https://www.taxtmi.com/highlights?id=76668 Rectification u/s 154 - disallowance of carrying forward of the loss - The High Court examined the contentions of both parties and found merit in the petitioner's argument regarding the violation of Section 154(3) of the Act. It emphasized that any rectification adversely affecting the assessee's interests must be preceded by a notice and an opportunity to be heard. Since such compliance was lacking in the impugned order, the Court deemed it unsustainable and set it aside. en-us Wed, 17 Apr 2024 12:47:22 +0530 Wed, 17 Apr 2024 12:47:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=76668 Rectification u/s 154 - disallowance of carrying forward of the loss - The High Court examined the contentions of both parties and found merit in the petitioner's argument regarding the violation of Section 154(3) of the Act. It emphasized that any rectification adversely affecting the assessee's interests must be preceded by a notice and an opportunity to be heard. Since such compliance was lacking in the impugned order, the Court deemed it unsustainable and set it aside. Highlights Income Tax Wed, 17 Apr 2024 12:47:22 +0530 https://www.taxtmi.com/highlights?id=76668