Rectification u/s 154 - Addition u/s 54 - sale of property - ...

Audit Observations Not Mistakes u/s 154; Revenue Can't Use Section 154 for Audit Objections in Property Sale Case.

November 10, 2022

Case Laws Income Tax AT

Rectification u/s 154 - Addition u/s 54 - sale of property - Merely there is an observation of the revenue audit party it is not a mistake apparent on record. - There exist no mistake which is apparent on record. The law duly empowers the revenue to invoke other provision to consider the audit objection but the same is not permitted under the provision of section 154 of the Act as it done by the AO. - AT

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Rectification u/s 154 - Addition u/s 54 - sale of property - ...

Audit Observations Not Mistakes u/s 154; Revenue Can't Use Section 154 for Audit Objections in Property Sale Case.

November 10, 2022

Case Laws Income Tax AT

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