https://www.taxtmi.com/caselaws?id=382997 The Tribunal set aside the order of the Ld. CIT(A) and quashed the order of the Ld. AO under Section 154, as the treatment of profit from the sale of old machinery in the balance sheet for MAT computation was a debatable issue, not a clear mistake. The Tribunal emphasized the importance of providing a fair hearing before passing rectification orders under the Income Tax Act. The appeal was decided in favor of the assessee, leading to the dismissal of the Stay Application filed by the assessee. en-us Fri, 12 Jul 2019 00:00:00 +0530 Mon, 15 Jul 2019 07:18:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382997 The Tribunal set aside the order of the Ld. CIT(A) and quashed the order of the Ld. AO under Section 154, as the treatment of profit from the sale of old machinery in the balance sheet for MAT computation was a debatable issue, not a clear mistake. The Tribunal emphasized the importance of providing a fair hearing before passing rectification orders under the Income Tax Act. The appeal was decided in favor of the assessee, leading to the dismissal of the Stay Application filed by the assessee. Case-Laws Income Tax Fri, 12 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382997