2023 (1) TMI 965 - AT - Income Tax
Rectification u/s 154 - deduction under section 80IB - HELD THAT:- We observed that “any mistake apparent from the record” can be rectified under section 154 of the Act. The plain meaning of the word 'apparent' is that it must be something which appears to be ex-facie and incapable of argument and debate. Therefore, we find merit in the submissions of ld DR for the Revenue that deduction under section 80IB is a debatable issue which can not be rectified under section 154 of the Act. Therefore, we agree with the reasoning given by ld CIT(A) that the issue of allowing claim u/s 80IB of the IT Act does not come under the purview of mistake apparent from record which is rectifiable u/s 154 of the IT Act as the disallowance u/s 80IB was made by mentioning of cogent reasons given in the assessment order u/s 143(3) of the IT Act by the AO.
There is no mistake apparent from the record in the current case and rectification application was rightly rejected by assessing officer. Facts also indicate that the assessment order passed on 29/08/2011 and first rectification application is claimed to have been filed on 26/08/2015. This shows that the assessee missed the deadline for filing regular appeal and recourse to rectification was taken to bring the issue to back to life for further legal remedy. However, by way of rectification petition, the assessee cannot-raise the issue which could have been taken up in regular appeal only. This way, the ld CIT(A) has confirmed the action of the assessing officer and dismissed the appeal of the assessee.