https://www.taxtmi.com/highlights?id=69228 Rectification of mistake u/s 154 - the income tax proceeding are not adversarial it is not material as to who committed the mistake, the fact that a mistake has been committed and the same has to be rectified. - Thus as the interest awarded under Land Acquisition Act is not taxable as held by the Hon'ble Supreme Court, the department cannot demand to pay the tax on the same by way of invoking section 263 - AT en-us Fri, 14 Apr 2023 16:29:06 +0530 Fri, 14 Apr 2023 16:29:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=69228 Rectification of mistake u/s 154 - the income tax proceeding are not adversarial it is not material as to who committed the mistake, the fact that a mistake has been committed and the same has to be rectified. - Thus as the interest awarded under Land Acquisition Act is not taxable as held by the Hon'ble Supreme Court, the department cannot demand to pay the tax on the same by way of invoking section 263 - AT Highlights Income Tax Fri, 14 Apr 2023 16:29:06 +0530 https://www.taxtmi.com/highlights?id=69228