Re: patent mistakes can be rectified by designated authority

which types of patent mistakes can be rectified by designated authority as discussed in question no 46 of circular no 9/2020. Can schedule D be rectified by designated authority.

Schedule D :reads as under :  In case the appellant opts not to pay tax on additions having effect of reducing loss/ depreciation  or MAT credit forward then relevant column   of the  following schedule to be filed up .

 

If there are mistakes the declarant can file revised form and rectify the same . Designated Authority has to verify whether figures are correct  as per the assessment records . If the figures are not in accordance with the records  will modify the figures . There is no bar that the Designated Authority cannot rectify the Schedule D .Power of rectification is similar to section 154 of the Income -tax Act , 1961 , only patent obvious mistakes can be rectified  . One may refer ratio of judgement of Supreme Court in  T.S. Balram , ITO v. Volkat Bros (1971 ) 82 ITR 50 (SC)  , the Court held that debatable point of law or inference cannot be subject matter of rectification .  

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