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[2009] 311 ITR 170 (MAD.) HIGH COURT OF MADRAS Commissioner of Income-tax v. A.G. Granites (P.) Ltd. K. RAVIRAJA PANDIAN AND P.P.S. JANARTHANA RAJA, JJ. TAX CASE APPEAL NO. 946 OF 2007 JULY 16, 2007 Section 154 of the Income-tax Act, 1961 - Rectification of Mistakes - Apparent from Records Interest income offered by assessee under one head could not be reassessed under another head by way of rectification and on basis of objection raised by audit members, as it is debatable issue [Assessment year 2002-03] [In favour of assessee] CIT v. A.G. Granites (P.) Ltd. [2009] 311 ITR 170 (Mad.) An error, which is not self-evident, and has to be detected by a process of reasoning, can hardly be said to be an error apparent on the face of the record. There is a clear distinction between an erroneous order and an error apparent on the face of the record. While the first could be corrected by the higher forum, the latter only could be corrected by exercise of power of rectification. Interest income offered by the assessee under one head could not be reassessed under another head by way of rectification and on the basis of the objection raised by the audit members as it is debatable issue there being two opinions about the head of income under which the interest income has to be assessed, one by the assessee and the other by the revenue. T. Ravi Kumar for the Appellant. JUDGMENT K. Raviraja Pandian, J. - The appeal is filed raising the following substantial questions of law : "1. Whether, on the facts and in the circumstances of the case, the Income-tax Tribunal is right in holding that the deduction under section 10B as well as under section 80HHC could not be rectified under section 154 ? 2. Whether, on the facts and in the circumstances of the case, the Income-tax Tribunal is right in holding that the rectification order under section 154 was not proper especially when the audit had raised an objection that the interest income of Rs. 2,14,457 was to be brought to tax under the head 'Income from other sources' ? 3. Whether, on the facts and in the circumstances of the case, the Income-tax Tribunal is right in not considering the of the Supreme Court in the case of Pandian…

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