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CIT cannot revoke section 263 when AO adopts one view out of two possible views : HC
Case Law Details
- Case Name
- M/s Vijay Udhyog Vs CIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Brief of the Case
Bombay High court held In the case of M/s Vijay Udhyog vs. CIT that where two opinion or views are available and one of the view is taken by the AO, cannot be a basis for revision of order u/s 263. Also none of the clauses of section 80I(2)(i) to (iv) prohibit the assessee from taking other industrial undertakings on hire and use it for the purpose of manufacturing activity.
Facts of the Case
Assessee was a partnership firm carrying on business of manufacturing of pulses. It engaged a party for crushing of the raw material at a fixed rate per quintal. It was ...
