Assessee had sold depreciable assets and worked out short-term capital gain on sale of depreciable assets and after claiming set-off of brought forward long-term capital loss, net taxable capital gain was calculated. Assessing Officer while passing assessment order had taken short-term capital gain as long-term capital gain. Principal Commissioner passed order under section 263 on ground that there was error in assessment order by treating short-term capital gain as long-term capital gain by Assessing Officer. Tribunal accepted claim of assessee that its claim of set off of brought forward long term capital loss against short term capital gain returned under section 50 was in accordance with law. On appeal the Court held that the Assessing Officer having taken a plausible view in matter, assessment order could not be said to be erroneous so as to cause prejudice to revenue and, hence, Commissioner could not have exercised revisionary powers under section 263 of the Act.(AY. 2017-18)