https://www.taxtmi.com/caselaws?id=36150 For special rebate under Paragraph F of Part I of the First Schedule to the Finance Act, 1965, the relevant profit figure was the net taxable profit after all admissible deductions and allowances, including development rebate, rather than gross commercial profit. The article also notes that the treatment of development rebate was the subject of genuine judicial controversy at the relevant time, with conflicting authorities on the point. Because an issue requiring investigation or resolution of debatable legal controversy cannot amount to a mistake apparent from the record, rectification under Section 154 of the Income-tax Act, 1961, was not available on this ground. en-us Thu, 16 Aug 1979 00:00:00 +0530 Fri, 19 Mar 2010 16:10:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36150 For special rebate under Paragraph F of Part I of the First Schedule to the Finance Act, 1965, the relevant profit figure was the net taxable profit after all admissible deductions and allowances, including development rebate, rather than gross commercial profit. The article also notes that the treatment of development rebate was the subject of genuine judicial controversy at the relevant time, with conflicting authorities on the point. Because an issue requiring investigation or resolution of debatable legal controversy cannot amount to a mistake apparent from the record, rectification under Section 154 of the Income-tax Act, 1961, was not available on this ground. Case-Laws Income Tax Thu, 16 Aug 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36150