https://www.taxtmi.com/caselaws?id=22707 Section 155(3) of the Income-tax Act permits consequential amendment of an income-tax assessment where excess profits tax or business profits tax payable is modified in appeal, revision or any other proceeding, or is assessed after the income-tax assessment. The term "payable" is used in the sense of tax determined as due, not mere liability, so the provision can apply even where the tax ceases to be payable altogether. The phrase "any other proceeding" is broad enough to include writ proceedings, and rectification under section 154 may be used to give effect to that change in tax position. en-us Tue, 04 Dec 1990 00:00:00 +0530 Sat, 12 Dec 2009 14:13:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22707 Section 155(3) of the Income-tax Act permits consequential amendment of an income-tax assessment where excess profits tax or business profits tax payable is modified in appeal, revision or any other proceeding, or is assessed after the income-tax assessment. The term "payable" is used in the sense of tax determined as due, not mere liability, so the provision can apply even where the tax ceases to be payable altogether. The phrase "any other proceeding" is broad enough to include writ proceedings, and rectification under section 154 may be used to give effect to that change in tax position. Case-Laws Income Tax Tue, 04 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22707