https://www.taxtmi.com/caselaws?id=342424 The Tribunal allowed the appeal filed by the assessee, overturning the rectification order issued by the Assessing Officer under section 154 of the Income Tax Act. The Tribunal found that the rectification notice was not validly served, leading to a lack of compliance with the principles of natural justice. Additionally, the Tribunal disagreed with the AO's decision to withdraw the set off of losses/depreciation, as these were rightfully claimed and allowed in the original assessment order. The appeal was allowed in favor of the assessee, highlighting the significance of procedural adherence and natural justice in rectification proceedings. en-us Wed, 19 Apr 2017 00:00:00 +0530 Thu, 04 May 2017 07:06:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342424 The Tribunal allowed the appeal filed by the assessee, overturning the rectification order issued by the Assessing Officer under section 154 of the Income Tax Act. The Tribunal found that the rectification notice was not validly served, leading to a lack of compliance with the principles of natural justice. Additionally, the Tribunal disagreed with the AO's decision to withdraw the set off of losses/depreciation, as these were rightfully claimed and allowed in the original assessment order. The appeal was allowed in favor of the assessee, highlighting the significance of procedural adherence and natural justice in rectification proceedings. Case-Laws Income Tax Wed, 19 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342424