https://www.taxtmi.com/caselaws?id=423083 The tribunal allowed the appeal of the assessee, ruling in favor of the assessee on both issues. The tribunal held that the Assessing Officer's actions in increasing the assessed income for prior period expenses and provision for leave encashment outstanding were without jurisdiction. It emphasized the importance of adhering to legal precedents and stated that rectification under Section 154 can only be made for glaring mistakes of fact or law, not for debatable issues. The tribunal reversed the Assessing Officer's actions and restored the original position of the assessee for the assessment year in question. en-us Thu, 26 May 2022 00:00:00 +0530 Fri, 27 May 2022 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423083 The tribunal allowed the appeal of the assessee, ruling in favor of the assessee on both issues. The tribunal held that the Assessing Officer's actions in increasing the assessed income for prior period expenses and provision for leave encashment outstanding were without jurisdiction. It emphasized the importance of adhering to legal precedents and stated that rectification under Section 154 can only be made for glaring mistakes of fact or law, not for debatable issues. The tribunal reversed the Assessing Officer's actions and restored the original position of the assessee for the assessment year in question. Case-Laws Income Tax Thu, 26 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423083