https://www.taxtmi.com/caselaws?id=395482 The court upheld the Assessing Officer's invocation of Section 154 to rectify errors in the calculation of deductions under Section 80-HH for a specific assessment year. The court deemed the rectification valid as the issue was not previously addressed in an appeal. Additionally, the court affirmed the reduction of unabsorbed brought forward losses from current year profits for computing deductions under Section 80-HH, based on a relevant Supreme Court decision. The judgment clarified the application of Section 154 and the treatment of losses for deductions under the Income Tax Act. en-us Wed, 15 Jan 2020 00:00:00 +0530 Sat, 23 May 2020 10:57:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395482 The court upheld the Assessing Officer's invocation of Section 154 to rectify errors in the calculation of deductions under Section 80-HH for a specific assessment year. The court deemed the rectification valid as the issue was not previously addressed in an appeal. Additionally, the court affirmed the reduction of unabsorbed brought forward losses from current year profits for computing deductions under Section 80-HH, based on a relevant Supreme Court decision. The judgment clarified the application of Section 154 and the treatment of losses for deductions under the Income Tax Act. Case-Laws Income Tax Wed, 15 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395482