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2012 (3) TMI 508 - AT - Income TaxRectification of mistake - MAT computation provision applicability - Held that:- Just because a retrospective amendment has been carried out on the statue, the assessment cannot be modified without examining whether the provisions so made are to be disallowed or not. This requires detailed examination and in fact as for the submissions made before the authorities, the assessee had appeared before the Assessing Officer furnishing various details and how the amounts cannot be disallowed. Since this requires elaborate examination on a long run process, we are of the opinion that the orders cannot be modified by invoking the provisions of section 154. Not only that the Coordinate Bench in assessee’s own case in assessment year 2006-07 has held that the provisions of section 115JB are not applicable to the assessee Bank. In view of this, we hold that the order under section 154 passed by the Assessing Officer is not correct and therefore, the same was set aside. Accordingly assessee’s grounds in the above 2 years are allowed.
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