https://www.taxtmi.com/caselaws?id=11798 The court set aside the order withdrawing depreciation claimed under section 32(1) of the Income Tax Act for the assessment year 1994-95. It held that the withdrawal of depreciation did not qualify as a mistake under section 154 for rectification purposes. Relying on legal principles from previous judgments, the court emphasized that a debatable point of law or differing opinions among judges do not constitute a mistake under section 154. The court concluded that the withdrawal of depreciation was an attempt to overturn one view of the assessing authority, not meeting the criteria for rectification. The court allowed the writ petition and directed each party to bear their own costs. en-us Thu, 27 Mar 2003 00:00:00 +0530 Tue, 09 Feb 2010 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11798 The court set aside the order withdrawing depreciation claimed under section 32(1) of the Income Tax Act for the assessment year 1994-95. It held that the withdrawal of depreciation did not qualify as a mistake under section 154 for rectification purposes. Relying on legal principles from previous judgments, the court emphasized that a debatable point of law or differing opinions among judges do not constitute a mistake under section 154. The court concluded that the withdrawal of depreciation was an attempt to overturn one view of the assessing authority, not meeting the criteria for rectification. The court allowed the writ petition and directed each party to bear their own costs. Case-Laws Income Tax Thu, 27 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11798