Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (1) TMI 390 - AT - Income TaxScope of rectification order u/s 154 - withdrawing the credit being cash seized during the course of search and claimed as self-assessment tax in ITR filed under section 153A - Held that:- The Hon’ble Kolkata High Court in the case of Hindustan Lever Limited [2006 (3) TMI 80 - CALCUTTA High Court] while considering the scope of Section 154(1) of the I.T. Act held that the mistake must be so obvious that it can be easily corrected to wit an arithmetic error, wrong quotation of section etc., but not a debatable issue. In the present case, the claim of assessee for adjustment of seized cash towards self-assessment tax was accepted by the A.O. after considering the explanation and statement of assessee. Therefore, without justification, the A.O. should not have rectified the order for withdrawing such benefit to the assessee. The Ld. CIT(A), therefore, correctly followed the order of the ITAT, Kolkata Bench in the case of Narendra N. Thacker (2015 (11) TMI 62 - ITAT KOLKATA). Since, the issue was highly debatable before the A.O, therefore, in such circumstances, A.O. should not have pass the rectification order under section 154 of the I.T. Act. No infirmity have been pointed out in the order of the Ld. CIT(A). We, therefore, confirm the same and dismiss the appeal of the Revenue.
|