https://www.taxtmi.com/caselaws?id=334343 The appeal challenged the rejection of the application filed by the assessee under section 154 without basis. The CIT(A) upheld the rejection due to discrepancies in processing under section 143(1). The AO's decision not to allow brought forward losses and depreciation was supported based on the returned income and claim genuineness. The Tribunal emphasized the need for a fair hearing and reconciliation of inconsistencies before making a legal determination. It clarified that rectification under section 143(1) is not permissible once section 143(2) proceedings start, requiring rectification under section 143(3). The appeal was allowed for statistical purposes, remanding the matter for a revised decision. en-us Wed, 21 Sep 2016 00:00:00 +0530 Thu, 10 Nov 2016 17:45:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334343 The appeal challenged the rejection of the application filed by the assessee under section 154 without basis. The CIT(A) upheld the rejection due to discrepancies in processing under section 143(1). The AO's decision not to allow brought forward losses and depreciation was supported based on the returned income and claim genuineness. The Tribunal emphasized the need for a fair hearing and reconciliation of inconsistencies before making a legal determination. It clarified that rectification under section 143(1) is not permissible once section 143(2) proceedings start, requiring rectification under section 143(3). The appeal was allowed for statistical purposes, remanding the matter for a revised decision. Case-Laws Income Tax Wed, 21 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334343