https://www.taxtmi.com/caselaws?id=447808 The Tribunal dismissed the Assessee's appeal, affirming the rejection of their application for gratuity amount exemption under section 10(10AA) of the Act. The Tribunal concurred with the AO and CIT(A) that the Assessee's rectification application under section 154 was time-barred and that a fresh claim should have been made through a revised return of income. The Tribunal found no apparent mistake in the record at the time of processing the return, rendering the rectification application invalid due to being filed beyond the prescribed period. en-us Wed, 03 Jan 2024 00:00:00 +0530 Fri, 05 Jan 2024 08:46:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447808 The Tribunal dismissed the Assessee's appeal, affirming the rejection of their application for gratuity amount exemption under section 10(10AA) of the Act. The Tribunal concurred with the AO and CIT(A) that the Assessee's rectification application under section 154 was time-barred and that a fresh claim should have been made through a revised return of income. The Tribunal found no apparent mistake in the record at the time of processing the return, rendering the rectification application invalid due to being filed beyond the prescribed period. Case-Laws Income Tax Wed, 03 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447808