2007 (6) TMI 194

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....of the case, the Tribunal was right in holding that rectification of the deduction granted by taking the correct figure from the audit certificate produced by the assessee is a debatable issue, not permissible u/s 154? 2. Whether on the facts and circumstances of the case, the Tribunal was right in holding that the issue is decided in the Revenue's favour on merits, but allowing the appeal on the ground that the rectification was beyond the scope of sec.154?" 2. The facts leading to the above substantial questions of law are as under:- 3. The assessee is a Private Limited Company incorporated under the Companies Act. The relevant assessment year is 1998-99 and the corresponding accounting year ended on 31.03.1998.  The assesse....

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....er Section 115JA of the Act.  Aggrieved, the assessee filed an appeal to the Income-tax Appellate Tribunal ("Tribunal" in short).  The Tribunal allowed the appeal and set aside the order of the C.I.T.(A).   Hence the present tax case by the Revenue.  4. Learned Sr. Standing Counsel appearing for the Revenue submitted that there is a mistake on the face of the record. It is also submitted that the Assessing Officer had found out a wrong claim made by the assessee and hence the Assessing Officer is right in rectifying the assessment order under Section 154 of the Act. It is also further submitted that the application of the provisions of Section 115JA and mandatory provisions are to be applied, and in following the....