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2008 (9) TMI 589 - HC - Income TaxSet off and carry forward - Rectification of mistakes - There was no mistake apparent from the orders under section 143(1)(a)/143(3) warranting rectification of these orders and withdrawal of set-off of losses and depreciation pertaining to the earlier years allowed to the appellant through these orders - The very fact that the presumption of the appellant's business being closed was a debatable point, there was no mistake apparent from the records warranting rectification - he running of hotel was handed over by the court to the court receiver who was none but one of the directors of the company - The provisions of section 154 can be invoked only if there is a mistake either of a fact or law from the records - In this case, the first appellate authority/Commissioner of Income-tax (Appeals) and the Income-tax Appellate Tribunal have recorded concurrent findings of fact in respect of the issue as to whether the Assessing Officer was justified in invoking section 154 of the Act regarding rectification - Hence the appeals are dismissed
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