Shanti Prime Publication Pvt. Ltd.
Sec. 154 of Income Tax Act, 1961— Rectification of Mistake— Assessing officer has not invoked the provisions of section 69 at first place while passing the assessment order u/s 143(3), therefore, the provisions of section 115BBE which are contingent on satisfaction of requirements of section 69 cannot be independently applied by invoking the provisions of section 154 - Assessing Officer is not justified in taxing surrendered stock u/s 115BBE where he has already accepted it under the head business income while passing the assessment order u/s 143(3), thus, the action of Assessing officer u/s 154 is not justified. - ASSTT. CIT V/s SUDESH KUMAR GUPTA - [2020] 206 TTJ 1019 (ITAT-JAIPUR)