https://www.taxtmi.com/caselaws?id=764809 The Tribunal determined that the Assessing Officer's (A.O.) exercise of jurisdiction under Section 154 of the Income Tax Act, 1961, was invalid as the alleged mistake was not apparent and required further investigation, which is beyond the scope of Section 154. Additionally, the Tribunal found that the disallowance of expenses amounting to Rs. 2,06,50,000/- was unsustainable on merits, as the provision for expenses was based on an actual estimation of liability for the current financial year. Consequently, the Tribunal allowed the appeal and directed the A.O. to delete the disallowance. en-us Thu, 16 Jan 2025 00:00:00 +0530 Sat, 18 Jan 2025 08:47:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764809 The Tribunal determined that the Assessing Officer's (A.O.) exercise of jurisdiction under Section 154 of the Income Tax Act, 1961, was invalid as the alleged mistake was not apparent and required further investigation, which is beyond the scope of Section 154. Additionally, the Tribunal found that the disallowance of expenses amounting to Rs. 2,06,50,000/- was unsustainable on merits, as the provision for expenses was based on an actual estimation of liability for the current financial year. Consequently, the Tribunal allowed the appeal and directed the A.O. to delete the disallowance. Case-Laws Income Tax Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764809