https://www.taxtmi.com/caselaws?id=756003 The ITAT Mumbai dismissed the Revenue's appeal regarding rectification under section 154. The AO exceeded jurisdiction by disallowing brought forward unabsorbed depreciation while giving effect to CIT(A)'s order, as this issue had already attained finality with no such direction from CIT(A). The Tribunal held that AO cannot rectify orders under section 154 without a mistake apparent from record, and confirmed the CIT(A)'s order finding the AO's action beyond his authority. en-us Mon, 22 Jul 2024 00:00:00 +0530 Thu, 25 Jul 2024 08:05:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=756003 The ITAT Mumbai dismissed the Revenue's appeal regarding rectification under section 154. The AO exceeded jurisdiction by disallowing brought forward unabsorbed depreciation while giving effect to CIT(A)'s order, as this issue had already attained finality with no such direction from CIT(A). The Tribunal held that AO cannot rectify orders under section 154 without a mistake apparent from record, and confirmed the CIT(A)'s order finding the AO's action beyond his authority. Case-Laws Income Tax Mon, 22 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=756003