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the claim for interest deductions under section 43B of the Income Tax Act, which was omitted by the Appellant/assessee company while filing the original returns can be adjudicated by the assessing officer only through a process of investigation. Even as seen from the computation of income filed along with the rectification applications filed under section 154 of the Income Tax Act, the Assessee has produced a self serving statement of account disclosing interest payments which does not exactly tally with the computation of income filed along with the section 154 applications. Therefore, unless and until a complete investigation is done by the assessing officer, the quantum of deduction for interest payments cannot be ascertained. Hence, the omission claimed by the Appellant/Assessee will not fall under the category of a “mistake apparent from the record”. Unless and until, the tax returns disclosed interest payments, it is impossible for the assessing officer to assist the Appellant/Assessee to rectify the alleged mistake of omission to claim deduction for interest payments under section 43B of the Income Tax Act. 18. For the foregoing reasons, the concurrent findings of the authorities below does not suffer from any perversity or illegality and the substantial questions of law raised by the Appellant/assessee in these taxcaseappeals does not deserve any merit and are answered against the Appellant/Assessee and the TaxCaseAppeals are dismissed. No costs.

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Sec. 154 of Income Tax Act, 1961— Rectification of mistake —Assessee has filed returns of income tax for the Assessment Years 2003-04 and 2004-05. Assessee omitted to claim deduction for the interest amounts paid by them to Industrial Development Bank of India under Section 43B of the Income Tax Act. After noticing the mistake of omitting to claim deduction for interest payments, assessee filed separate petitions under Section 154 of the Income Tax Act, 1961 seeking rectification of the mistake on account of the said omission. The Assessing Officer rejected the rectification petitions on 06.06.2007 by separate orders on the ground that the mistake is not apparent from the record as it involves debatable point of law. Order passed by the Assessing Officer, assessee preferred the statutory appeals before the Commissioner of Income Tax. The Commissioner of Income Tax (Appeals) confirmed the orders of the Assessing Officer by dismissing the appeals on 28.11.2011 by separate orders on the ground that merely by relying on figures given in financial statements, one cannot arrive at the amount allowable under Section 43B especially when the quantum of principal and interest waived in one time settlement is not apparent from record. Assessee preferred separate Appeals before the Income Tax Appellate Tribunal. The Income Tax Appellate Tribunal by a common order dated 11.10.2012 for both the Assessment Years dismissed the Appeals and confirmed the findings of the Assessing Officer as well as the Commissioner of Income Tax (Appeals), these Tax Case Appeals have been filed under Section 260-A of the Income Tax Act, 1961. Circular has no bearing to the facts of the present case as the payment of interest to IDBI was never disclosed by the Assessee in the income tax returns. the concurrent findings of the authorities below does not suffer from any perversity or illegality and the substantial questions of law raised by the assessee in these tax case appeals does not deserve any merit and are answered against the Assessee and the Tax Case Appeals were dismissed. --- NAGARAJ AND COMPANY PVT. LTD. Asstt. CIT.[2020] 23 ITCD Online 1 (MAD)