https://www.taxtmi.com/caselaws?id=377336 The High Court of Bombay dismissed the Revenue's appeals regarding the Assessment Year 2008-09, affirming the Tribunal's decision. The court held that the Assessing Officer's modification of the original assessment order under Section 154 of the Income Tax Act exceeded the scope of rectification. Emphasizing that rectification is limited to correcting apparent errors on record and not for substantive reevaluation, the court ruled in favor of the assessee. The judgment highlighted the statutory constraints of rectification powers, preventing extensive reassessment through rectification procedures. en-us Mon, 11 Feb 2019 00:00:00 +0530 Wed, 27 Mar 2019 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377336 The High Court of Bombay dismissed the Revenue's appeals regarding the Assessment Year 2008-09, affirming the Tribunal's decision. The court held that the Assessing Officer's modification of the original assessment order under Section 154 of the Income Tax Act exceeded the scope of rectification. Emphasizing that rectification is limited to correcting apparent errors on record and not for substantive reevaluation, the court ruled in favor of the assessee. The judgment highlighted the statutory constraints of rectification powers, preventing extensive reassessment through rectification procedures. Case-Laws Income Tax Mon, 11 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377336