https://www.taxtmi.com/caselaws?id=33610 The High Court ruled in favor of the assessees, upholding the decisions of the Commissioner of Income-tax (Appeals) and the Tribunal regarding the limitation period for rectification under section 155 of the Income-tax Act. The court held that the period of limitation for rectification starts from the date of the original assessment of the firm and not from the date of the appellate order. The judgment emphasized strict interpretation of section 155 and adherence to statutory provisions for rectification of assessments in cases involving reduction or enhancement of income of a firm. en-us Tue, 14 Nov 2006 00:00:00 +0530 Sat, 30 May 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33610 The High Court ruled in favor of the assessees, upholding the decisions of the Commissioner of Income-tax (Appeals) and the Tribunal regarding the limitation period for rectification under section 155 of the Income-tax Act. The court held that the period of limitation for rectification starts from the date of the original assessment of the firm and not from the date of the appellate order. The judgment emphasized strict interpretation of section 155 and adherence to statutory provisions for rectification of assessments in cases involving reduction or enhancement of income of a firm. Case-Laws Income Tax Tue, 14 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33610