Fair-rent assessment requires consideration of lease terms, valuation principles and prevailing market rent; the certificate was quashed for fresh rev...
Document Identification Number compliance is satisfied when electronically communicated orders are promptly authenticated through a correctly identifi...
Industrial shrimp-feed machinery classification follows its commercial function, placing integrated production plants under the specific industrial fo...
Rectification of mistake apparent on record is confined to obvious, patent errors and cannot be used to reappreciate evidence or revisit a debatable legal issue, because that would amount to an impermissible review. Applying that principle, the Tribunal noted that the revenue's objection required fresh examination of the assessee's transactions involving agreements for sale, acquisition and relinquishment of rights in immovable property, and the character of the consideration received. As no obvious error on the face of the record was shown, the rectification application was dismissed.
Rectification of mistake apparent on record is confined to obvious, patent errors and cannot be used to reappreciate evidence or revisit a debatable legal issue, because that would amount to an impermissible review. Applying that principle, the Tribunal noted that the revenue's objection required fresh examination of the assessee's transactions involving agreements for sale, acquisition and relinquishment of rights in immovable property, and the character of the consideration received. As no obvious error on the face of the record was shown, the rectification application was dismissed.
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