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2014 (7) TMI 870 - HC - Income TaxDeduction u/s 80HHC – Computation of income u/s 115JB – Rectification of order u/s 154 - Tribunal rightly directed to compute the deduction u/s 80HHC for the purpose of determining book profit u/s 115JA only with reference to profit as per the accounts and not to restrict the same to the amount computed and allowed under the normal provisions of the Act - there was no mistake in the order passed by the AO on 24.07.2006 giving effect to the order of the CIT (A) on this issue warranting any rectification u/s 154 - whether deduction u/s 80HHC while computing book profit u/s 115JA is to be allowed with reference to eligible profit as shown by the assessee in the Profit and Loss Account or with reference to the eligible profit as computed under the provisions of the I.T. Act. The exercise undertaken by the Tribunal is with reference to the facts and peculiar to the case - Tribunal rightly held that the powers u/s 154 could not have been resorted to and to initiate and complete an exercise referred in details by it - In effect the initial order of rectification is sought to be further rectified and which is impermissible - when the Revenue did not take the matter further from the initial stage and against the order dated 24.07.2006 - the nature being understood in the factual backdrop and particularly the orders of the Authorities - the order is rendered in the backdrop of the facts peculiar to the Assessee – Decided against Revenue.
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