2021 (12) TMI 1034

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....ndent : A Ravi Babusc for TSRTC ORDER: 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 or....

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.... supply of power' under the heading 'nature of company 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 con....

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....ave considered the rectification petition filed by the 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 co....