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2024 (3) TMI 94 - ITAT PUNERectification u/s 154 - under-assessment of income qua the foregoing depreciation/additional depreciation issue(s) - HELD THAT:- All the foregoing clinching facts sufficiently indicate that the AO’s impugned action invoking sec.154 rectification for the purpose of carrying-out a detailed exercise of re-computing the assessee’s depreciation/ additional depreciation could hardly be held as sustainable in law in principle in light of TS Balram, ITO vs. Volkart Bros. [1971 (8) TMI 3 - SUPREME COURT]. Their lordship’s have settled the law long back that the purpose of sec.154 rectification is to deal with the apparent mistakes on record than carrying-out detailed roving enquiries. This is indeed coupled with the fact that the CIT(A)'s has already termed the impugned rectification as a debatable one which further strengthens the assessee’s stand against the applicability of sec. 154 proceedings. We thus see no reason to accept the Revenue’s instant sole substantive grievance. Revenue appeal dismissed.
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