B. R. Agrotech Ltd. v. ACIT (2021) 90 ITR 77 (SN) (Delhi)(Trib.)

S. 154 : Rectification of mistake-Excise duty refund Capital receipt-Capital subsidy liable to be excluded-Failure to consider subsequent judgement Supreme Court or Jurisdictional High Court-Mistake apparent from record. [S. 4, 115JB]

Held that not considering the subsequent interpretation of law through the judgment of the Supreme Court or the jurisdictional High Court would constitute a mistake apparent from record.  The excise duty refund received by the assessee was to be treated as capital receipt.Capital subsidy was liable to be excluded in computing the book profits under section 115JB of the Act. (AY.  2011-12 to 2014-15)