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Archive: 21 July 1970

Posts in 21 July 1970

AO mandatorily bound to exercise power U/s. 154

July 21, 1970 2655 Views 0 comment Print

Hirday Narain Vs. ITO (Supreme Court) Exercise of power to rectify an error apparent from the record is conferred upon the Income-tax Officer in aid of enforcement of a right. The Income-tax Officer is an officer concerned with assessment and collection of revenue, and the power to rectify the order of assessment conferred upon him to ensure that injustice to the assessee or to the Revenue may be avoided.

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