https://www.taxtmi.com/caselaws?id=460661 Rectification under section 254(2) was held warranted where the Tribunal had omitted to address the assessee's specific ground on allocation of interest on foreign currency borrowings, provision for contingencies and other common expenses while computing deduction under section 36(1)(viii). The omission was treated as an apparent mistake because the expense allocation had to be reworked between eligible and ineligible income in light of the findings on the character of the relevant income streams. The Tribunal substituted the earlier paragraph and directed the Assessing Officer to reallocate the expenses and verify the assessee's workings, with ground 2.4 partly allowed. en-us Wed, 24 Jul 2024 00:00:00 +0530 Sat, 08 Feb 2025 11:05:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460661 Rectification under section 254(2) was held warranted where the Tribunal had omitted to address the assessee's specific ground on allocation of interest on foreign currency borrowings, provision for contingencies and other common expenses while computing deduction under section 36(1)(viii). The omission was treated as an apparent mistake because the expense allocation had to be reworked between eligible and ineligible income in light of the findings on the character of the relevant income streams. The Tribunal substituted the earlier paragraph and directed the Assessing Officer to reallocate the expenses and verify the assessee's workings, with ground 2.4 partly allowed. Case-Laws Income Tax Wed, 24 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460661