D. MURUGESAN, J.

1. This Tax Case Appeal is at the instance of the Revenue questioning the order passed by the Chennai 'A' Bench, Chennai, in I.T.A.No.1924/ Mds/1993 dated 18.02.2004 for the Assessment Year 1987-88, on the following questions of law:-

"1. Whether in the facts and circumstances of the case, the Tribunal was right in holding that the assessing officer had in the guise of rectifying an arithmetical mistake sought to rectify a debatable question of law?

2. Whether the re-calculation of the eligible profit under Section 32AB by deleting the expected return of customs duty, which was not included in the computation of income is an error rectifiable under Section 154 of the Income Tax Act?”

2. The assessee is engaged in the manufacture of electrical items. The relevant assessment year is 1987-88 and the corresponding accounting year ended on 31.03.1987. The original assessment was filed by the assessee declaring income of Rs.65,55,668/- on 27.08.1987. Later revised return was also filed on 08.12.1989 disclosing total income of Rs.1,11,78,051/-. The assessment was completed on the total income of Rs.2,60,25,256/- under Section 143(3) of the Act. In both the