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TMI Blog2018 (10) TMI 1670X X X X Extracts X X X X X X X X Extracts X X X X ..... of deduction u/s.80-IB. Thus clearly the revision as done by the Commissioner of Income Tax u/s.263 of the Act is based exclusively on change of opinion, which is not permissible, when passing a revision u/s.263 of the Act. The Order u/s.263 is based purely on change of opinion and the same being impermissible under the provisions of the section 263, the order dated 29/03/2017 passed by the Principal Commissioner of Income Tax u/s.263 of the Act in the case of the assessee herein stands quashed. - Decided in favour of assessee. - I.T.A. No. 1211/Chny/2017 - - - Dated:- 8-10-2018 - SHRI ABRAHAM P GEORGE, ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN, JUDICIAL MEMBER For the Appellant : Mr. S.Sridhar, Advocate For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... passed u/s.143(3) r.w.s 263 of the Act on 30.03.2015 wherein after examining called documents on records relating to the claim of deduction u/s.80-IB(10) of the Act. It was a submission that subsequently a notice u/s.263 of the Act dated 07.11.2016 came to be issued on the assessee, again questioning the deduction granted to the assessee u/s.80-IB of the Act. It was a submission that the in response to the notice dt.7.11.2016, assessee had replied that the issue u/s.80-IB(10) of the Act has been examined by the ld. Assessing Officer, first in the original assessment passed u/s.143(3) of the Act on 29.12.2011, and second time, the order passed u/s.143(3) r.w.s.263 of the Act dated 30.03.2015,on account of revision order passed u/s.263 of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ond being the order is prejudicial to the interests of the Revenue. The view of the Revenue seems to be any order granting deduction to an assessee is prejudicial to the interests of the Revenue. We are not in agreement with this view, in so far as, if the Act provides for granting a particular benefit or deduction to an assessee, the granting of such deduction or benefit to the assessee cannot be deemed as prejudicial to the interest of the Revenue. One has to take out of one s mind that the granting of statutory deduction is an erroneous order prejudicial to the interests of the Revenue. The issue of the order being erroneous however needs to be shown. Just a claim that the order is an erroneous would not make an order erroneous. What is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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