https://www.taxtmi.com/caselaws?id=69156 The Tribunal allowed the Revenue's appeal, setting aside the CIT(Appeals) order and restoring the Assessing Officer's decision under section 154 of the Income-tax Act, 1961. The Tribunal held that the assessee was not entitled to carry forward and set off business loss against income determined under section 115J, based on the recent judgment by the Hon'ble Madras High Court. The rectification proceedings initiated by the Assessing Officer under section 154 were deemed justified, as the benefit of set off granted in the original assessment was considered a mistake apparent on record. en-us Tue, 21 Jan 2003 00:00:00 +0530 Tue, 05 Apr 2011 14:32:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69156 The Tribunal allowed the Revenue's appeal, setting aside the CIT(Appeals) order and restoring the Assessing Officer's decision under section 154 of the Income-tax Act, 1961. The Tribunal held that the assessee was not entitled to carry forward and set off business loss against income determined under section 115J, based on the recent judgment by the Hon'ble Madras High Court. The rectification proceedings initiated by the Assessing Officer under section 154 were deemed justified, as the benefit of set off granted in the original assessment was considered a mistake apparent on record. Case-Laws Income Tax Tue, 21 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69156