TMI Blog2018 (6) TMI 1663X X X X Extracts X X X X X X X X Extracts X X X X ..... 1.4.1997. Accordingly we correct the same. In Para 16 of order dated 09/10/2015, reference has been made to sub-section 4A inserted in s 41 by the Finance Act 1997. It has however been inadvertently stated that this sub section was inserted with from 1.4.2008. The correct year is however 1998 and not 2008. Since it is an apparent mistake, we rectify the same. Issue whether, balance in Prof ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... harma (A.M): These M.A. arose out of ITA Nos.5434/Mum/2011 5435/Mum/2011. 2. Certain apparent mistakes are pointed out by learned AR in the order passed on 09/10/2015. As per learned AR in its order dated 09/10/2015 towards the end of paragraph 12 on page 7 of the order - There is no dispute that the assessee did carry a sum of ₹ 484,22,01,385/- to reserve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al. As it is a mistake apparent from record, we recall the order to a limited extent of deciding whether balance in Profit and Loss Account which is not in the nature of ―any other reserve having specific objectives‖, should form part of general reserves . We direct accordingly. 5. In the result, M.A. filed by the assessee is allowed in part. 6. In M.A. No.249/Mum/2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Assets under Section 43D of Income Tax Act read with Rule 6 EB without appreciating the fact that the Appellant had consistently followed the Accounting Policy of accruing interest income on NPA on realization which is also in compliance with mandatory NHB Guidelines, AS 9 and Other applicable Accounting Standards, Provisions of the Companies Act and Income tax Act. Without prejudice, Ld CIT(A) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issue raised by the assessee in its appeal, while passing the order amounts to mistake apparent from record. We therefore, recall the order with a limited issue to decide the above grounds raised before us. 8. In the result M.A. is allowed in part. 9. In the result, both the M.A. s are allowed in part. Order pronounced in the open court on this 01/06/2018. - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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