When deductions claimed by the assessee are debatable, rectification order u/s 154 cannot be passed

Transpek Si-lox Industry Ltd Vs Dy. CIT (ITAT Ahemdabad)- Mistake apparent from record must be obviously and patent and not something which can be established by a long drawn process of reasoning on points on which there may conceivably be two opinions. A decision on a debatable point of law is not a mistake apparent from the record as held by Honourable Supreme Court in the case of T.S. Balaram, ITO Vs. Volkart Brothers, 82 ITR 50 (SC).

Interest under s 234D — Section introduced with effect from 12 June 2003 and is applicable for any refund granted after this date, irrespective of the assessment year.

Transpek Silox Industry Ltd v Dy. CIT

ITAT BENCH ‘D’ AHMEDABAD

ITA No. 12/Ahd/2009

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