1998 (9) TMI 52

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....tion is filed by the Revenue under section 256(2) of the Income-tax Act, 1961 (for short "the Act"). The facts in brief are as follows : The assessee-firm was engaged in the business of manufacture and supply of RCC spun pipes and PSC concrete pipes. The assessee also undertook the work of laying of RCC pipes and PSC concrete pipes. For the assessment years 1987-88 and 1988-89, the assessee ....

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....me-tax (Appeals) found that the judgment in N. C. Budharaja's case [1993] 204 ITR 412 (SC) is not applicable to the facts of the case. On further appeal to the Tribunal, the Tribunal held that the Income-tax Officer in exercise of the power under section 154 of the Act can only rectify the mistakes which are apparent from the record and he cannot go deep into the subject and upheld the order of th....