TMI Blog2023 (4) TMI 246X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 154 - Thus, the Section empowers the authority only to rectify mistakes by amending an order passed by it or amending any intimation or deemed intimation under Sub-section (1) of Section 154 or amending an intimation under Section 200A(1) or amending an intimation under Section 206CB. However, in the instant case the Assessing Officer sought to invoke the said power and revise the entire assessment. The assessee carried the matter on appeal to the learned Tribunal and the Tribunal after noting the issue involved in the case and having examined the evidences and records and the income tax return of the assessee in respect of the earlier years, found that the claim made by the assessee is correct to the extent and the finding of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n ITA No.8/Kol/2022 for the assessment year 2013-14. The revenue has raised the following substantial questions of law for consideration: (A) Whether the Learned Tribunal has committed substantial error in law by holding that the claim of the assessee of Rs.49,44,871/- while computing net profit under 115JB is consonance with Clause (iii) of Explanation 1 in the said Section and further please to observe that the claim of the assessee is correct and to that extent the finding of the Learned CIT (Appeals) cannot be sustained ? (B) Whether the Learned Tribunal has committed substantial error in law by not appreciating that neither the department nor the assessee debated on any aspect of set off of book profit against book loss on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 154(1). The other Sub-sections deal with matters where the issue has been considered and decided in a proceeding by way of an appeal or revision relating to the orders referred in Sub-section(1) of Section 154 of the Act. Thus, the Section empowers the authority only to rectify mistakes by amending an order passed by it or amending any intimation or deemed intimation under Sub-section (1) of Section 154 or amending an intimation under Section 200A(1) or amending an intimation under Section 206CB. However, in the instant case the Assessing Officer sought to invoke the said power and revise the entire assessment. Before the Commissioner of Income Tax (Appeals) the assessee had placed reliance on the decision of this Court in the case of DCIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. The assessee carried the matter on appeal to the learned Tribunal and the Tribunal after noting the issue involved in the case and having examined the evidences and records and the income tax return of the assessee in respect of the earlier years, found that the claim made by the assessee is correct to the extent and the finding of the Commissioner of Income Tas (Appeals) cannot be sustained. More importantly, the Tribunal, in our view, rightly held so far as the issue of allowing of book loss or unabsorbed depreciation while computing the book profit under Section 115JB, the issue being a debatable issue, cannot be subject mater of proceedings under Section 154 of the Act. At this juncture, it will be beneficial to refer to the decision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... point of law is not a mistake apparent from the record see Sidhramappa Andannappa Manvi v. Commissioner of Income tax [1952] 21 ITR 333 (Bom.) The power of the officers mentioned in Section 154 of the Income Tax Act, 1961, to correct any mistake apparent from the record is undoubtedly not more than that of the High Court to entertain a writ petition on the basis of an error apparent on the face of the record. In this case, it is not necessary for us to spell out the distinction between the expressions error apparent on the face of record and mistake apparent from the record . But suffice it to say that the Income Tax Officer was wholly wrong in holding that there was a mistake apparent from the record of the assessments of the firs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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