https://www.taxtmi.com/caselaws?id=336235 The Tribunal ruled in favor of the appellant on both issues. Regarding the time limitation for filing an application under section 154 of the Income Tax Act, the Tribunal held that the application was not time-barred, as the limitation period should be calculated from the end of the financial year in which the order sought to be amended was passed. On the treatment of reversed provisions for custom duty in the calculation of income under MAT, the Tribunal directed the AO to exclude the reversed provisions from the income under MAT, as no deduction was allowed earlier. The appeal was allowed, and the order of the CIT(A) was set aside. en-us Wed, 14 Dec 2016 00:00:00 +0530 Sat, 17 Dec 2016 18:36:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336235 The Tribunal ruled in favor of the appellant on both issues. Regarding the time limitation for filing an application under section 154 of the Income Tax Act, the Tribunal held that the application was not time-barred, as the limitation period should be calculated from the end of the financial year in which the order sought to be amended was passed. On the treatment of reversed provisions for custom duty in the calculation of income under MAT, the Tribunal directed the AO to exclude the reversed provisions from the income under MAT, as no deduction was allowed earlier. The appeal was allowed, and the order of the CIT(A) was set aside. Case-Laws Income Tax Wed, 14 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336235