https://www.taxtmi.com/caselaws?id=78692 The Supreme Court allowed the civil appeal, directing the Tribunal to decide the matter afresh regarding the rectification of an order under Section 254(2) of the Income Tax Act, 1961 for Assessment Year 1998-1999. The Court found the Tribunal's refusal to rectify its order to be incorrect, noting the potential categorization of expenditure under the Capital Account as per the assessee's alternate submission. The High Court's judgment was set aside, and the matter was remitted back to the Tribunal for a fresh decision in accordance with relevant case law and the merits of the case. en-us Thu, 02 Dec 2010 00:00:00 +0530 Thu, 20 Dec 2012 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78692 The Supreme Court allowed the civil appeal, directing the Tribunal to decide the matter afresh regarding the rectification of an order under Section 254(2) of the Income Tax Act, 1961 for Assessment Year 1998-1999. The Court found the Tribunal's refusal to rectify its order to be incorrect, noting the potential categorization of expenditure under the Capital Account as per the assessee's alternate submission. The High Court's judgment was set aside, and the matter was remitted back to the Tribunal for a fresh decision in accordance with relevant case law and the merits of the case. Case-Laws Income Tax Thu, 02 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78692