https://www.taxtmi.com/caselaws?id=429986 The Tribunal allowed the appeal, setting aside the order dismissing the rectification application under section 154 of the Income Tax Act, 1961. The Tribunal emphasized the importance of rectifying admitted mistakes in orders and following legal precedents. It held that if an error is acknowledged, rectification is necessary, and refusal to rectify such mistakes goes against established legal principles. The decision underscored the significance of adhering to legal precedents and ensuring fairness in tax proceedings by rectifying errors when identified. en-us Fri, 07 Oct 2022 00:00:00 +0530 Wed, 09 Nov 2022 08:01:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429986 The Tribunal allowed the appeal, setting aside the order dismissing the rectification application under section 154 of the Income Tax Act, 1961. The Tribunal emphasized the importance of rectifying admitted mistakes in orders and following legal precedents. It held that if an error is acknowledged, rectification is necessary, and refusal to rectify such mistakes goes against established legal principles. The decision underscored the significance of adhering to legal precedents and ensuring fairness in tax proceedings by rectifying errors when identified. Case-Laws Income Tax Fri, 07 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429986