https://www.taxtmi.com/caselaws?id=400653 The Tribunal dismissed the application for rectification under Section 254(2) of the Income Tax Act regarding a deduction claim under Section 54(1) of the Act. The Tribunal held that seeking rectification is for correcting apparent mistakes, not challenging decisions based on dissatisfaction. The application was dismissed as it lacked substance or merit, emphasizing that disagreement with the decision does not qualify as a mistake apparent on the face of the record. The Tribunal advised the assessee to pursue appeal remedies if unsatisfied, ultimately upholding the original decision. en-us Wed, 14 Oct 2020 00:00:00 +0530 Thu, 12 Nov 2020 12:29:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400653 The Tribunal dismissed the application for rectification under Section 254(2) of the Income Tax Act regarding a deduction claim under Section 54(1) of the Act. The Tribunal held that seeking rectification is for correcting apparent mistakes, not challenging decisions based on dissatisfaction. The application was dismissed as it lacked substance or merit, emphasizing that disagreement with the decision does not qualify as a mistake apparent on the face of the record. The Tribunal advised the assessee to pursue appeal remedies if unsatisfied, ultimately upholding the original decision. Case-Laws Income Tax Wed, 14 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400653