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2004 (10) TMI 79 - PUNJAB AND HARYANA HIGH COURTROM – rectification of mistake - "(1) Whether Tribunal was right in law in confirming the view taken by the DCIT(A) to hold that the question of allowing expenses against the amount incentive bonus received by a Development Officer of the LIC of India was a highly debatable issue and outside the purview of section 154?" - In the present case, the intimation under section 143(1)(a) of the Act was dated May 31, 1993, and order under section 154 was passed on November 17, 1993. The Tribunal dismissed the appeal of the Revenue on September 24, 1997 - The decision by this court in B.M. Partnar's case was rendered on October 27, 1998, sub-section (7) of section 154 prescribes limitation of four years for initiation of action for rectification of a mistake - The action for rectification could have been taken by the Assessing Officer up to March 31, 1998, on the basis of the judgment of the jurisdictional court – Thus, Revenue cannot rely on that judgment to justify the order passed by the Assessing Officer - Question of law is answered against the Revenue and in favour of the assessee.
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