9911796707
TMI Blog2002 (8) TMI 21X X X X Extracts X X X X X X X X Extracts X X X X ..... dered as a mistake apparent on the record rectifiable under section 154, despite the fact that when the Tribunal decided the appeal, the issue was no longer debatable as far as the State of Rajasthan was concerned, in view of the decision of the Rajasthan High Court in the case of CIT v. Shiv Raj Bhatia?" - we answer the question in the negative, i.e., in favour of the Revenue and against the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... May 1, 1996)?" The assessee is a Development Officer of the Life Insurance Corporation. In the year under consideration, the assessee claimed deduction of 50 per cent. on account of expenditure out of the incentive bonus earned by him. The return was processed under section 143(1)(a) without any adjustment being made to the returned income. The Assessing Officer, however, subsequently withdrew ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... volved in this case has been considered by this court in the case of CIT v. Shiv Raj Bhatia [1997] 227 ITR 7, vide order dated May 1, 1996, holding that when the assessee is an employee of the Life Insurance Corporation and received any incentive bonus, no deduction can be allowed out of that incentive bonus in the name of expenditure. Mr. Singhi further submits that when there is a decision of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on that date, the Tribunal cannot say that the issue is debatable so far Rajasthan State is concerned. When the issue is not debatable, the Tribunal has committed error in holding that the issue is debatable in spite of the decision of the jurisdictional High Court in Shiv Raj Bhatia's case [1997] 227 ITR 7 (Raj), which is binding on the income-tax authorities including the Tribunal. In the res ..... X X X X Extracts X X X X X X X X Extracts X X X X
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