Gati Limited vs Assistant Commissioner Of Income Tax

Whether the Principal Commissioner of Income Tax (Pr. CIT) validly exercised revisionary jurisdiction under Section 263 of the Income Tax Act, 1961 to set aside the assessment order allowing deduction of loss on sale of investments while computing book profit under Section 115JB (MAT) --- Held No. Whether the Assessing Officer's order allowing deduction of Rs. 64 crores (loss on sale of investments) from book profit under Section 115JB was erroneous and prejudicial to revenue --- Held No.