https://www.taxtmi.com/caselaws?id=66594 The Tribunal allowed the appeal of the assessee, holding the rectification order dated 25-9-1991 as illegal and unjustified. It emphasized the bona fide nature of the assessee's claim for set-off of past losses and noted that the retrospective amendment to section 28 altered the legal position, impacting the assessee's claim. The Tribunal also ruled that the initial intimation merged into the regular assessment order, rendering any subsequent rectification invalid. en-us Mon, 22 Nov 1993 00:00:00 +0530 Sat, 05 Mar 2011 10:18:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66594 The Tribunal allowed the appeal of the assessee, holding the rectification order dated 25-9-1991 as illegal and unjustified. It emphasized the bona fide nature of the assessee's claim for set-off of past losses and noted that the retrospective amendment to section 28 altered the legal position, impacting the assessee's claim. The Tribunal also ruled that the initial intimation merged into the regular assessment order, rendering any subsequent rectification invalid. Case-Laws Income Tax Mon, 22 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66594