Flat sale "on-money" cash receipts and applying 60% tax u/s115BBE via s.154 rectification struck down after addition deleted.

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....Whether rectification under s.154 could sustain levy of tax at 60% under s.115BBE on alleged cash "on-money" from flat sales was examined in light of the appellate deletion of the underlying addition. Since the addition of the impugned sum had already been deleted by a coordinate bench in the quantum proceedings and there was no material showing that such deletion had been reversed or stayed, there was no subsisting income on which the enhanced rate could be applied through rectification. Accordingly, setting aside the s.154 rectification and allowing the taxpayer's appeal was upheld. - ITAT....