M.K. Venkatachalam, Income Tax Officer & Anr. vs Bombay Dyeing & Manufacturing Co. Ltd.

Authority: Supreme Court Date: 1958-04-28 AY: 1952-53 Section: 214, 154, 154(1), 2(40) Acts: Income Tax Act 1922, Indian Income Tax (Amendment) Act 1953, Constitution of India Result: Revenue Citation: (1958) 34 ITR 143 (SC) Justices: Venkatarama Aiyar, Gajendragadkar and Sarkar, JJ. Appeal No: Civil Appeal No. 122 of 1956
Whether an order which was proper and valid when made can be said to disclose a mistake apparent from the record when it becomes erroneous due to a subsequent retrospective amendment --- Held Yes. Whether the Income Tax Officer was justified in exercising rectification power under Section 35 of the Income Tax Act to correct credit for advance tax interest after retrospective amendment to Section 18A(5) --- Held Yes.

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