2009 (4) TMI 421 - HC - Income Tax

Rectification of Mistake - A decision contrary to law can be rectified u/s 154 of the Act. The law declared by the apex court is binding on every court and authority.

Summary

The Allahabad High Court dismissed the appeal stating that a decision contrary to law can be rectified under section 154 of the Income-tax Act, 1961, based on the case of CIT v. Steller Investment Ltd. [2001] 251 ITR 263 (SC).