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TMI Blog2019 (4) TMI 2050X X X X Extracts X X X X X X X X Extracts X X X X ..... r And Shri Pavan Kumar Gadale, Judicial Member For the Assessee : Sri Shree Hari Kutsa. For the Revenue : Sri I.T. Prakash, Addl. CIT. ORDER PER PAVAN KUMAR GADALE, JM. The assessee has filed an appeal against the order of the CIT (A)-4, Bangalore, dated 27/03/2018 passed u/s 154 and u/s 250 of the IT Act, 1961 for the assessment year 2013-14. The assessee has raised the following grounds of appeal:- (1) The order of the Ld. Commissioner passed u/s 250 of the Act is opposed to law, equity, weight of evidence, probabilities and the facts and circumstances in the appellant s case. (2) The Ld. CIT (A) is not justified in holding that the jurisdiction assumed by the Ld. AO under the provisions o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peal before the Tribunal. 4. Before us, Ld. AR submitted that the CIT (A) erred in confirming the addition made by the Assessing Officer in determining the Book Profitss u/s 115JB. Prima facie the disallowance u/s 14A should not be considered for determining the Book Profitss as it is a restrictive provision and the Ld. AR supported his stand by filing the written submissions and judicial decisions. 5. Contra, Ld. DR relied on the orders of the lower authorities. 6. We have heard the rival submissions and perused the material available on record. The sole disputed issue is in respect of disallowance u/s 14A for determining the Book Profits u/s 115JB. The Assessing Officer has completed assessment u/s 143(3) and subsequently w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome as per the prescribed method. If the tax liability on the basis of total income as per MAT provisions is more than the tax computed under the normal provisions of the Act, then the former becomes the final tax liability of the assessee. The mode of computation of Book Profits has been prescribed under MAT provisions. The issue posed for our consideration is whether computation provisions prescribed for computation of total income under normal provisions with reference to section 14A can or cannot be taken into consideration while computing Book Profitss under MAT provisions. 7. Further, the Ld. AR submitted that as per the financial statements referred at page 30 of the Paper Book, there is no dividend income received by the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ebited to the Profit Loss account is to be taken into consideration while computing the Book Profits under section 115JB. This shows that the issue is quite debatable and under such circumstances, in our view, it was beyond the powers of the AO, exercisable under section 154 to make an addition on a debatable issue as the original assessment in this case had been completed under section 143(3) of the Act. Merely because another view is possible cannot be a ground to rectify the order under section 154 of the Act as the same cannot be said to be a mistake apparent on record. ITAT Mumbai Bench has also taken a similar view in the case of Beekaylon Synthetics Pvt. Ltd v. ACIT in ITA No. 7558/Mum/2013 which we respectfully follow and hold tha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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