https://www.taxtmi.com/caselaws?id=39540 The mistaken allowance of a deduction for a belated annuity deposit was treated as a mistake apparent from the record because the statutory preconditions for condonation had not been met. The discretion to condone delay under the annuity deposit scheme was not unfettered; it depended on compliance with the prescribed application procedure, prior approval of the Inspecting Assistant Commissioner, and a written order under the relevant scheme provisions. On the admitted facts, those requirements were absent, so the entry allowing the deduction could not be a lawful exercise of discretion. The rectification under section 154 was therefore upheld. en-us Tue, 26 Aug 1975 00:00:00 +0530 Sat, 17 Apr 2010 11:40:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39540 The mistaken allowance of a deduction for a belated annuity deposit was treated as a mistake apparent from the record because the statutory preconditions for condonation had not been met. The discretion to condone delay under the annuity deposit scheme was not unfettered; it depended on compliance with the prescribed application procedure, prior approval of the Inspecting Assistant Commissioner, and a written order under the relevant scheme provisions. On the admitted facts, those requirements were absent, so the entry allowing the deduction could not be a lawful exercise of discretion. The rectification under section 154 was therefore upheld. Case-Laws Income Tax Tue, 26 Aug 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39540