https://www.taxtmi.com/caselaws?id=344268 The ITAT held that the AO exceeded jurisdiction by attempting to rectify a debatable issue under Section 154 of the Income Tax Act related to the computation under Section 115JB. The ITAT found the rectification unjustified as it was not a clear mistake apparent from the record but a matter of interpretation. Consequently, the ITAT set aside lower authorities' orders and quashed the rectification under Section 154, ruling in favor of the appellant. en-us Fri, 02 Jun 2017 00:00:00 +0530 Wed, 14 Jun 2017 08:11:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344268 The ITAT held that the AO exceeded jurisdiction by attempting to rectify a debatable issue under Section 154 of the Income Tax Act related to the computation under Section 115JB. The ITAT found the rectification unjustified as it was not a clear mistake apparent from the record but a matter of interpretation. Consequently, the ITAT set aside lower authorities' orders and quashed the rectification under Section 154, ruling in favor of the appellant. Case-Laws Income Tax Fri, 02 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344268