https://www.taxtmi.com/caselaws?id=11923 Rectification under section 154 is unavailable where applying section 161(1A) requires resolving the debatable question whether "income" includes loss. Unlike section 64, whose Explanation expressly includes loss within income, section 161(1A) contains no equivalent provision. The Tribunal's conclusion that the intimation under section 143(1) could not be rectified on this issue was upheld. Consequently, the assessee could not invoke rectification, and the substantive question on applying the maximum marginal rate to loss did not survive. en-us Tue, 24 Sep 2002 00:00:00 +0530 Fri, 12 Feb 2010 12:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11923 Rectification under section 154 is unavailable where applying section 161(1A) requires resolving the debatable question whether "income" includes loss. Unlike section 64, whose Explanation expressly includes loss within income, section 161(1A) contains no equivalent provision. The Tribunal's conclusion that the intimation under section 143(1) could not be rectified on this issue was upheld. Consequently, the assessee could not invoke rectification, and the substantive question on applying the maximum marginal rate to loss did not survive. Case-Laws Income Tax Tue, 24 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11923