https://www.taxtmi.com/caselaws?id=423426 The Tribunal upheld the decision of the ld. CIT(A) and dismissed the appeal filed by the assessee concerning the denial of exemption under section 11 of the Income Tax Act. The dispute arose from the treatment of corpus donation as income, with the Tribunal emphasizing that rectification under section 154 is only applicable for obvious mistakes, not debatable points of law. The Tribunal concluded that the rectification petition was debatable, leading to the dismissal of the appeal. en-us Wed, 01 Jun 2022 00:00:00 +0530 Tue, 07 Jun 2022 08:36:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423426 The Tribunal upheld the decision of the ld. CIT(A) and dismissed the appeal filed by the assessee concerning the denial of exemption under section 11 of the Income Tax Act. The dispute arose from the treatment of corpus donation as income, with the Tribunal emphasizing that rectification under section 154 is only applicable for obvious mistakes, not debatable points of law. The Tribunal concluded that the rectification petition was debatable, leading to the dismissal of the appeal. Case-Laws Income Tax Wed, 01 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423426