https://www.taxtmi.com/caselaws?id=37854 The High Court of Calcutta ruled in a case involving the interpretation of "regular assessment" under section 214 of the Income-tax Act, 1961, and the validity of a rectification order under section 154. The court held that there was no mistake apparent from the record justifying the rectification order, favoring the assessee. As a result, the court did not address the issue of interest under section 214. The judgment highlighted the need to adhere to original statutory provisions and avoid initiating section 154 proceedings based on retrospective amendments, ultimately deciding in favor of the assessee. en-us Wed, 12 Apr 1978 00:00:00 +0530 Thu, 01 Apr 2010 14:07:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37854 The High Court of Calcutta ruled in a case involving the interpretation of "regular assessment" under section 214 of the Income-tax Act, 1961, and the validity of a rectification order under section 154. The court held that there was no mistake apparent from the record justifying the rectification order, favoring the assessee. As a result, the court did not address the issue of interest under section 214. The judgment highlighted the need to adhere to original statutory provisions and avoid initiating section 154 proceedings based on retrospective amendments, ultimately deciding in favor of the assessee. Case-Laws Income Tax Wed, 12 Apr 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37854