Section 263 Not Invocable as Plausible View on Service Tax Return & ITR Difference taken by AO

Jumbo Electronics Corporation Pvt. Ltd. Vs PCIT (ITAT Mumbai) ITAT Mumbai held that invocation of section 263 alleging difference in the receipt as per service tax return and ITR filed unsustainable as AO after making an enquiry on this issue has taken one of the plausible view and has not made addition on the difference amount. Facts- Post completion of scrutiny assessment, PCIT invoked the provisions of section 263 of the Act for the reason that the assessment order passed by the AO was erroneous in so for as it is prejudicial to the interest of the revenue for the reason that the AO has fai...