Dismissing the appeal of the revenue the Court held that  the Assessing Officer when the matter went before him for the second time pursuant to the order passed under section 263. The Tribunal was satisfied that the view taken by the Assessing Officer in the second round of the proceedings was permissible under the law. The Tribunal had rightly held that the Principal Commissioner merely gave directions but did not give any reasons to conclude that the assessment should be revised for the s time.(AY. 2012-13)