Debatable issue cannot be rectified u/s. 154 of the Income Tax Act

ACIT Vs Villupuram District Central Co-operative Bank Ltd (ITAT Chennai)

ITAT Chennai held that only the mistake apparent from record which can be rectified but where two views are possible or there is a debate available, it cannot be rectified u/s.154 of the Income Tax Act.

Facts- The assessee is a co-operative bank. The assessee’s case was selected for scrutiny assessment under CASS. The AO made certain additions by making disallowance of inadmissible items and also re

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