https://www.taxtmi.com/caselaws?id=29268 The court held that relief under section 80J for the assessment year 1967-68, not claimed initially, could be allowed as a mistake under section 154 for the assessment year 1970-71. The court emphasized the absolute right of the assessee to claim such relief, regardless of the ITO's computation. Additionally, it was determined that the right to claim deduction under section 80J arose in the assessment year 1970-71 when profits were first earned, not in 1967-68. The court concluded that the mistake was apparent on the record, and the relief should have been granted. en-us Mon, 04 Feb 1980 00:00:00 +0530 Thu, 11 Mar 2010 17:27:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29268 The court held that relief under section 80J for the assessment year 1967-68, not claimed initially, could be allowed as a mistake under section 154 for the assessment year 1970-71. The court emphasized the absolute right of the assessee to claim such relief, regardless of the ITO's computation. Additionally, it was determined that the right to claim deduction under section 80J arose in the assessment year 1970-71 when profits were first earned, not in 1967-68. The court concluded that the mistake was apparent on the record, and the relief should have been granted. Case-Laws Income Tax Mon, 04 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29268