Rectification for missed Form 10IC filing denied, as omission was not a mistake apparent from the record under section 154.

Rectification under section 154 was held unavailable to substitute the concessional tax regime under section 115BAA where Form 10IC had not been filed with the return of income. The intimation under section 143(1) applied the normal tax rate on that basis, and the omission did not constitute a mistake apparent from the record for section 154 purposes. The argument that adjustment under section 143(1) required prior opportunity was not examined. The rectification claim was therefore rejected and the denial of relief sustained in favour of the Revenue.

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Issues: Whether the assessee was entitled to rectification under section 154 of the Income-tax Act, 1961, to apply the concessional tax rate under section 115BAA on the basis of Form 10IC filed after filing of the return.

Analysis: The assessee had not filed Form 10IC along with the return of income, and the intimation under section 143(1) applied the normal rate of tax on that basis. Rectification under section 154 is confined to a mistake apparent from the record, and the non-filing of the prescribed form with the return did not disclose such a mistake. The objection regarding opportunity before adjustment under section 143(1) was not examined in this appeal.

Conclusion: The rectification claim was not maintainable and the denial of relief was upheld, against the assessee and in favour of the Revenue.

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