TMI Blog2009 (10) TMI 579X X X X Extracts X X X X X X X X Extracts X X X X ..... Nonmag Wires P. Ltd. (2007 -TMI - 13502 - MADRAS High Court) to which one of us is a party (Mrs. Chitra Venkataraman J.) this court held that a debatable issue on a point of law is not a mistake apparent from the record - Useful reference can be had to the judgment of the Supreme Court in the case of T. S. Balaram, ITO v. Volkart Brothers (1971 -TMI - 6255 - SUPREME Court) wherein it is held that a debatable issue could not be made a subject-matter for taking recourse to section 154 - Appeal is dismissed - - - - - Dated:- 19-10-2009 - RAVIRAJA PANDIAN K., SUNDRESH M. M., JJ JUDGMENT K. Raviraja Pandian J.- The order of the Tribunal datedNovember 8, 2005made in IT(SS)A No. 228/Mad/2003 on the file of the Tribunal, "D" Bench, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the Tribunal's decision in the case of N. Venkatesan in IT (SS) A No. 209 of 1997 datedDecember 15, 2000, allowed the appeal. The Commissioner of Income-tax (Appeals) held that the issue of set off of losses cannot be dealt with in rectification proceedings under section 154. (iii) Aggrieved by the order of the Commissioner of Income-tax (Appeals), the Revenue carried the matter on further appeal to the Tribunal. The Tribunal, following the very same decision, which has been taken note of by the Commissioner of Income-tax (Appeals) has dismissed the appeal. (iv) The correctness of the same is put in issue in this appeal by formulating the questions of law as stated above 3. We have heard Mr. K. Subramaniam, learned standing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elf-evident mistake. The debatable issue cannot be a ground for invoking jurisdiction under section 154. It is not denied that there are provisions under the Act, which permit the Revenue to take up and keep alive assessments even on debatable issues which are awaiting decisions before court of law. An issue, which required a long process of reasoning and where there are already conflicting views, cannot offer a platform for a resort to section 154 proceedings. In similar circumstances, in a decision reported in CIT v. Nonmag Wires P. Ltd. [2007] 292 ITR 557 (Mad) to which one of us is a party (Mrs. Chitra Venkataraman J.) this court held that a debatable issue on a point of law is not a mistake apparent from the record. Placing reliance on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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