COMMISSIONER OF INCOME TAX Vs. BIHAR FOREST DEVELOPMENT

JUDGEMENT

(1.) AT the instance of the Revenue the Patna Bench of the Income Tax Tribunal had drawn up the statement of case and referred the following question of law for our opinion:

(2.) WHETHER on the facts and in the circumstances of the case the Assessing Officer was correct in initiating proceeding under Section 154 of the I.T. Act?

(3.) MR . Rastogi, appearing on behalf of the assessee submits that the mistake apparent on record in the category of obvious and patent mistake can be rectified but not every mistake. He submits that on detailed analysis one may come to the conclusion that the mistake has been committed but such kind of a mistake cannot be rectified in exercise of the power under Section 154 of the Act. In support of the submission, he has placed reliance on a judgment of the Supreme Court in the case of T.S. Balaram, Income Tax Officer, v. : [1971]82ITR50(SC) in which it has been held as follows: