Revisional jurisdiction U/s./ 263 cannot be exercised for better view of CIT

Pr. CIT Vs M/s. Yes Bank Ltd. (Bombay High Court)

Assessing Officer sought clarification from the assessee about the correctness of the amount of one­fifth of the total expenses incurred under Section 35D of the Act. The assessee under letter dated 26.10.2004 gave specific explanation on the issue raised by the Assessing Officer and thereafter, the assessment order was passed. To substantiate his claim, the assessee has placed reliance upon Malabar Industrial Co. Ltd. (supra). The possible vi

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