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2017 (3) TMI 437 - BOMBAY HIGH COURT

2017 (3) TMI 437 - BOMBAY HIGH COURT - TMI - Rectification of mistake - deduction under Section 80HHA and 80I of the Act on the gross profit - Held that:- There is no scope for interference with the orders of the Tribunal in these appeals. Though we have framed the question “whether a issue which is debatable could be corrected under Section 154 of the Act”, the same would not arise for consideration in the circumstances of the case. The issue was not debatable, as the same was decided in Motila .....

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tted the deduction under Section 80HHA and 80I of the Act on the gross profit, the Assessing Officer was justified in rectifying the mistake as permitting the deduction under Section 80HHA and 80I of the Act on the gross income was an error apparent on the face of record. - Income Tax Appeal No. 04, 3, 6, 7, 8 of 2001 - Dated:- 2-3-2017 - Smt. Vasanti A. Naik And V. M. Deshpande, JJ. Shri N.S. Bhattad, Advocate for the Appellant Shri Mohota Advocate for the Respondent JUDGMENT ( Per : Smt. Vasan .....

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For the said assessment years, the appellant was also entitled to claim deduction under Section 40(b) of the Act on the total income of salary and interest. The deduction was allowed by the Assessing Officer under Section 80HHA and 80I of the Act by an intimation under Section 143(1)(e) of the Act. The deduction under Section 80HHA and 80I was made on the gross profit and not on the net income after the deduction under Section 40(b) of the Act was made. After realizing the said mistake, the Ass .....

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ent of the Hon'ble Supreme Court in the case of Motilal Pesticides India Private Limited vs. Commissioner of Income Tax, Delhi, reported in 2000 DGLS (SC) 356, the Assessing Officer was justified in rectifying the mistake under Section 154 of the Act. The Tribunal held that the law was well settled and the action of the Assessing Officer of rectifying the mistake was in conformity with the judgment of the Hon'ble Supreme Court. Shri N.S. Bhattad, the learned counsel for the appellant- as .....

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lastiblends India Ltd., Mumbai vs. Additional Commissioner of Income Tax, reported in 2010 (1) Mh. L.J. 527. Shri Mohota, the learned counsel for the Revenue supported the order of the Tribunal and submitted that the issue whether the deduction under Sections 80HHA and 80I of the Act could have been made on gross profit or net profit was set at rest by the judgment of the Hon'ble Supreme Court, reported in 2000 DGLS (SC) 356 and hence, the question was not debatable, as canvassed on behalf o .....

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