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2013 (11) TMI 420 - AT - Income TaxRectification u/s 154 of the Income Tax Act – Held that:- Once the income is from the tea grown by the assessee, as is the settled legal position in view of Rule 8 of the Income Tax Rules 1962, only 40% of the same can be taken as nonagricultural income - It is elementary that what can be rectified u/s.154 is a mistake which is glaring, unambiguous and incapable of two views being taken. Therefore, proceeding on the basis that income of Rs.29,42,802/- was trading income, for which no support is available from material on record, would not be possible under the inherently limited scope of section 154, even if that be so - Assessment was completed under section 143(3) and yet no material was brought on record to support such a finding - In this view of the matter, decided against the Revenue.
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