- (1.) The High Court answered in the affirmative and against the Revenue the following question : "Whether on the facts and in the circumstances of the case the Tribunal was justified in upholding the finding of the learned C.I.T. (A) who cancelled the order of the Assessing Officer passed on 18-6-1991 under S. 154 of the Income-tax Act, 1961 -
(2.) The Revenue is in appeal. The order of assessment was made on 30th March, 1990. It was then rectified under S. 154 of the Income-tax Act, 1961 because the assessing officer found that depreciation under the Companies Act had been allowed at Rs. 11,53,374/- whereas it was actually allowable at Rs. 11,38,057/-. He also found that unabsorbed depreciation had been taken at Rs. 12,00,368/- as against unabsorbed loss of Rs. 17,230/-. He was of opinion that there was a mistake apparent from the record and he made the rectification after giving to the assessee the opportunity of being heard.
(3.) In appeal, the Commissioner of Income-tax (Appeals) cancelled the order under S. 154. He noted that the mistake to be rectified had to be apparent from the record; it had to be an obvious mistake and not something on which there might conceivably be two points of view. The Income-tax Appellate Tribunal confirmed the view taken by the Commissioner (Appeals).;