https://www.taxtmi.com/caselaws?id=23528 Rectification cannot be used where the alleged error depends on a debatable legal issue admitting more than one plausible view. Share capital issued for the transfer or use of goodwill and related business advantages could not be excluded from surtax capital through rectification because its treatment as a book asset was not self-evident. Likewise, capital could not be proportionately reduced by rectification in relation to section 80E relief, since the application of the surtax capital-adjustment rule to profits excluded from total income involved an arguable interpretation. The Revenue's proposed rectifications therefore failed, and the assessee succeeded on both issues. en-us Tue, 07 Mar 1989 00:00:00 +0530 Mon, 21 Dec 2009 15:40:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23528 Rectification cannot be used where the alleged error depends on a debatable legal issue admitting more than one plausible view. Share capital issued for the transfer or use of goodwill and related business advantages could not be excluded from surtax capital through rectification because its treatment as a book asset was not self-evident. Likewise, capital could not be proportionately reduced by rectification in relation to section 80E relief, since the application of the surtax capital-adjustment rule to profits excluded from total income involved an arguable interpretation. The Revenue's proposed rectifications therefore failed, and the assessee succeeded on both issues. Case-Laws Income Tax Tue, 07 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23528