Assessment order passed under section 153A, read with section 143(3) was erroneous or prejudicial to interest of revenue

IT : Where there was nothing on record to suggest that any material was unearthed during search or during proceedings initiated under section 153A showing that certain relief in form of deduction was wrongly allowed to assessee, Commissioner could not invoke jurisdiction under section 263 on ground that assessment order passed under section 153A, read with section 143(3) was erroneous or prejudicial to interest of revenue
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[2014] 49 taxmann.com 172 (Bombay)
HIGH COURT OF BOMBAY
Commissioner of Income-tax (Central), Nagpur
v.
Murli Agro Products Ltd.*
J.P. DEVADHAR AND A.B. CHAUDHARI, JJ.
IT APPEAL NO. 36 OF 2009†
OCTOBER  29, 2010
Section 153A, read with section 263 of the Income-tax Act, 1961 - Search and seizure - Assessment in case of search or requisition (Deduction wrongly allowed) - Assessment year 1998-99 - Whether where there was nothing on record to suggest that any material was unearthed during search or during proceedings initiated under section 153A showing that certain relief in form of deduction was wrongly allowed to assessee, Commissioner could not invoke jurisdiction under section 263 on ground that assessment order passed under section 153A, read with section 143(3) was erroneous or prejudicial to interest of revenue - Held, yes [Paras 13 and 14] [In favour of assessee]