2021 (12) TMI 1034

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....R: PER HON'BLE SRI JUSTICE UJJAL BHUYAN Heard Mr.C.V.Narasimham, learned counsel for the petitioner and Mr.L.Venkateswara Rao, learned Standing Counsel for the Income Tax Department for respondents 1 and 2. 2. By filing this petition under Article 226 of the Constitution of India, petitioner has assailed the legality and validity of the assessment order dated 17.03.2021 passed by the National e....

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....any and its business' instead of Code No.05001 and business as 'production, collection and distribution of electricity', by inadvertent mistake. That was intimated by Central Processing Centre (CPC), Bangalore on 01.11.2019. Thereafter, petitioner filed rectification petition under Section 154 of the Act on 17.01.2020 for changing the code and consequently to consider the depreciation claim. 6. W....

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....petitioner under Section 154 of the Act before finalizing the assessment. Failure to do so has caused serious prejudice to the petitioner, as it has led to assessment of income on much higher side without taking into account the inadvertent mistake in entering the code number, which was sought to be rectified by the petitioner. 8. In the counter affidavit filed by respondent Nos.1 and 2, it is st....