Applicability of section 115bbe

An assessment of the client has been done as a protective assessment by AO, he has made an addition U/s 68 & 69.

Now AO wants to rectify his order U/s 154 by applying section 115BBE on unexplained money instead of section 68/69.

The matter is in Appeal, but decision has not been made is this rectification possible.

Replies (1)
I think 'no'. Even PCIT cannot exercise revisionery powers u/s 263 since the issue is disputed in appeal. However, AO may bring to the notice of the CIT(A) the matter of applicability of section 115BBE in respect addition made u/s 68 & 69 for consideration since the powers of CIT(A) are co-terminus with that of AO.

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