https://www.taxtmi.com/caselaws?id=179780 The ITAT dismissed the revenue's Miscellaneous Applications challenging the admission of claims for disallowance of loss and bad debts by the assessee, as well as discrepancies in the revised return for assessment year 2003-04. The tribunal emphasized the limited scope of rectification powers under section 254(2) and the need to rectify mistakes causing prejudice. The matters were remitted to the Assessing Officer for fresh consideration in the interest of justice, with the ITAT upholding its original decisions based on the facts and legal principles presented. en-us Mon, 15 Oct 2012 00:00:00 +0530 Wed, 09 Mar 2016 17:33:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179780 The ITAT dismissed the revenue's Miscellaneous Applications challenging the admission of claims for disallowance of loss and bad debts by the assessee, as well as discrepancies in the revised return for assessment year 2003-04. The tribunal emphasized the limited scope of rectification powers under section 254(2) and the need to rectify mistakes causing prejudice. The matters were remitted to the Assessing Officer for fresh consideration in the interest of justice, with the ITAT upholding its original decisions based on the facts and legal principles presented. Case-Laws Income Tax Mon, 15 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179780