https://www.taxtmi.com/caselaws?id=470290 Interest earned from deposits with nationalised banks was not eligible for deduction under section 80P(2)(a)(i) where binding Supreme Court law required its exclusion. An assessment granting the deduction contrary to that law constituted a mistake apparent from the record and could be rectified under section 154. A contrary coordinate-bench view that had not considered the Supreme Court ruling was treated as per incuriam and non-binding. The rectification therefore validly withdrew the deduction. en-us Tue, 17 Oct 2023 00:00:00 +0530 Wed, 22 Jul 2026 16:06:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470290 Interest earned from deposits with nationalised banks was not eligible for deduction under section 80P(2)(a)(i) where binding Supreme Court law required its exclusion. An assessment granting the deduction contrary to that law constituted a mistake apparent from the record and could be rectified under section 154. A contrary coordinate-bench view that had not considered the Supreme Court ruling was treated as per incuriam and non-binding. The rectification therefore validly withdrew the deduction. Case-Laws Income Tax Tue, 17 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470290