Assessee can’t file rectification application to claim deduction which is debatable in nature

INCOME TAX: Where assessee-company omitted to claim deduction under section 54B on account of interest paid on loan, since allowability of deduction under section 43B on account of interest payment was a debatable issue and it required further investigation, said omission to claim deduction in original return was not a mistake coming within purview of section and in case of such omission only remedy available was under section 139(5)

from www.taxmann.com Latest Case Laws https://www.taxmann.com/topstories/101010000000194175/assessee-can’t-file-rectification-application-to-claim-deduction-which-is-debatable-in-nature.aspx
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