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1 - 5 of 5 (0.31 seconds)Section 143 in The Income Tax Act, 1961 [Entire Act]
Section 260A in The Income Tax Act, 1961 [Entire Act]
Gujarat Poly-Avx Electronics Ltd. vs Deputy Commissioner Of Income Tax on 5 July, 1996
It is no doubt correct that an error apparent on the record can be corrected under Section 154 of the Act. However, if parallel proceedings are permitted it would only result in waste of time. It would serve no purpose. Thus, it is not surprising that judicial opinion is consistently against the Revenue. A Division Bench of the Gujarat High Court in Gujarat Poly-Avx Electronics Ltd. v. Deputy CIT (Asst.) [1996] 222 ITR 140 has taken a simitar view.
Commissioner Of Income Tax vs Punjab National Bank, Limited on 4 October, 1951
Later on even a Division Bench of the Delhi High Court has considered the matter in CIT v. Punjab National Sank [2001] 249 ITR 763. The Chief Justice Mr. Arijit Pasayat (as his Lordship then was) has been pleased to observe as under (page 773):
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