While powers are vested with Assessing Officer to pass order rectifying assessment order under section 154 even if appellate or revisional proceedings are pending, it would also not preclude Appellate Commissioner to enhance tax liability in respect of issue which was subject matter of assessment. Therefore, where in assessment order claim for adjusting unabsorbed depreciation against income arising from capital gains was subject matter of assessment, Appellate Commissioner was justified in re-looking same irrespective of order passed under section 154 (AY. 2002-03)
Prime Urban Development India Ltd. v. ACIT (2025) 305 Taxman 58 (Mad)(HC)
S. 154 : Rectification of mistake-Mistake apparent from the record-Depreciation-Powers of appellate Authority-Merely because an appeal was filed before Appellate Authority or revision pending before Revisional Authority would not preclude Original Authority to rectify any mistake or error apparent from record under section 154 in respect of which either no order has been passed by Appellate/Revisional Authority or yet an order was to be passed.[S. 32, 250,251(ia),260A]
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