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2016 (12) TMI 1005 - HC - Income TaxAddition made to Book Profit by an order u/s 154 - MAT - rectification of mistake - Held that:- We are of the view that the issue stands concluded by the decision of this Court in Sakseria Cotton Mills Ltd. (1979 (2) TMI 17 - BOMBAY High Court) in favour of the assessee and against the appellant Revenue. The distinction sought to be made by the appellant Revenue on the basis of the amendment to Section 115JB of the Act in 2009 with retrospective effect from 2001 does not address the fundamental issue of nonmerger of the order dated 27th February, 2004 with the order dated 30th December, 2008. Therefore, any rectification of the order dated 27th February, 2004 is required to be done within 4 years from 27th February, 2004 as provided under Section 154 of the Act. It is not disputed before us that issue of the provisions made for diminution in value of assets which is sought to be rectified is an issue which was never the subject matter of consideration in the order dated 30th December, 2008 passed under Section 143(3) r/w Section 254 of the Act. Therefore, in these circumstances, it could not be rectified under Section 154 of the Act. Thus, the distinction sought to be made is of no consequence. - Decided in favour of assessee
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