1977 (8) TMI 28

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....AL J.--The Commissioner of Income-tax, Patiala, has filed this petition under section 256(2) of the Income-tax Act (hereinafter referred to as "the Act") for a direction to the Tribunal to refer the following question of law to this court which arises out of its order dated February 12, 1976, in I.T.A. No. 880 of 1974-75 : " Whether, on the facts and in the circumstances of the case, the Tribun....

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....e a further sum of Rs. 11,576 representing ten per cent. of the value of the materials amounting to Rs. 1,15,756 supplied by the Government. On appeal by the assessee, the Appellate Assistant Commissioner reversed the said order on the ground that no mistake was apparent from the record to justify the rectification under section 154 of the Act. Having failed in the appeal before the Tribunal, the ....

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....ake and not something which can be established by a long drawn process of reasoning on points on which there may conceivably be two opinions. A decision on a debatable point of law is not a mistake apparent from the record. " Mr. D. N. Awasthy, the learned counsel for the revenue, contended that so far as the authorities under the Act situate within the jurisdiction of this court are concerned,....

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.... purporting to exercise powers under section 154 of the Act, rectified the said assessment on the ground that under section 40(b) of the Act, any interest paid to a partner has to be disallowed. The said order of rectification was reversed on appeal by the Appellate Assistant Commissioner, whose order was further affirmed by the Tribunal. Relying on T. S. Balaram's case [1971] 82 ITR 50 (SC), the ....