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Section 154, read with section 33(6), of the income-tax act, 1961-Rectification of mistakes-Development rebate originally allowed on electricity meters-Later on, ITO took contrary view and proceeded to withdraw the same-Bombay and calcutta benches of appellate tribunal had taken a view on aforesaid question which was in petitioner's favour-Whether action under section 154 could be taken-Held, on facts, no Facts For the assessment year 1970-71, the petitioner-company was originally allowed development rebate on the meters supplied by it to its consumers. Later on, the ITO took the view that in view of the provisions of section 33(6), the aforesaid rebate was wrongly allowed and, therefore, he proceeded to rectify the same under section 154. On writ : Held If two views are possible or conceivable on the interpretation of any provision, there cannot be a mistake apparent on the face of the record which attracts section 154. In the instant case, the ITO had taken a view on the interpretation of section 33(6) which was contrary to the views of Bombay and Calcutta Benches of the Appellate Tribunal. This was sufficient to show that not only were two different views conceivable but two different views in fact were taken by two competent authorities referred to above. Therefore, section 154 could have no application to the present case. Editor's note The High Court did not pronounce on merits of the rival contentions as to the interpretation of section 33(6). Case review T.S. Balaram, ITO v. Volkart Bros. [1971] 82 ITR 50 (SC) followed. Cases referred to T.S. Balaram, ITO v. Volkart Brothers [1971] 82 ITR 50 (SC), ITO v. India Foils Ltd. [1973] 91 ITR 72 (Cal.), Tinnevelly-Tuticorin Tea & Investment Co. Ltd. v. ITO (I.T.A. Nos. 5580 and 5581 (Cal.), Addl. CIT v. District Co-operative Bank Ltd. [1979] 119 ITR 142 (All.), Thana Electric Supply Co. Ltd. v. ITO (I.T.A. No. 3081 (Bom.) and Satyanarayan Laxminarayan Hegde v. Mallikarjun Bhavanappa Tirumale AIR 1960 SC 137. JUDGMENT T.K. Basu, J. - In this application, the petitioner challenges a notice under section 154/155 of the Income-tax Act, 1961, issued by respondent No. 1. The notice relates to the assessment year…

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