Read all Latest Updates on and about section 154 of the Income Tax Act

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Decision based on a Debatable point of View can’t be subject to Rectification: ITAT [Read Order]

Taxscan Team

The Income Tax Appellate Tribunal (ITAT), Mumbai bench has recently held that a decision based on a debatable point of view cannot be treated as a...

Applying Individual Tax Rates to AOP can’t be rectified by Invoking S. 154: ITAT [Read Order]

A Debatable Issue can’t be rectified u/s 154: ITAT [Read Order]

Assessment Order inconsistent with a Binding Precedent can be rectified by invoking S. 154: Calcutta...

HUF can’t be a Working Partner in Firm: ITAT upholds Rectification Order [Read Order]

Power to Rectification can’t be invoked to Levy Interest u/s 220: Kerala HC [Read Judgment]

A division bench of the Kerala High Court, in CIT v. Younus Kunju, held that the power to rectify errors under Section 154 of the Income Tax Act, 1961 cannot be invoked to levy interest under section...

Interest u/s 234B can be levied on failure to Pay Advance Tax in respect of AMT: ITAT [Read Order]

A bench comprising Vijay Pal Rao (JM) and Vikram Singh Yadav (AM) of Income Tax Appellate Tribunal (ITAT) recently declared that Interest u/s 234B of the Income Tax Act can be levied on ground of...

Interest u/s 234A cannot be levied in the absence of any direction in Original Assessment Order: ITAT [Read Order]

In ITO v. M/s. Heritage Project, the Amritsar bench of the Income Tax Appellate Tribunal (ITAT) held that interest under Section 234A of Income Tax Act cannot be levied in the absence of any direction...

Notice is a Mandatory Requirement for Passing a Rectification Order: ITAT Delhi [Read Order]

In Aparna Ashram v. ADIT(E), the Delhi ITAT held that the Assessing Officer is bound to follow the natural justice principles for rectifying an order by invoking section 154 of the Income Tax Act,...

ITAT Mumbai allows Claim of TDS Credited on Unrealized Income [Read Order]

In Shri Rangji Realities Pvt Ltd v. ITO, the Single Member of the ITAT, Mumbai bench allowed the assesses claim towards TDS credited on unrealized income. Assessee, in the instant case, has offered...

Assessing Officer cannot dispute Computation u/s 115JB through Rectification: ITAT Chandigarh [Read Order]

The ITAT, Chandigarh, in the case of City Clinic Pvt Ltd v. ACIT, held that the Assessing Officer (AO) cannot dispute computation u/s 115JB through rectification under Section 154 of the Income Tax...

Non-Consideration of Binding Precedent is a Valid Ground for Rectification Application: ITAT Mumbai [Read Order]

The Income Tax Appellate Tribunal, Mumbai in a recent decision, held that ‘non-consideration of a binding precedent’ can be a valid ground for filing a rectification application under the provisions...

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