https://www.taxtmi.com/caselaws?id=442101 The court held that the power of rectification exercised by the Tribunal was within the bounds of the law, as a palpable mistake had indeed occurred. While the first question regarding the jurisdictional purviews of rectification was decided against the Assessee, other substantial questions of law were decided in favor of the Assessee. Consequently, the court allowed the Assessee's appeal, setting aside the Tribunal's order and remanding the matter for reconsideration on the specified issue. The records were directed to be returned to the ITAT, and no costs were awarded in the matter. en-us Wed, 16 Aug 2023 00:00:00 +0530 Thu, 24 Aug 2023 08:09:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442101 The court held that the power of rectification exercised by the Tribunal was within the bounds of the law, as a palpable mistake had indeed occurred. While the first question regarding the jurisdictional purviews of rectification was decided against the Assessee, other substantial questions of law were decided in favor of the Assessee. Consequently, the court allowed the Assessee's appeal, setting aside the Tribunal's order and remanding the matter for reconsideration on the specified issue. The records were directed to be returned to the ITAT, and no costs were awarded in the matter. Case-Laws Income Tax Wed, 16 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442101