https://www.taxtmi.com/caselaws?id=221425 The High Court upheld the Tribunal's decision in an appeal by the Revenue, emphasizing the independence of the Assessing Officer's judgment in assessments. The Court ruled that the CBDT circular preventing assessed income from falling below the return income was invalid. It clarified that the issue was not a case of rectification under Section 154 of the Income Tax Act, as there was no obvious mistake to rectify. The Court dismissed the Tax Appeal, citing previous judgments and highlighting the quasi-judicial nature of the Assessing Officer's functions. en-us Tue, 24 Jan 2012 00:00:00 +0530 Mon, 11 Mar 2013 13:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221425 The High Court upheld the Tribunal's decision in an appeal by the Revenue, emphasizing the independence of the Assessing Officer's judgment in assessments. The Court ruled that the CBDT circular preventing assessed income from falling below the return income was invalid. It clarified that the issue was not a case of rectification under Section 154 of the Income Tax Act, as there was no obvious mistake to rectify. The Court dismissed the Tax Appeal, citing previous judgments and highlighting the quasi-judicial nature of the Assessing Officer's functions. Case-Laws Income Tax Tue, 24 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221425