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2009 (3) TMI 9 - HC - Income TaxRectification u/s 154 (2) (b) – ITO passed order adding profits u/r 3(6) but suo moto increasing liabilities u/s 3(4) - ITO was required to calculate the benefits grantable to assessee u/s 15-C of IT Act 1922 and this calculation was required to be done as per rule-3 of Indian Income Tax (Computation of Capital of Indistrial Undertakings) Rules 1949 - No distinction was made by ITO to categorise the debts into “debts due” and “debts owed” - held that mistake rectified was not mistake apparent
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