https://www.taxtmi.com/caselaws?id=39544 The court ruled in favor of rectifying a tax calculation error for a petitioner-company related to the assessment year 1966-67 under the Income-tax Act, 1961. The mistake arose from misinterpreting Section 85A, resulting in an incorrect tax liability. The court emphasized that the mistake was rectifiable under Section 154 as it was apparent and not subject to differing interpretations. The judgment highlighted the importance of interpreting legislative intent based on statutory language, ultimately allowing the appeal and dismissing the application under Article 226 of the Constitution, with no order as to costs. en-us Thu, 21 Feb 1974 00:00:00 +0530 Sat, 17 Apr 2010 11:59:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39544 The court ruled in favor of rectifying a tax calculation error for a petitioner-company related to the assessment year 1966-67 under the Income-tax Act, 1961. The mistake arose from misinterpreting Section 85A, resulting in an incorrect tax liability. The court emphasized that the mistake was rectifiable under Section 154 as it was apparent and not subject to differing interpretations. The judgment highlighted the importance of interpreting legislative intent based on statutory language, ultimately allowing the appeal and dismissing the application under Article 226 of the Constitution, with no order as to costs. Case-Laws Income Tax Thu, 21 Feb 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39544