https://www.taxtmi.com/caselaws?id=231299 The Tribunal upheld its original decision, dismissing the Revenue's application for rectification/recall under S.254(2) of the Income-tax Act. The Tribunal found that the tax effect was less than Rs.3 lakhs, as initially determined, and the Revenue failed to demonstrate any errors in the calculations provided by the assessee. Referring to a High Court decision, the Tribunal emphasized that rectification powers are limited to correcting patent errors, which were absent in this case. Therefore, the Tribunal rejected the Revenue's application, maintaining its original decision. en-us Fri, 19 Apr 2013 00:00:00 +0530 Thu, 25 Apr 2013 15:07:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=231299 The Tribunal upheld its original decision, dismissing the Revenue's application for rectification/recall under S.254(2) of the Income-tax Act. The Tribunal found that the tax effect was less than Rs.3 lakhs, as initially determined, and the Revenue failed to demonstrate any errors in the calculations provided by the assessee. Referring to a High Court decision, the Tribunal emphasized that rectification powers are limited to correcting patent errors, which were absent in this case. Therefore, the Tribunal rejected the Revenue's application, maintaining its original decision. Case-Laws Income Tax Fri, 19 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=231299