https://www.taxtmi.com/caselaws?id=365387 The High Court upheld the decision of the Tribunal and ruled in favor of the respondent, stating that the order passed under Section 154 of the Income Tax Act was not valid. The court emphasized that Section 154 is meant to rectify obvious mistakes, not errors requiring extensive reasoning. Since the original assessment order was thorough, the court found no justification for correction under Section 154. Consequently, the Tax Appeal was dismissed as no substantial question of law arose, affirming the Tribunal's decision. en-us Mon, 23 Jul 2018 00:00:00 +0530 Thu, 16 Aug 2018 08:00:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365387 The High Court upheld the decision of the Tribunal and ruled in favor of the respondent, stating that the order passed under Section 154 of the Income Tax Act was not valid. The court emphasized that Section 154 is meant to rectify obvious mistakes, not errors requiring extensive reasoning. Since the original assessment order was thorough, the court found no justification for correction under Section 154. Consequently, the Tax Appeal was dismissed as no substantial question of law arose, affirming the Tribunal's decision. Case-Laws Income Tax Mon, 23 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365387