https://www.taxtmi.com/caselaws?id=441529 The Tribunal allowed the appeal by the assessee against the rectification order, setting aside the decision of the Commissioner of Income Tax (Appeals). The Tribunal held that re-characterizing the interest income as income from other sources instead of business income was not a clear mistake apparent from the record, as it required detailed examination and allowed for differing opinions. The rectification order was deemed beyond the scope of a clear mistake, and the grounds raised by the assessee were accepted. en-us Tue, 08 Aug 2023 00:00:00 +0530 Thu, 10 Aug 2023 07:58:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441529 The Tribunal allowed the appeal by the assessee against the rectification order, setting aside the decision of the Commissioner of Income Tax (Appeals). The Tribunal held that re-characterizing the interest income as income from other sources instead of business income was not a clear mistake apparent from the record, as it required detailed examination and allowed for differing opinions. The rectification order was deemed beyond the scope of a clear mistake, and the grounds raised by the assessee were accepted. Case-Laws Income Tax Tue, 08 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441529