Determination of correct income - Scope of rectification u/s 154 ...

Income Tax

November 8, 2023

Determination of correct income - Scope of rectification u/s 154 - reduction in the income - If the contention of the revenue has to be accepted then the provisions of section 154(5) of the Act would become otiose. In any case, it is well settled that the revenue cannot be unjustly enriched and in genuine cases, the assessed income could very well go below the returned income. - AT

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Determination of correct income - Scope of rectification u/s 154 ...

Income Tax

November 8, 2023

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