No revision u/s 263 if AO’s view on the issue was a plausible view

Madurai Power –Corporation Pvt. Ltd. Vs PCIT (ITAT Chennai)

Conclusion: AO while passing the re-assessment order u/s.147 did apply his mind to the issue and had accepted the claim of the assessee being satisfied with the explanation given by it during re-assessment proceedings. In such a scenario, the action of the AO

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