https://www.taxtmi.com/caselaws?id=208082 The Tribunal dismissed the Revenue's application for rectification under section 254(2) of the IT Act, citing the debatable nature of the issue and the settled status based on previous judicial decisions. The Tribunal highlighted that at the time of its decision, there was no superior court judgment on the matter, thus the rectification was deemed unnecessary. The conflicting views on the levy of surcharge in block assessments and the retrospective operation of legal interpretations further contributed to the dismissal of the rectification application. en-us Tue, 15 Feb 2011 00:00:00 +0530 Wed, 04 Jan 2012 08:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208082 The Tribunal dismissed the Revenue's application for rectification under section 254(2) of the IT Act, citing the debatable nature of the issue and the settled status based on previous judicial decisions. The Tribunal highlighted that at the time of its decision, there was no superior court judgment on the matter, thus the rectification was deemed unnecessary. The conflicting views on the levy of surcharge in block assessments and the retrospective operation of legal interpretations further contributed to the dismissal of the rectification application. Case-Laws Income Tax Tue, 15 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208082