Rectification Not Available for Debatable Income Tax Matters: ITAT [Read Order]
The Tribunal held that since the issue was debatable and pending final resolution in higher courts, it did not qualify as a "mistake apparent on record" under Section 154 of tax statute
By Varda Marakkar - On October 6, 2024 11:41 am - 2 mins read
In a recent ruling, the Income Tax Appellate Tribunal ( ITAT ) of Delhi held that rectification is not ermissible for debatable issues related to income tax matters. The case in question involved the assessee, Beacon Higher Education Services Pvt. Ltd., who had claimed depreciation on a non-compete fee under the Income-tax Act, 1961 (…
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