https://www.taxtmi.com/caselaws?id=117033 The Appellate Tribunal set aside the lower authorities' orders and allowed the assessee's appeals regarding rectification under section 154 of the Income-tax Act for depreciation rates in assessment years 1992-93 and 1993-94. The Tribunal emphasized that rectification should address clear errors, not revisit decisions based on valid explanations, aligning with legal principles that rectification powers do not extend to reviewing assessed matters. The judgment underscored the importance of upholding the integrity of the assessment process and respecting the boundaries of rectification powers under the law. en-us Wed, 09 Apr 2003 00:00:00 +0530 Tue, 19 Jun 2012 17:02:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117033 The Appellate Tribunal set aside the lower authorities' orders and allowed the assessee's appeals regarding rectification under section 154 of the Income-tax Act for depreciation rates in assessment years 1992-93 and 1993-94. The Tribunal emphasized that rectification should address clear errors, not revisit decisions based on valid explanations, aligning with legal principles that rectification powers do not extend to reviewing assessed matters. The judgment underscored the importance of upholding the integrity of the assessment process and respecting the boundaries of rectification powers under the law. Case-Laws Income Tax Wed, 09 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117033