Decision on a debatable point of law is not a apparent mistake & cannot be rectified u/s 154

Brief of the case: Assessee claimed deductions on account of excise duty paid and interest thereon which was originally allowed by AO but subsequently rectified u/s 154 by making addition of the same. ITAT examined the facts and circumstances of the case and held that decision on a debatable point of law is not a mistake apparent from record and cannot rectified u/s 154. Facts of the case: Assessee filed return of income at loss Rs.29,09,33,405/- which was selected for scrutiny. An assessment was completed under section 143(3) allowing the claim of the assessee in respect of payments made for...