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2013 (6) TMI 280 - HC - Income TaxRectification u/s 154 - on the basis of the undisputed and admitted facts, different view was taken by the Assessing Officer while exercising jurisdiction under section 154 of the Act, 1961. - Ascertained liability or not - Deduction u/s 32AB - income on account of dividend, capital gains and the provision of excise duty written back - Held that:- reference of Parts II and III of Schedule VI to the Companies Act, 1956, in sub-section (3) of section 32AB clearly indicates that the "provisions" is in accordance with the requirement of Parts II and III of the said Schedule to the Companies Act, 1956. There was an order relating to the liability of the ascertained amount. - mere change in its liability in toto and not to quantitative only cannot be made the liability as unascertained liability, which was ascertained when demanded and in the same way, liability was contingent depending upon the ambiguity in the legal opinion which upon the judgment of the Patna High Court in the assessee's case wiped out the ascertained contingent liability of the assessee. The distinction is required to be seen in unascertained and contingent liability. In earlier years, the assessee was not entitled to get the benefit of section 32AB and, therefore, it is not a case of taking double benefit, rather to say other view will deny the benefit to the petitioner in both the years which will amount to the total denial of the benefit under section 32AB. Admittedly, the petitioner was taxed on this amount, i.e., Rs. 95.25 lakhs in the year, in which, he has claimed the allowance under section 32AB of the Act and, therefore, there cannot be two views for the purpose of taxing one income amount of Rs. 95.25 lakhs. Therefore, not only it was a case of invoking of powers under section 154 on forming a different opinion on question of law but also it was legally wrong. The matter in question could not have been decided by the Assessing Officer by invoking section 154 of the Act - Decided in favor of assessee
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