https://www.taxtmi.com/caselaws?id=49436 Rectification power is limited to correcting mistakes apparent from the record and does not extend to readjustments that merely perpetuate an initial substantive error; accordingly the attempted adjustment that carried forward the original erroneous treatment was beyond jurisdiction and could not be sustained. The entitlement to statutory grossing up and to credit for tax paid by the company belongs to the person in whose name the shares are registered; treating a different entity as the owner where registration shows otherwise was an error of law and did not confer those benefits. en-us Tue, 27 Feb 1962 00:00:00 +0530 Wed, 27 Aug 2014 12:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49436 Rectification power is limited to correcting mistakes apparent from the record and does not extend to readjustments that merely perpetuate an initial substantive error; accordingly the attempted adjustment that carried forward the original erroneous treatment was beyond jurisdiction and could not be sustained. The entitlement to statutory grossing up and to credit for tax paid by the company belongs to the person in whose name the shares are registered; treating a different entity as the owner where registration shows otherwise was an error of law and did not confer those benefits. Case-Laws Income Tax Tue, 27 Feb 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49436