https://www.taxtmi.com/caselaws?id=764696 The ITAT Delhi denied rectification u/s 154 where the assessee challenged application of 30% tax rate instead of 25% for income below Rs. 50 crores turnover. The tribunal held that the assessee erroneously filed rectification proceedings instead of a regular appeal before CIT(A) against the u/s 143(1) processing. While acknowledging the assessee's case had merit and that tax cannot be imposed on legally non-assessable income, the tribunal declined to adjudicate on merits due to the wrong remedy chosen. The appeal was allowed for statistical purposes only, with the matter restored to the AO for fresh examination and verification of the assessee's claim. en-us Wed, 08 Jan 2025 00:00:00 +0530 Tue, 14 Jan 2025 10:54:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764696 The ITAT Delhi denied rectification u/s 154 where the assessee challenged application of 30% tax rate instead of 25% for income below Rs. 50 crores turnover. The tribunal held that the assessee erroneously filed rectification proceedings instead of a regular appeal before CIT(A) against the u/s 143(1) processing. While acknowledging the assessee's case had merit and that tax cannot be imposed on legally non-assessable income, the tribunal declined to adjudicate on merits due to the wrong remedy chosen. The appeal was allowed for statistical purposes only, with the matter restored to the AO for fresh examination and verification of the assessee's claim. Case-Laws Income Tax Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764696