https://www.taxtmi.com/caselaws?id=13916 A rectification under section 154 read with section 155(7A) of the Income-tax Act, 1961 could not be sustained for assessment year 1972-73 because section 155(7A) was inserted later, with retrospective effect only from 1 April 1974. The provision was therefore unavailable for an earlier assessment year, and the Tribunal was correct in holding that the Income-tax Officer lacked jurisdiction to pass the rectification order on that basis. The governing principle is that a rectification provision brought in retrospectively from a specified date cannot be applied to an assessment year preceding that date unless the statute clearly authorises such application. en-us Mon, 23 Jul 2001 00:00:00 +0530 Mon, 06 Jul 2009 10:53:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13916 A rectification under section 154 read with section 155(7A) of the Income-tax Act, 1961 could not be sustained for assessment year 1972-73 because section 155(7A) was inserted later, with retrospective effect only from 1 April 1974. The provision was therefore unavailable for an earlier assessment year, and the Tribunal was correct in holding that the Income-tax Officer lacked jurisdiction to pass the rectification order on that basis. The governing principle is that a rectification provision brought in retrospectively from a specified date cannot be applied to an assessment year preceding that date unless the statute clearly authorises such application. Case-Laws Income Tax Mon, 23 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13916