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2005 (9) TMI 239 - AT - Income TaxOutstanding fees for professional services taxable in the hand of assessee? - rectification petition afresh in contradiction to provisions of section 143(1) - Whether the AO was competent u/s 154 to rectify the mistake - HELD THAT:- The definition in section 154(2)(b) clearly laid down that the Assessing Officer is well-competent to rectify any mistake, which is brought to its notice by the assessee also and, therefore, the observation of Assessing Officer and the ld. D.R., that such mistake committed by the assessee could be rectified vide revised return only, does not stand at all. As the per provision laid down in section 154(2)(b) clearly suggests the jurisdiction is available to the Assessing Officer u/s 154, in case the mistake is brought to his notice by the assessee also. In view of the above facts and circumstances and considering the decision by the Hon'ble Supreme Court in case of D.P. Sandhu Bros. Chembur (P.) Ltd. [2005 (1) TMI 13 - SUPREME COURT] and Calcutta High Court in case of Premier Polymers (P.) Ltd.[1990 (1) TMI 310 - CALCUTTA HIGH COURT], it is apparently clear that the above amount received by the assessee prior to his elevation could not be taxed and, therefore, the assessee has rightly moved a petition u/s 154 to rectify the intimation sent by Assessing Officer, and the Assessing Officer was well-competent to rectify such intimation in view of the provision as laid down in sections 143(1)(ii) and 154(2)(b) of the Act and in view of the decision by the Hon'ble Calcutta High Court in case of Bhaskar Mitter [1994 (12) TMI 327 - HIGH COURT OF CALCUTTA] and in case of Premier Polymers (P.) Ltd. We, therefore, we are of the considered opinion that the ld. CIT(A) while deciding the above two issues has passed a well reasoned and speaking order which does not call for any interference from our side. We, therefore, uphold the same and reject the grounds raised by the revenue. In the result, the appeal filed by the revenue is dismissed.
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