TMI Blog2013 (10) TMI 1084X X X X Extracts X X X X X X X X Extracts X X X X ..... ast assessment year, i.e. 2003-04, as the amount was treated/shown as an expenditure, a reverse entry was made in the profit and loss account of the current assessment year i.e. 2004-05 – Decided against the Revenue. - ITA No. 325 of 2013 - - - Dated:- 26-8-2013 - Sanjiv Khanna And Sanjeev Sachdeva, JJ. For the Appellant : Mr. Abhishek Maratha, Sr. Standing Counsel. For the Respondent : ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt under Section 43B of the Act. He made reference to the audit report in which it was stated as under:- "The assessee had claimed deduction of Rs.1,94,51,222/- as allowance of 43B of earlier years in the 3CD report the amount was shown as interest paid being the amount waived off in terms of restructuring proposal sanctioned by CDR Cell." 4. The assessee has succeeded before the first appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... decision of Delhi High Court or the Supreme Court. The assessee might not be correct in making the claim but the claim could be disallowed under Section 154 of the Act, if the mistake was apparent from the record and it was not capable of two views. Debateable and contestable claims cannot be made subject matter of rectification under Section 154. 5. Learned counsel for the respondent-assessee, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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