Held that  as the “on money” declared by the assessee was business income the service tax related to “on money” and remuneration paid to partners out of on money declared by the assessee were allowable expenses. The service tax which was related to on money, represented expenses of business. The partners’ remuneration was also expenses allowable under the Act. The Assessing Officer, while framing the assessment order, had allowed expenses related to the business. The Assessing Officer had taken one of the possible views. Therefore, the order passed by the Assessing Officer was neither erroneous nor prejudicial to the interests of the Revenue. Hence, the jurisdiction exercised by the Principal Commissioner under section 263 of the Act was not sustainable. (AY.2015-16)