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2023 (3) TMI 921 - AT - Income TaxRectification of mistake u/s 154 - mismatched contract receipts - HELD THAT:- As per settled legal proposition in T.S. Balram, ITO vs. Volkart Bros [1971 (8) TMI 3 - SUPREME COURT] section 154 of the Act is attracted only in case of an apparent mistake than those requiring long drawn process of detailed enquiry(ies). Assessee’s stand all along as per it’s statement of facts filed before the NFAC is that the impugned sum involving S/Shri Dilip N Bharne proprietor of M/s. Trimurti Enterprises and Clincy Constructions Pvt. Ltd. is in the nature of service tax component which already stands assessed as the AO had framed the scrutiny assessment dated 26.10.2016 after carrying-out his detailed investigation qua the alleged excess turnover declared, ITS data and 26AS, as the case may be. All what the learned NFAC has done is to simply harp upon sec.154 jurisdiction exercised by the Assessing Officer than rebutting the said clinching averments. We conclude in this factual and legal backdrop that the impugned sec.154 rectification for the purpose of assessing the instant taxpayer’s receipts @ 9% falls beyond the purview of sec.154 jurisdiction. Assessee appeal allowed.
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