https://www.taxtmi.com/caselaws?id=66733 The Tribunal upheld the decision in favor of the appellant, dismissing the Department's appeals. It ruled that the Income-tax Officer's correction in 1973, based on the Supreme Court's retrospective decision, was valid under section 154. The Tribunal emphasized the retrospective effect of the Supreme Court decision, justifying the officer's corrective action. The officer's attempt to tax the compensation in 1976 was deemed incorrect, and the appellant's failure to pursue remedies before the Supreme Court decision did not impact the officer's jurisdiction under section 154. en-us Sat, 04 Feb 1978 00:00:00 +0530 Sat, 05 Mar 2011 18:52:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66733 The Tribunal upheld the decision in favor of the appellant, dismissing the Department's appeals. It ruled that the Income-tax Officer's correction in 1973, based on the Supreme Court's retrospective decision, was valid under section 154. The Tribunal emphasized the retrospective effect of the Supreme Court decision, justifying the officer's corrective action. The officer's attempt to tax the compensation in 1976 was deemed incorrect, and the appellant's failure to pursue remedies before the Supreme Court decision did not impact the officer's jurisdiction under section 154. Case-Laws Income Tax Sat, 04 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66733