https://www.taxtmi.com/caselaws?id=393394 The tribunal ruled in favor of the assessee, finding that the Assessing Officer exceeded jurisdiction under Section 154 of the Income Tax Act by withdrawing deductions under Section 54, disallowing costs, and charging interest under Section 234B. The tribunal emphasized that Section 154 is limited to rectifying apparent mistakes and does not allow for re-evaluation or review of earlier orders. As a result, the tribunal quashed the AO's order and reinstated the original assessment order in favor of the assessee. en-us Tue, 03 Mar 2020 00:00:00 +0530 Sat, 14 Mar 2020 13:20:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393394 The tribunal ruled in favor of the assessee, finding that the Assessing Officer exceeded jurisdiction under Section 154 of the Income Tax Act by withdrawing deductions under Section 54, disallowing costs, and charging interest under Section 234B. The tribunal emphasized that Section 154 is limited to rectifying apparent mistakes and does not allow for re-evaluation or review of earlier orders. As a result, the tribunal quashed the AO's order and reinstated the original assessment order in favor of the assessee. Case-Laws Income Tax Tue, 03 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393394