https://www.taxtmi.com/caselaws?id=388349 The Tribunal held that the Assessing Officer (AO) lacked jurisdiction to rectify the order under Section 154 of the Income Tax Act as the issue was debatable. The Tribunal upheld the CIT(A)'s decision canceling the rectification, confirming the allowance of deduction under Section 80IB despite the return being filed late, relying on the principles from the Chirakkal Services Coop Bank vs. CIT case. The Revenue's appeal was dismissed, emphasizing that a debatable legal point cannot be rectified under Section 154. en-us Fri, 08 Nov 2019 00:00:00 +0530 Thu, 14 Nov 2019 10:34:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388349 The Tribunal held that the Assessing Officer (AO) lacked jurisdiction to rectify the order under Section 154 of the Income Tax Act as the issue was debatable. The Tribunal upheld the CIT(A)'s decision canceling the rectification, confirming the allowance of deduction under Section 80IB despite the return being filed late, relying on the principles from the Chirakkal Services Coop Bank vs. CIT case. The Revenue's appeal was dismissed, emphasizing that a debatable legal point cannot be rectified under Section 154. Case-Laws Income Tax Fri, 08 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388349