https://www.taxtmi.com/caselaws?id=214054 The High Court upheld the decision of the Income-tax Appellate Tribunal, ruling against the Revenue in a case concerning rectification under section 154 and the carry forward of losses and allowances for the assessment years 1991-92 and 1992-93. The Court cited precedent that rectification under section 154 is not permissible on debatable issues, emphasizing that such issues cannot be considered apparent mistakes. The Tribunal's decision was affirmed, dismissing the Revenue's appeal and denying costs. en-us Wed, 15 Jun 2011 00:00:00 +0530 Tue, 01 May 2012 12:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214054 The High Court upheld the decision of the Income-tax Appellate Tribunal, ruling against the Revenue in a case concerning rectification under section 154 and the carry forward of losses and allowances for the assessment years 1991-92 and 1992-93. The Court cited precedent that rectification under section 154 is not permissible on debatable issues, emphasizing that such issues cannot be considered apparent mistakes. The Tribunal's decision was affirmed, dismissing the Revenue's appeal and denying costs. Case-Laws Income Tax Wed, 15 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214054