2020 (4) TMI 400

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.... and disposed of by this consolidated order. Firstly, we are taking ITA No. 7170Mum/2018 for AY 2007-08 filed by the assessee. 3. The brief facts of the case are, the current assessment in this case was completed u/s 143(3) of the Act on 31.12.09 assessing the total income of Rs. 77,190/- as against returned income of Rs. NIL. It is relevant to note at this point that the assessment for AY 2010-11 was taken up for scrutiny and in that assessment year, AO noticed that assessee has claimed deduction u/s 80IB of the Act in the regular income tax calculation and the same was adjusted in the book profit u/s 115JB also. In that AY, AO brought to the tax book profit u/s 115JB and calculated the charge of interest u/s 234B and 234C by passing an o....

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....nds of appeal:- 1. On the facts and circumstances of the case and law, the Ld. CIT(A) failed to consider that appeal filing get delayed due to wrong advise and taking other remedial option. Therefore, we request your honour to kindly condone the delay in filing before CIT(A). 2. On the facts and circumstances of the case and law, the Ld. CIT(A) failed to consider that provision of section 154 can be apply on mistake apparent from record and not on debatable issue, whereas the issue involve in rectification under dispute is related to overriding effect of section 80IB over 115JB and levy of MAT on deduction u/s 80IB are highly debatable issued. Hence, proceeding u/s 154 cannot for issue in dispute. 3. On the facts and circumstances o....

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.... form. 7. The appellant craves leave to add, alter, amend, modify or delete any or all the aforesaid grounds of appeal. 6. Before us Ld. AR on behalf of the assessee submitted that due to improper advice and relying heavily on the outcome of appeal for AY 2010-11, assessee failed to file the appeal on time before Ld. CIT(A). Even though assessee has merit in its favour and assessee has filed the appeals for all the assessment years with necessary documents. Further, he submitted that the order passed by the AO u/s 154 is debatable issue since various courts have held in favour of the assessee that deduction u/s 80IB can be reduced from the book profit u/s 115JB. For that proposition, he relied on the decision of Coordinated Bench of ITAT....