https://www.taxtmi.com/caselaws?id=794917 Rectification cannot be used to make an additional disallowance for expenditure relating to exempt income where the taxpayer has already made a supported suo motu disallowance in the return. The computation, based on average investment balances, formed part of the record and its factual correctness was not disputed. In the absence of material establishing a further adjustment, the proposed disallowance reflected a failure to consider existing record material rather than a mistake apparent from the record. The additional disallowance was therefore not justified and was deleted. en-us Thu, 09 Jul 2026 00:00:00 +0530 Tue, 14 Jul 2026 08:26:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794917 Rectification cannot be used to make an additional disallowance for expenditure relating to exempt income where the taxpayer has already made a supported suo motu disallowance in the return. The computation, based on average investment balances, formed part of the record and its factual correctness was not disputed. In the absence of material establishing a further adjustment, the proposed disallowance reflected a failure to consider existing record material rather than a mistake apparent from the record. The additional disallowance was therefore not justified and was deleted. Case-Laws Income Tax Thu, 09 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794917