https://www.taxtmi.com/caselaws?id=786475 Whether the assessing officer completing assessment after search should adopt the returned income as rectified earlier by a rectification order was decided by ITAT Ahmedabad. The Tribunal found that unabsorbed depreciation and brought forward business losses had crystallized by the earlier rectification and appellate orders, no incriminating additions arose from the search-based proceedings, and the discrepancy in the return was a mistake apparent on the record. Accordingly the Tribunal ordered rectification of the return in the search assessment to reflect the earlier rectified income and allowed set-off of the unabsorbed depreciation and brought forward business losses. en-us Wed, 07 Jan 2026 00:00:00 +0530 Fri, 13 Feb 2026 09:18:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786475 Whether the assessing officer completing assessment after search should adopt the returned income as rectified earlier by a rectification order was decided by ITAT Ahmedabad. The Tribunal found that unabsorbed depreciation and brought forward business losses had crystallized by the earlier rectification and appellate orders, no incriminating additions arose from the search-based proceedings, and the discrepancy in the return was a mistake apparent on the record. Accordingly the Tribunal ordered rectification of the return in the search assessment to reflect the earlier rectified income and allowed set-off of the unabsorbed depreciation and brought forward business losses. Case-Laws Income Tax Wed, 07 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786475