https://www.taxtmi.com/caselaws?id=25407 The High Court held that the Income-tax Officer's attempt to withdraw excess interest under section 154 was erroneous as there was no clear mistake apparent from the record at the time of assessment. The court emphasized that the Officer lacked jurisdiction under section 154 and could not rectify the assessment based on a subsequent judgment. The court ruled in favor of the assessee, emphasizing the importance of timing and clarity in applying provisions of the Income-tax Act. en-us Thu, 23 Jul 1987 00:00:00 +0530 Thu, 28 Jan 2010 13:47:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25407 The High Court held that the Income-tax Officer's attempt to withdraw excess interest under section 154 was erroneous as there was no clear mistake apparent from the record at the time of assessment. The court emphasized that the Officer lacked jurisdiction under section 154 and could not rectify the assessment based on a subsequent judgment. The court ruled in favor of the assessee, emphasizing the importance of timing and clarity in applying provisions of the Income-tax Act. Case-Laws Income Tax Thu, 23 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25407