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2023 (4) TMI 246 - CALCUTTA HIGH COURTRectification of mistake - jurisdiction of the AO u/s 154 - Debatable issue - allowing of book loss or unabsorbed depreciation while computing the book profit u/s 115JB - HELD THAT:- Sub-section (1) of Section 154 says that with a view to rectify any mistake apparent from the record, an Income Tax authority referred to in Section 116 may do any one of the Acts as mentioned in Clauses (a) to (d) of Section 154(1). The other Sub-sections deal with matters where the issue has been considered and decided in a proceeding by way of an appeal or revision relating to the orders referred in Sub-section(1) of Section 154 - Thus, the Section empowers the authority only to rectify mistakes by amending an order passed by it or amending any intimation or deemed intimation under Sub-section (1) of Section 154 or amending an intimation under Section 200A(1) or amending an intimation under Section 206CB. However, in the instant case the Assessing Officer sought to invoke the said power and revise the entire assessment. The assessee carried the matter on appeal to the learned Tribunal and the Tribunal after noting the issue involved in the case and having examined the evidences and records and the income tax return of the assessee in respect of the earlier years, found that the claim made by the assessee is correct to the extent and the finding of the Commissioner of Income Tas (Appeals) cannot be sustained. More importantly, the Tribunal, in our view, rightly held so far as the issue of allowing of book loss or unabsorbed depreciation while computing the book profit under Section 115JB, the issue being a debatable issue, cannot be subject matter of proceedings under Section 154 - Decided against revenue.
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