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TMI Blog2023 (4) TMI 475X X X X Extracts X X X X X X X X Extracts X X X X ..... me cannot be subject of rectification u/s. 154 of the Act. The case law relied on by the ld. DR is not applicable to the facts of the present case. Issue decided in favour of assessee as decided in assessee own case [ 2022 (10) TMI 340 - ITAT BENGALURU] as held that invoking section 154 would be untenable when the matter requires adjudication upon the issue which is debatable issue - AO is not correct in enhancing the book profits u/s.115JC by passing an order under Section 154 - Decided against revenue. - ITA No.96/Bang/2023 - - - Dated:- 11-4-2023 - Shri N.V. Vasudevan, Vice President And Shri Laxmi Prasad Sahu, Accountant Member For the Appellant : Shri Chattaraj, Advocate For the Respondent : Ms. Neera Malhotra, CIT(DR)(I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rmined at Rs.37,49,310. 4. The assessee filed appeal before the CIT(Appeals) and contended that the AO has wrongly invoked section 154. The CIT(Appeals) after considering the submissions of the assessee and relying on various judgments allowed the appeal of the assessee. The revenue is in appeal before the Tribunal. 5. The ld. DR submitted that the CIT(Appeals) has wrongly allowed the appeal of the assessee by observing that there are two possible views. She submitted that while computing the assessed income, the AO wrongly calculated the MAT taxable income which has been now corrected by applying section 154 of the Act. There was a mistake in the figures chosen by the AO in the computation of MAT. She strongly argued that there was a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the present case. We note that the coordinate Bench of this Tribunal in assessee s own case for the preceding two assessment years AYs 2015-16 2016-17 in ITA Nos.575 694/Bang/2022 by order dated 22.9.2022 has decided the issue in favour of the assessee on a similar issue as follows:- 8. We have heard the rival contentions and perused the material on record. During the course of hearing the learned AR presented arguments on merits stating that the impugned additions made based on the admissions made during the course of survey are not tenable. The learned AR also argued on the legal issue whether the additions to book profits can be done by an order of rectification u/s154. For the purpose of adjudication we will only consider the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Pvt Ltd [IT Appeal No. 244 of 2021, dated 25-10-2021] which considered in the case of J.J. Glastronics P. Ltd (supra) held that invoking section 154 would be untenable when the matter requires adjudication upon the issue which is debatable issue. In view of these discussions and considering the decisions of the jurisdictional High Court we hold that the AO is not correct in enhancing the book profits u/s.115JC by passing an order under Section 154 of the Act. We therefore see no reason to interfere with the order of the CIT(A) for both the assessment years. 8. Respectfully following the above judgment, we dismiss the appeal of the revenue. 9. In the result, the appeal by the revenue is dismissed. Pronounced in the open court on t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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