https://www.taxtmi.com/caselaws?id=14344 Failure to deduct borrowed money and liabilities from the gross value of assets while computing capital for section 80-I was held to be a rectifiable mistake once the Supreme Court's ruling in Lohia Machines Ltd. removed the earlier debate on the issue. The court held that, because the point was no longer debatable, section 154 could be invoked to correct the computation error. The question was answered in the negative, in favour of the Revenue and against the assessee. en-us Mon, 08 Jan 2001 00:00:00 +0530 Wed, 15 Jul 2009 13:02:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14344 Failure to deduct borrowed money and liabilities from the gross value of assets while computing capital for section 80-I was held to be a rectifiable mistake once the Supreme Court's ruling in Lohia Machines Ltd. removed the earlier debate on the issue. The court held that, because the point was no longer debatable, section 154 could be invoked to correct the computation error. The question was answered in the negative, in favour of the Revenue and against the assessee. Case-Laws Income Tax Mon, 08 Jan 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14344