https://www.taxtmi.com/caselaws?id=60268 The Tribunal upheld the ITO's rectification under sections 154 and 254 of the Income-tax Act, 1961, regarding the inclusion of the assessee's share of income from initially unregistered firms that later obtained registration. The Tribunal deemed the rectification valid, emphasizing that changes in the firms' status post-appellate order impacted partners' taxable income, justifying the rectification under section 154. The Tribunal highlighted the complexities of assessing firms, distinguishing between registered and unregistered firms in terms of tax implications for partners. The Tribunal dismissed the assessee's appeal, affirming the rectification within the specified time frame under section 155(1)(a). en-us Mon, 04 Jun 1984 00:00:00 +0530 Tue, 04 Jan 2011 14:48:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60268 The Tribunal upheld the ITO's rectification under sections 154 and 254 of the Income-tax Act, 1961, regarding the inclusion of the assessee's share of income from initially unregistered firms that later obtained registration. The Tribunal deemed the rectification valid, emphasizing that changes in the firms' status post-appellate order impacted partners' taxable income, justifying the rectification under section 154. The Tribunal highlighted the complexities of assessing firms, distinguishing between registered and unregistered firms in terms of tax implications for partners. The Tribunal dismissed the assessee's appeal, affirming the rectification within the specified time frame under section 155(1)(a). Case-Laws Income Tax Mon, 04 Jun 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60268