https://www.taxtmi.com/caselaws?id=151062 The Tribunal dismissed all miscellaneous applications for rectification under section 254(2) of the Income-tax Act for assessment years 2000-01 to 2005-06. The Tribunal held that changing the valuation method during assessment proceedings under section 153A was impermissible, emphasizing the limited scope of rectification to correcting clear errors in the record. The decision highlighted the importance of consistency in accounting methods and clarified that rectification cannot be used to challenge established legal principles or revisit decisions based on personal disagreement. en-us Fri, 12 Mar 2010 00:00:00 +0530 Thu, 17 Oct 2013 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151062 The Tribunal dismissed all miscellaneous applications for rectification under section 254(2) of the Income-tax Act for assessment years 2000-01 to 2005-06. The Tribunal held that changing the valuation method during assessment proceedings under section 153A was impermissible, emphasizing the limited scope of rectification to correcting clear errors in the record. The decision highlighted the importance of consistency in accounting methods and clarified that rectification cannot be used to challenge established legal principles or revisit decisions based on personal disagreement. Case-Laws Income Tax Fri, 12 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151062