No revision under section 263 could be done on ground that prior period expenditure had been reduced while computing book profit

IT: Where Assessing Officer accepted book profit under section 115JB, no revision under section 263 could be done on ground that prior period expenditure had been reduced while computing book profit
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[2014] 49 taxmann.com 70 (Hyderabad - Trib.)
IN THE ITAT HYDERABAD BENCH 'A'
Coromandel Stampings & Stones Ltd.
v.
Assistant Commissioner of Income-tax, Circle-1 (2), Hyderabad*
B. RAMAKOTAIAH, ACCOUNTANT MEMBER
AND SAKTIJIT DEY, JUDICIAL MEMBER
IT APPEAL NO. 215 (HYD.) OF 2014
[ASSESSMENT YEAR 2009-10]
JULY  18, 2014
Section 115JB, read with section 263, of the Income-tax Act, 1961 - Minimum alternate tax (Prior Period Expenditure) - Assessment year 2009-10 - Assessing Officer accepted book profit declared by assessee under section 115JB - Commissioner did not accept same and revised said order under section 263 on ground that while computing book profit under section 115JB assessee had reduced prior period expenditure - Whether since view taken by Assessing Officer was an acceptable view, assessment order could not be considered as erroneous - Held, yes - Whether, revision under section 263 was unjustified - Held, yes [Para 11][In favour of assessee]