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2014 (1) TMI 1717 - AT - Income TaxRectification of mistake - Disallowance u/s 14A for the purpose of computing the book profits u/s 115JB - Held that:- It is a settled proposition of the Law that AO can only rectify u/s 154 the mistakes apparent / patent from the records. Therefore, the issues of debatable nature are outside the scope of section 154 of the Act. Whether the disallowances u/s 14A can be made and added to the book profits computed/s 115JB of the Act is a debatable one. The issue, being debatable in nature and the same is supported by the existence of divergent decisions cited by the Ld Counsel cannot be rectified as done by the Revenue in this case. - Decided in favour of assessee.
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