https://www.taxtmi.com/caselaws?id=308976 The High Court of Calcutta dismissed the appeal challenging the Income-tax Appellate Tribunal's decision allowing deduction under Section 80IB of the Income-tax Act, 1961. The Court held that the Assessing Officer's decision under Section 154 lacked material to establish a mistake apparent on the face of the record. It emphasized the importance of compliance verification in the initial assessment year and ruled that Section 154 could not be used to further scrutinize non-compliance with Section 80IB(2)(iv). The appeal was dismissed, highlighting the limitations of rectification under Section 154 in tax matters. en-us Wed, 25 Oct 2017 00:00:00 +0530 Thu, 03 Aug 2023 21:14:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308976 The High Court of Calcutta dismissed the appeal challenging the Income-tax Appellate Tribunal's decision allowing deduction under Section 80IB of the Income-tax Act, 1961. The Court held that the Assessing Officer's decision under Section 154 lacked material to establish a mistake apparent on the face of the record. It emphasized the importance of compliance verification in the initial assessment year and ruled that Section 154 could not be used to further scrutinize non-compliance with Section 80IB(2)(iv). The appeal was dismissed, highlighting the limitations of rectification under Section 154 in tax matters. Case-Laws Income Tax Wed, 25 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308976