https://www.taxtmi.com/caselaws?id=428374 The Tribunal held that the rectificatory order passed under Section 154 of the Income Tax Act to levy tax under Section 115BBE was incorrect. The addition of Rs. 4,28,85,414 was not initially made under Sections 69 or 69A, rendering the invocation of Section 115BBE in the rectification order impermissible. The Tribunal found the issue to be debatable and not a prima facie mistake apparent from the record, leading to the allowance of the assessee's appeal and setting aside of the rectification order. en-us Mon, 26 Sep 2022 00:00:00 +0530 Thu, 29 Sep 2022 09:42:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428374 The Tribunal held that the rectificatory order passed under Section 154 of the Income Tax Act to levy tax under Section 115BBE was incorrect. The addition of Rs. 4,28,85,414 was not initially made under Sections 69 or 69A, rendering the invocation of Section 115BBE in the rectification order impermissible. The Tribunal found the issue to be debatable and not a prima facie mistake apparent from the record, leading to the allowance of the assessee's appeal and setting aside of the rectification order. Case-Laws Income Tax Mon, 26 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428374