https://www.taxtmi.com/caselaws?id=78663 The High Court ruled in favor of the assessee, holding that the withdrawal of investment allowance under Section 154 of the Income Tax Act was not justified due to the contentious nature of the classification issue regarding air-conditioners and refrigerators as domestic electrical appliances. The court emphasized that decisions on debatable points of law do not constitute mistakes apparent from the record, supporting the ITAT's decision. The judgment highlighted the need for clear and indisputable mistakes for rectification proceedings under Section 154, ultimately siding with the assessee against the revenue. en-us Wed, 01 Sep 2010 00:00:00 +0530 Tue, 07 Dec 2010 21:22:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78663 The High Court ruled in favor of the assessee, holding that the withdrawal of investment allowance under Section 154 of the Income Tax Act was not justified due to the contentious nature of the classification issue regarding air-conditioners and refrigerators as domestic electrical appliances. The court emphasized that decisions on debatable points of law do not constitute mistakes apparent from the record, supporting the ITAT's decision. The judgment highlighted the need for clear and indisputable mistakes for rectification proceedings under Section 154, ultimately siding with the assessee against the revenue. Case-Laws Income Tax Wed, 01 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78663