S. 154 Applying individual tax rates to AOP not a mistake apparent from records

M/s. Shreeya Welfare Trust Vs ITO (ITAT Hyderabad) Conclusion: Since assessee- AOP was a trust formed for the benefit of a sole beneficiary, therefore, applying individual tax rates to assessee-AOP was not a mistake apparent on the face of the record and therefore, it could not be rectified through Section 154. Held: Assessee- trust was formed for the benefit of a sole beneficiary. AO perused the record of assessee and observed that assessee was an AOP and was required to be charged u/s 167B, whereas, the individual tax rates were wrongly charged. Observing that this was a mistake apparent fr...