Rectification of mistake u/s 154 - the explanation of payments ...
Section 154 Rectification: Holiday Payments' Doubtfulness Not an Obvious Mistake, Can't Address Alleged Bad Faith in Explanations.
March 31, 2023
Case Laws Income Tax AT
Rectification of mistake u/s 154 - the explanation of payments on Holidays appears highly doubtful but however such inference cannot be taken in the realm of obvious mistake. Section 154 has no application to gauge the purported mala fides in explanation offered by the Assessee behind such transaction. - AT
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