https://www.taxtmi.com/caselaws?id=450320 Rectification under Section 154 is limited to mistakes apparent from the record and cannot be used for a subjective reappraisal of business profitability or a comparison with other assessees that requires detailed enquiry. The appellate authority's reasoning did not unsettle the Assessing Officer's view that the claim fell outside the narrow scope of rectification. Reliance on Goetze (India) Ltd. was held inapposite because that decision did not concern rectification proceedings under Section 154. The rectification application was therefore not maintainable, and the Revenue's challenge succeeded. en-us Thu, 29 Feb 2024 00:00:00 +0530 Sat, 02 Mar 2024 07:24:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450320 Rectification under Section 154 is limited to mistakes apparent from the record and cannot be used for a subjective reappraisal of business profitability or a comparison with other assessees that requires detailed enquiry. The appellate authority's reasoning did not unsettle the Assessing Officer's view that the claim fell outside the narrow scope of rectification. Reliance on Goetze (India) Ltd. was held inapposite because that decision did not concern rectification proceedings under Section 154. The rectification application was therefore not maintainable, and the Revenue's challenge succeeded. Case-Laws Income Tax Thu, 29 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450320