https://www.taxtmi.com/caselaws?id=3385 The Supreme Court clarified the distinction between rectification under Section 154 and revision under Section 263 of the Income-tax Act. It emphasized the Commissioner's power to revise assessments prejudicial to revenue and the limited scope of rectification for errors on record. The Court highlighted the importance of subordinate authorities following higher authority orders and addressed the non-application of the Merger doctrine to revision orders. The Court set aside the judgment, directing the Commissioner to reconsider based on the rectification order, allowing the appeal without costs. en-us Thu, 04 Jan 2007 00:00:00 +0530 Thu, 04 May 2023 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3385 The Supreme Court clarified the distinction between rectification under Section 154 and revision under Section 263 of the Income-tax Act. It emphasized the Commissioner's power to revise assessments prejudicial to revenue and the limited scope of rectification for errors on record. The Court highlighted the importance of subordinate authorities following higher authority orders and addressed the non-application of the Merger doctrine to revision orders. The Court set aside the judgment, directing the Commissioner to reconsider based on the rectification order, allowing the appeal without costs. Case-Laws Income Tax Thu, 04 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3385