Section 54EC, 115JB of Income Tax Act, 1961—In the instant case, issue is that whether while computing the assessee's income under section 115JB of the Income Tax Act any adjustment under section 54EC of the Act can be made?

Held that—Undisputed fact is that the Tribunal directed the Assessing Officer to compute the assessee's book profit in a particular manner. The Assessing Officer correctly understood such direction and gave effect to the Tribunal's order also. He now proposes to rectify his order giving effect to the Tribunal's judgment on the ground that there had been an apparent error.

In our opinion therefore, there had been no error in the Assessing Officer's order dated 12.12.2017 implementing the Tribunal's direction. It may be that the Revenue has certain disputes with the proposition that the Tribunal adopted while giving such direction. Such issue is not before us and we would therefore not comment on the same. However, as long as an order of the Tribunal stands, the assessment order was required to be implemented. Further having implemented it, it was simply not open for him to exercise power of rectification which is meant for correcting any error apparent on record.[SURESHCHANDRA KANTILAL ACHARYA VERSUS ADDITIONAL CHIEF SECRETARY] [2018] [6] [ITCD Online][136][GUJARAT HIGH COURT]