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2014 (5) TMI 449 - HC - Income TaxPower of rectification u/s 154 of the Act - Rejection of Securities Transaction Tax - Whether the Tribunal fell into error in rejecting the assessee’s claim for credit of Securities Transaction Tax (STT), proof of which was concededly attached to the return – Held that:- The power of rectification extends to amendment of intimation or deemed intimation under Section 143- This power enures even after the matter has been considered and decided in any proceeding by way of appeal or revision - this power extends even at the stage of the appeal and the further appeal to the ITAT - Even after such decision, it is open to the AO to amend the intimation u/s 143 (1) if the circumstances so warrant - Commissioner of Income Tax Versus Sam Global Securities Ltd. [2013 (9) TMI 876 - DELHI HIGH COURT] - the technicalities in the given circumstances of the case ought not to obscure the justice - The justice demands that there is no impediment to relief - That appears to have been overlooked in entirety by the lower authorities and the Tribunal had failed to notice that the controlling expression in Section 154 is not “an error” which is somewhat colored by the exercise of power by the authorities - instead, the controlling expression is “any mistake” which has wider connotation and includes mistakes committed by the parties also – Decided in favour of Assessee.
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