https://www.taxtmi.com/caselaws?id=67350 The Income Tax Appellate Tribunal (ITAT) allowed the appeal, overturning the previous decisions, and directed rectification of the status declared by the assessee as 'individual' instead of 'HUF' in wealth tax returns under section 35 of the Wealth Tax Act, 1957. The ITAT held that the discrepancy was a clear mistake apparent from the records, emphasizing the need for consistency in status declaration across tax returns. The judgment clarified the application of section 35 in rectifying such discrepancies, ruling in favor of the assessee. en-us Wed, 16 Nov 1977 00:00:00 +0530 Thu, 10 Mar 2011 11:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67350 The Income Tax Appellate Tribunal (ITAT) allowed the appeal, overturning the previous decisions, and directed rectification of the status declared by the assessee as 'individual' instead of 'HUF' in wealth tax returns under section 35 of the Wealth Tax Act, 1957. The ITAT held that the discrepancy was a clear mistake apparent from the records, emphasizing the need for consistency in status declaration across tax returns. The judgment clarified the application of section 35 in rectifying such discrepancies, ruling in favor of the assessee. Case-Laws Wealth-tax Wed, 16 Nov 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67350