https://www.taxtmi.com/caselaws?id=16907 The Income-tax Appellate Tribunal (ITAT) canceled the rectification order passed by the Income-tax Officer (ITO) under section 154 of the Income-tax Act, relating to deductions claimed by an exporting company. The court determined that the ITO's failure to apply a mandatory provision regarding deductions constituted a mistake apparent from the record, justifying rectification. Relying on precedent, the court ruled in favor of the Revenue, upholding the ITO's decision to rectify the assessment and withdraw the deductions, contrary to the Tribunal's cancellation. en-us Thu, 24 Jul 1997 00:00:00 +0530 Mon, 14 Sep 2009 10:17:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16907 The Income-tax Appellate Tribunal (ITAT) canceled the rectification order passed by the Income-tax Officer (ITO) under section 154 of the Income-tax Act, relating to deductions claimed by an exporting company. The court determined that the ITO's failure to apply a mandatory provision regarding deductions constituted a mistake apparent from the record, justifying rectification. Relying on precedent, the court ruled in favor of the Revenue, upholding the ITO's decision to rectify the assessment and withdraw the deductions, contrary to the Tribunal's cancellation. Case-Laws Income Tax Thu, 24 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16907