https://www.taxtmi.com/caselaws?id=26998 An omission to claim an exemption earlier does not bar rectification where the entitlement is apparent from the record and the assessment has included income that is plainly exempt. The controlling test is whether the error is obvious from the existing materials, not whether the claim requires debatable interpretation or fresh inquiry. On that basis, warehousing income found to fall within the statutory exemption could be corrected in rectification proceedings, because taxing it amounted to assessment of income not liable to tax. The relief, however, was confined to the specific warehousing receipts identified as exempt. en-us Thu, 04 Apr 1985 00:00:00 +0530 Wed, 10 Feb 2010 10:33:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26998 An omission to claim an exemption earlier does not bar rectification where the entitlement is apparent from the record and the assessment has included income that is plainly exempt. The controlling test is whether the error is obvious from the existing materials, not whether the claim requires debatable interpretation or fresh inquiry. On that basis, warehousing income found to fall within the statutory exemption could be corrected in rectification proceedings, because taxing it amounted to assessment of income not liable to tax. The relief, however, was confined to the specific warehousing receipts identified as exempt. Case-Laws Income Tax Thu, 04 Apr 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26998