https://www.taxtmi.com/caselaws?id=418732 The Tribunal allowed the appeal, directing the Assessing Officer to rectify the mistake in the revised return of income under Sec. 154 of the Income-tax Act, 1961. The Tribunal found the error in the revised return, where an additional zero was added, to be apparent and supported the assessee's claim that the revised income figure was erroneously stated. Despite discrepancies in income figures, the tax liability remained consistent, leading to the conclusion that rectification was necessary. The Tribunal set aside the Assessing Officer's rejection of the rectification application, quashed the CIT (Appeals) decision, and favored the assessee in the overall outcome. en-us Mon, 21 Feb 2022 00:00:00 +0530 Wed, 23 Feb 2022 08:28:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418732 The Tribunal allowed the appeal, directing the Assessing Officer to rectify the mistake in the revised return of income under Sec. 154 of the Income-tax Act, 1961. The Tribunal found the error in the revised return, where an additional zero was added, to be apparent and supported the assessee's claim that the revised income figure was erroneously stated. Despite discrepancies in income figures, the tax liability remained consistent, leading to the conclusion that rectification was necessary. The Tribunal set aside the Assessing Officer's rejection of the rectification application, quashed the CIT (Appeals) decision, and favored the assessee in the overall outcome. Case-Laws Income Tax Mon, 21 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418732