Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
ITAT Chennai grants assessee's plea for rectification, recalls order on assessment reopening issue. The Appellate Tribunal ITAT Chennai allowed the Miscellaneous Petition filed by the assessee for rectification of a mistake apparent on record in the ...
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
ITAT Chennai grants assessee's plea for rectification, recalls order on assessment reopening issue.
The Appellate Tribunal ITAT Chennai allowed the Miscellaneous Petition filed by the assessee for rectification of a mistake apparent on record in the Tribunal's order. The Tribunal recalled the order to address the legal issue concerning the reopening of assessment under Section 147 of the Income Tax Act, providing the assessee with a fair opportunity to present arguments on this matter. The order was pronounced on 07th August 2017 in Chennai.
Issues: 1. Rectification of mistake apparent on record regarding reopening of assessment U/s.147 of the Act.
Analysis: The judgment by the Appellate Tribunal ITAT Chennai, delivered by Accountant Member A. Mohan Alankamony, pertains to a Miscellaneous Petition filed by the assessee seeking rectification of a mistake apparent on record in the Tribunal's order dated 01.08.2016 in I.T.A. No.711/Mds/2016. The assessee contended that the Tribunal did not address the legal issue concerning the reopening of assessment under Section 147 of the Income Tax Act. The assessee requested the order to be recalled to consider this specific ground, which was objected to by the Departmental Representative. After hearing both parties, the Tribunal noted that although the assessee had raised the issue of reopening in the grounds of appeal, it was not argued during the hearing. In the interest of justice, the Tribunal decided to recall the order to provide a fair opportunity for the assessee to present arguments on the reopening of assessment under Section 147. The Tribunal directed the Registry to schedule a new hearing and inform both parties accordingly.
In conclusion, the Miscellaneous Petition filed by the assessee was allowed by the Tribunal for the limited purpose of adjudicating the ground related to the reopening of assessment under Section 147 of the Income Tax Act. The order was pronounced on 07th August 2017 in Chennai.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI Drafter - (New and Powerful) ✕
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
of 
TaxTMI 
