Review u/s 254(2) only if there is a mistake apparent from the record

Brief summary of the case

Assessee-company was engaged in the business of leasing of property and development of properties. It filed its return of income on 29/10/2007, declaring total income of Rs. Nil and the AO finalised the assessment order u/s.143(3) of the Act,1961 on 30.12.2009 by disallowing 1/5th of interest of Rs.63.86 lakhs on borrowed capital (relating to the period upto the date of completion of construction of building). Assessee filed an appeal before the First Appellate Authority (FAA) who dec

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