TMI Blog2012 (6) TMI 374X X X X Extracts X X X X X X X X Extracts X X X X ..... the appeal on the ground that the issue of carry forward allowance in computing the assessment was based on the provisions of section 115J of the Act and could be rectified under section 154 of the Act having regard to the facts that the mistake of fact was an apparent one – Held that:- rectification contemplated under section 154 must be a rectifiable mistake. A decision on a debatable point of l ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the assessment under section 115J as the issue is debatable ? and 2. Whether, in the facts and circumstances of the case, the Tribunal was right in allowing the claim of the assessee to carry forward the losses and allowances ?" 2. Even though notice was served on the assessee and the assessee's name appears in the cause list, there was no representation of behalf of the assessee. 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s that the mistake of fact was an apparent one. Aggrieved by the same, the assessee filed an appeal before the Tribunal. 4. It is seen from the order of the Tribunal that it agreed with the assessee's contention that brought forward allowance could not be set off as against the income computed under section 115J of the Act. In so holding, it allowed the appeal following the decision in the cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ision of the apex court did not obliterate the conflict of opinion which existed as on the date of passing of the assessment order. Under section 154 of the Act, rectification was not permissible on the debatable issue. The apex court held that sec- tion 154 deals with rectification of mistake. Section 154(1), inter alia, states that, with a view to rectify any mistake apparent from the record, an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment was completed. In the given set of facts, as on the date of assessment, there was a conflict of opinion, which was settled subsequent to the passing of the order of assessment. The apex court further pointed out that the rectification contemplated under section 154 must be a rectifiable mistake. A decision on a debatable point of law could not be taken as a mistake apparent from record. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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