https://www.taxtmi.com/caselaws?id=798752 Rectification under section 154 is confined to an obvious, patent error apparent from the record and cannot resolve matters requiring substantive evidence or extended inquiry. The relevant record may include connected assessment records of the taxpayer; therefore, an addition of share capital and securities premium in an incorrect assessment year may warrant fresh determination after verification of supporting material and coordinated consideration with the original assessment proceedings. Conversely, an addition for share application money received in the relevant year, where identity, source and genuineness require evidentiary appraisal, falls outside rectification. The former claim requires fresh adjudication, while the latter remains unrectifiable under section 154. en-us Tue, 08 Sep 2026 00:00:00 +0530 Fri, 11 Sep 2026 08:13:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798752 Rectification under section 154 is confined to an obvious, patent error apparent from the record and cannot resolve matters requiring substantive evidence or extended inquiry. The relevant record may include connected assessment records of the taxpayer; therefore, an addition of share capital and securities premium in an incorrect assessment year may warrant fresh determination after verification of supporting material and coordinated consideration with the original assessment proceedings. Conversely, an addition for share application money received in the relevant year, where identity, source and genuineness require evidentiary appraisal, falls outside rectification. The former claim requires fresh adjudication, while the latter remains unrectifiable under section 154. Case-Laws Income Tax Tue, 08 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798752