https://www.taxtmi.com/caselaws?id=266595 The Tribunal dismissed the appeal challenging the rejection of a rectification application under section 154, based on the retrospective effect of an amendment to the Income-tax Act, 1961. The Tribunal upheld the decision that the amendment to Section 40(a)(ia) was not retrospective, citing conflicting judicial views. It emphasized that for rectification under section 154, errors must be self-evident and not subject to debate, ultimately finding no merit in the rectification application. The Tribunal relied on legal principles and past judgments, affirming the rejection of the application and dismissing the appeal. en-us Fri, 26 Jun 2015 00:00:00 +0530 Tue, 20 Oct 2015 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266595 The Tribunal dismissed the appeal challenging the rejection of a rectification application under section 154, based on the retrospective effect of an amendment to the Income-tax Act, 1961. The Tribunal upheld the decision that the amendment to Section 40(a)(ia) was not retrospective, citing conflicting judicial views. It emphasized that for rectification under section 154, errors must be self-evident and not subject to debate, ultimately finding no merit in the rectification application. The Tribunal relied on legal principles and past judgments, affirming the rejection of the application and dismissing the appeal. Case-Laws Income Tax Fri, 26 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266595