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2012 (4) TMI 212 - HC - Income TaxAssessee disclosed the claim made for excise duty refund credited to the profit and loss account as miscellaneous receipts by original as well as the revised returns - such amount was neither received nor accrued to the appellant company and the same cannot be included in the total income - the assessing officer rectified the order and reduced the claim under Section 32AB as against the original claim - tribunal passed the order that the assessing officer had in the guise of rectifying an arithmetical mistake sought to rectify a debatable question of law and re-calculation of the eligible profit under Section 32AB by deleting the expected return of customs duty, which was not included in the computation of income is an error rectifiable under Section 154 of the Income Tax Act -Revenue filed the appeal that Appellate Tribunal being a final fact finding authority, is expected to give reasons supporting its finding - Held that :- the Appellate Tribunal should have considered the materials placed on either side and have independently applying its mind should have come to its own conclusion as to whether any mistake had crept in the the order of the assessing authority or it is a debatable question - the order of the Tribunal is set aside - matter is remitted back to the ITAT to decide the issue within a period of six months - Appeal of revenue allowed.
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