https://www.taxtmi.com/caselaws?id=292491 The Appellate Tribunal ITAT Chennai upheld the order u/s. 154 by the Assessing Officer to rectify the book profit figure of the assessee. The Tribunal found that the initial disclosure of book profit was revised by the assessee, and the adjustment made by the AO was deemed correct as per the law. Emphasizing the broad scope of 'mistake' under s. 154, the Tribunal confirmed the rectification, noting that debatable issues fall outside the purview of s. 154. The Tribunal highlighted the specific adjustments permissible under s. 115JB for arriving at book profit and dismissed the assessee's appeal on July 31, 2017, in Chennai. en-us Mon, 31 Jul 2017 00:00:00 +0530 Sat, 26 Dec 2020 10:31:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292491 The Appellate Tribunal ITAT Chennai upheld the order u/s. 154 by the Assessing Officer to rectify the book profit figure of the assessee. The Tribunal found that the initial disclosure of book profit was revised by the assessee, and the adjustment made by the AO was deemed correct as per the law. Emphasizing the broad scope of 'mistake' under s. 154, the Tribunal confirmed the rectification, noting that debatable issues fall outside the purview of s. 154. The Tribunal highlighted the specific adjustments permissible under s. 115JB for arriving at book profit and dismissed the assessee's appeal on July 31, 2017, in Chennai. Case-Laws Income Tax Mon, 31 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292491