https://www.taxtmi.com/caselaws?id=422918 The ITAT ruled in favor of the assessee, quashing the rectification order under section 154 of the Income Tax Act. The tribunal found no apparent mistake in the assessment order justifying the rectification proceedings initiated based on objections raised by the LAP Audit. Emphasizing the importance of factual accuracy over presumptions, the ITAT concluded that the rectification order was unjustified in law. As a result, the order upholding the rectification was set aside, and the assessee's appeal was allowed. en-us Tue, 24 May 2022 00:00:00 +0530 Wed, 25 May 2022 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422918 The ITAT ruled in favor of the assessee, quashing the rectification order under section 154 of the Income Tax Act. The tribunal found no apparent mistake in the assessment order justifying the rectification proceedings initiated based on objections raised by the LAP Audit. Emphasizing the importance of factual accuracy over presumptions, the ITAT concluded that the rectification order was unjustified in law. As a result, the order upholding the rectification was set aside, and the assessee's appeal was allowed. Case-Laws Income Tax Tue, 24 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422918