Disallowance of claim in assessment order passed in year 1995 for Assessment Year 1992-93,on round claim crystallised only in year 1997.Pursuant to Court Order. Tribunal confirming rejection of\u00a0 rectification application on ground that claim not made in return of income and records of Assessment Year 1996-97\u00a0 not available was misconceived. On appeal the Court held that grounds of\u00a0 appeal before appellate authorities is\u00a0 not considered on merits. Court held that the object of\u00a0 Section 154 cannot be defeated by reason of\u00a0 mechanical and technical objections. Records of assessment included financials for years in question and books of\u00a0 account including ledgers. Accordingly the claim of assessee is allowed.\u00a0 (AY. 1998-99)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 154 : Rectification of mistake-Mistake apparent from the record-Surcharge-Application for rectification-Object of Section 154 cannot be defeated by reason of mechanical and technical objections-Records of assessment included financials for years in question and books of account including ledgers.[S. 43B, 260A] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-54973","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eiF","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=54973"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54973\/revisions"}],"predecessor-version":[{"id":54974,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54973\/revisions\/54974"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}