https://www.taxtmi.com/caselaws?id=38273 Rectification jurisdiction under section 154 cannot be used to revisit an assessment where the original allowance of development rebate rested on a debatable view of whether the reserve requirement was satisfied. Because the alleged defect in the balance-sheet and the admissibility of rebate involved more than one possible view, there was no manifest mistake apparent from the record. A successor Income-tax Officer could not invoke section 154 merely because he disagreed with the earlier assessment. The officer had no jurisdiction to act under section 154, and the issue was decided in favour of the assessee. en-us Thu, 03 Nov 1977 00:00:00 +0530 Mon, 05 Apr 2010 12:41:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38273 Rectification jurisdiction under section 154 cannot be used to revisit an assessment where the original allowance of development rebate rested on a debatable view of whether the reserve requirement was satisfied. Because the alleged defect in the balance-sheet and the admissibility of rebate involved more than one possible view, there was no manifest mistake apparent from the record. A successor Income-tax Officer could not invoke section 154 merely because he disagreed with the earlier assessment. The officer had no jurisdiction to act under section 154, and the issue was decided in favour of the assessee. Case-Laws Income Tax Thu, 03 Nov 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38273