Section 154: Overlooking of mandatory provision of law in original assessment is rectifiable

Shiv Shakti Traders Vs ACIT (ITAT Delhi)

Overlooking the mandatory provision of law in the original assessment is apparent mistake of law which is rectifiable under section 154.

In the case before us it was brought to the notice of the Ld. AO by RAP that in the original assessment made by him, he overlooked the mandatory provision of section 40A(3) of the Act. Ld. AO, therefore, after giving opportunity to the assessee passed the rectificatory order making the impugned disallowance. Assumption of power by the Ld. AO under section

Please become a Premium member. If you are already a Premium member, login here to access the full content.