https://www.taxtmi.com/caselaws?id=436449 The Tribunal dismissed the revenue's appeal against the rectification order issued under section 154, upholding the CIT(A)'s decision. It found that the Assessing Officer's rectification lacked a basis for claiming a mistake apparent from the record and emphasized the limited scope of rectification to correct factual or legal errors. The Tribunal concluded that the AO's action to enhance book profits through the section 154 order was untenable, aligning with legal principles and precedents, ultimately emphasizing adherence to legal principles under the Income-tax Act, 1961. en-us Tue, 11 Apr 2023 00:00:00 +0530 Thu, 13 Apr 2023 07:59:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436449 The Tribunal dismissed the revenue's appeal against the rectification order issued under section 154, upholding the CIT(A)'s decision. It found that the Assessing Officer's rectification lacked a basis for claiming a mistake apparent from the record and emphasized the limited scope of rectification to correct factual or legal errors. The Tribunal concluded that the AO's action to enhance book profits through the section 154 order was untenable, aligning with legal principles and precedents, ultimately emphasizing adherence to legal principles under the Income-tax Act, 1961. Case-Laws Income Tax Tue, 11 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436449