Jurisdictional facts in certificate-of-origin discrepancies can support customs show-cause proceedings, leaving factual explanations for departmental ...
Market value for captive electricity consumption follows industrial consumer tariffs, supporting profit computation for the power generation deduction...
Rectification is available for a mistake apparent from the record, and the record is not confined to the assessment order or intimation alone. A wrong entry in the return showing mutual fund units as acquired on or after 31.01.2018 could be corrected where supporting material in the assessee's record showed acquisition before that date. The authorities were not justified in refusing rectification merely because the correction would alter total income. The matter was restored for verification of the evidence and recomputation of long-term capital gains on the basis that the units were acquired prior to 31.01.2018.
Rectification is available for a mistake apparent from the record, and the record is not confined to the assessment order or intimation alone. A wrong entry in the return showing mutual fund units as acquired on or after 31.01.2018 could be corrected where supporting material in the assessee's record showed acquisition before that date. The authorities were not justified in refusing rectification merely because the correction would alter total income. The matter was restored for verification of the evidence and recomputation of long-term capital gains on the basis that the units were acquired prior to 31.01.2018.
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