https://www.taxtmi.com/caselaws?id=330485 Rectification under section 154 could not be used to reduce credit for brought forward unabsorbed depreciation while computing book profit under section 115JB, because no apparent mistake from the record was shown and the assessee was not given proper opportunity. The original assessment had accepted the set-off on the figures available for unabsorbed business loss and depreciation, and the earlier order on carry forward of losses had already attained finality. The lesser amount of unabsorbed depreciation was treated as correctly deducted for book-profit computation, so the rectification order was held unsustainable and deleted. en-us Wed, 15 Jun 2016 00:00:00 +0530 Wed, 27 Jul 2016 12:33:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330485 Rectification under section 154 could not be used to reduce credit for brought forward unabsorbed depreciation while computing book profit under section 115JB, because no apparent mistake from the record was shown and the assessee was not given proper opportunity. The original assessment had accepted the set-off on the figures available for unabsorbed business loss and depreciation, and the earlier order on carry forward of losses had already attained finality. The lesser amount of unabsorbed depreciation was treated as correctly deducted for book-profit computation, so the rectification order was held unsustainable and deleted. Case-Laws Income Tax Wed, 15 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330485