https://www.taxtmi.com/article/detailed?id=10932 Section 154 authorises income tax authorities to rectify "mistakes apparent from the record" by amending orders and intimations, with procedural safeguards where liability is increased; time limits apply. Section 155 lists specific subsequent events that are to be treated as such mistakes, setting distinct limitation periods measured from those events and enabling AOs to recompute income or amend assessments accordingly. The Finance Act amendment expanding treatment of surcharge and cess disallowance is noted as an instance permitting recomputation without reopening assessment. en-us Mon, 02 Jan 2023 12:13:08 +0530 Mon, 02 Jan 2023 12:43:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10932 Section 154 authorises income tax authorities to rectify "mistakes apparent from the record" by amending orders and intimations, with procedural safeguards where liability is increased; time limits apply. Section 155 lists specific subsequent events that are to be treated as such mistakes, setting distinct limitation periods measured from those events and enabling AOs to recompute income or amend assessments accordingly. The Finance Act amendment expanding treatment of surcharge and cess disallowance is noted as an instance permitting recomputation without reopening assessment. Articles Income Tax Mon, 02 Jan 2023 12:13:08 +0530 https://www.taxtmi.com/article/detailed?id=10932