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2023 (4) TMI 485 - AT - Income TaxRectification petition u/s 154 seeking to annul the addition made during the course of sec.143(3) - HELD THAT:- We hardly see any merit in assessee’s instant arguments vis-à-vis applicability of sec.154 rectification proceedings in principle. Hon’ble apex court’s landmark decision in TS Balram, ITO vs. Volkart Bros. [1971 (8) TMI 3 - SUPREME COURT] has settled the law long back that sec.154 rectification proceedings are not meant to enter in roving inquiries in the case records. We uphold the learned lower authorities identical action rejecting the assessee’s impugned sec.154 rectification with a rider that the taxpayer herein shall be very much at liberty to take recourse to regular appeal proceedings and the corresponding delay would stand condoned as he has been pursuing the instant sec.154 remedy based on an erroneous belief. Assessee appeal dismissed.
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