Assessment order was passed under section 144 wherein he allowed deduction towards interest and remuneration paid to partners . Commissioner passed the revisional order setting a side assessment . On appeal the Tribunal held that, while completing assessment Assessing Officer completely overlooked provisions of section 184(5) and allowed deduction on account of interest/remuneration paid to partners, it certainly made assessment order erroneous and prejudicial to interests of revenue , therefore, impugned revisional order was up held . (AY. 2010-11)
Saroj Print Arts v. PCIT (2020) 181 ITD 502 / 194 DTR 171 / 207 TTJ 185 (Mum.) (Trib.)
S. 263 : Commissioner – Revision of orders prejudicial to revenue – Order passed under section 144 overlooking provision of section 184 (5) – Order is erroneous – Revision is held to be valid [ S.144, 184 (5) ]