https://www.taxtmi.com/caselaws?id=49638 A retrospective amendment to the income-tax statute is treated as part of the law from its stated effective date, so an assessment order that was valid when made may later become inconsistent with the amended Act. That inconsistency can constitute a mistake apparent from the record for rectification purposes under the relevant provision, because the rectification power extends to patent mistakes of law. The article also notes that this rectification power operates independently of separate revisional powers. On that basis, rectification of the earlier credit and the resulting demand were upheld as lawful. en-us Mon, 28 Apr 1958 00:00:00 +0530 Fri, 05 Sep 2014 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49638 A retrospective amendment to the income-tax statute is treated as part of the law from its stated effective date, so an assessment order that was valid when made may later become inconsistent with the amended Act. That inconsistency can constitute a mistake apparent from the record for rectification purposes under the relevant provision, because the rectification power extends to patent mistakes of law. The article also notes that this rectification power operates independently of separate revisional powers. On that basis, rectification of the earlier credit and the resulting demand were upheld as lawful. Case-Laws Income Tax Mon, 28 Apr 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49638