1983 (6) TMI 26

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....I.T. Act, 1961, the following question has been referred to this court for its opinion : " Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that there was no mistake apparent from the record and as such the ITO was not justified in passing the order under s. 154 of the I. T. Act, 1961, and in that view cancelling the order under s. 154 of the ....

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....ing into consideration the depreciation of the earlier years. With a view to rectify the mistake the ITO passed an order under s. 154 of the Act and withdrew the deduction granted to the assessee under s. 80M of the Act, in the original assessment. Against the order of the ITO, the assessee preferred an appeal to the AAC. In the appeal it was submitted on behalf of the assessee that since there....

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....e or after the deduction of the depreciation of the past years as claimed by the assessee ? There is a possibility of two views in respect of this matter and hence it cannot be said that there is a mistake apparent on the face of the record which can be rectified under s. 154 of the Act. In the case of National Engineering Industries Ltd. v. CIT [1978] 113 ITR 252 (Cal), cited at the Bar, it appea....