https://www.taxtmi.com/caselaws?id=798213 Rectification proceedings under section 154 can address a typographical error in reporting capital gains where co-owners each disclosed the full gain despite equal ownership. A mistaken variation in income under a particular head does not amount to a fresh claim requiring a revised return. An appellate authority may consider the correction in an appeal from a section 154 order and undertake verification to prevent taxation beyond the assessee's real income. Tax may be levied only in accordance with law under Article 265 of the Constitution; accordingly, taxability limited to the assessee's 50% share requires verification in accordance with law. en-us Mon, 31 Aug 2026 00:00:00 +0530 Thu, 03 Sep 2026 08:20:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798213 Rectification proceedings under section 154 can address a typographical error in reporting capital gains where co-owners each disclosed the full gain despite equal ownership. A mistaken variation in income under a particular head does not amount to a fresh claim requiring a revised return. An appellate authority may consider the correction in an appeal from a section 154 order and undertake verification to prevent taxation beyond the assessee's real income. Tax may be levied only in accordance with law under Article 265 of the Constitution; accordingly, taxability limited to the assessee's 50% share requires verification in accordance with law. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798213