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TMI Blog2015 (7) TMI 1401X X X X Extracts X X X X X X X X Extracts X X X X ..... ible that itself 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. Similarly, the addition made on account of provision for doubtful debts whether to be added while computing book profits under section 115JB has been a quite debatable issue. Under such circumstances, the invoking of provisions of section 154 by the AO on debatable issue was beyond his jurisdiction. It is not a case of any mistake apparent on the record. The AO passed the assessment order u/s 143(3) of the Act on the basis of material available before him. It has been time and again held by the higher courts that if the alleged mistakes require investigation into facts or determination of la ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3,866/- on account of diminution in value of current investment and ₹ 3,00,542/- on account of provision for doubtful debts had remained to be added to the net profit for computation of book profit under section 115JB. He accordingly issued notice under section 154/155 of the Act to the assessee. After considering the reply of the assessee, he accepted the contention of the assessee in relation to disallowance on account of diminution in value of current investment. However, he rejected the contention of the assessee in relation to the proposed addition under section 14A of the Act as well as on account of provision for doubtful debts and accordingly added the above stated amounts into the book profits under section 115JB and assessed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... elied upon the findings of the lower authorities. 5. We have considered the rival contentions of the Ld. Representatives of the parties. The Ld. D.R. has relied upon the decision of the Tribunal in the case of Ferani Hotels Pvt. Ltd. in ITA No.857/M/2013 order dated 17.11.2014 wherein the Tribunal has held that the disallowance computed under section 14A read with Rule 8D is to be added while computing book profits under section 115JB. On the other hand, the Ld. A.R. has relied upon the decision of the Tribunal in the case of Quippo Telecom Infrastructure vs. ACIT in ITA No.4931/Del/2010 order dated 29.07.11 and further in the case of JSW Energy Ltd. vs. ACIT in ITA No.244/Bang./2010 order dated 22.02.13 wherein the other ..... X X X X Extracts X X X X X X X X Extracts X X X X
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