https://www.taxtmi.com/caselaws?id=446594 The Tribunal dismissed the Revenue's appeal against the CIT(A)'s decision concerning the disallowance of prior period expenses under section 154 rectification proceedings of the Income Tax Act, 1961. The Tribunal upheld the CIT(A)'s reversal of the Assessing Officer's action, emphasizing that rectification under section 154 is meant for addressing apparent mistakes, not conducting detailed inquiries. The decision was pronounced in open court on 30.11.2023. en-us Thu, 30 Nov 2023 00:00:00 +0530 Thu, 07 Dec 2023 07:19:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446594 The Tribunal dismissed the Revenue's appeal against the CIT(A)'s decision concerning the disallowance of prior period expenses under section 154 rectification proceedings of the Income Tax Act, 1961. The Tribunal upheld the CIT(A)'s reversal of the Assessing Officer's action, emphasizing that rectification under section 154 is meant for addressing apparent mistakes, not conducting detailed inquiries. The decision was pronounced in open court on 30.11.2023. Case-Laws Income Tax Thu, 30 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446594