Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Rectification u/s 254 - Penalty u/s 271(1)(c) was deleted - Without prejudice to the above, assuming the findings of the ITAT is not correct than it would not amount to a mistake apparent from record which could be rectified under the provision of section 254(2) of the Act. If the decision of the ITAT is wrong than the aggrieved parties can approach to the Higher Judicial forum i.e. Jurisdictional High Court. But such findings cannot be rectified on the reasoning that there is a mistake apparent from the record. If we do so it would amount to review its own order by the ITAT which is not permissible. - AT
Rectification u/s 254 - Penalty u/s 271(1)(c) was deleted - Without prejudice to the above, assuming the findings of the ITAT is not correct than it would not amount to a mistake apparent from record which could be rectified under the provision of section 254(2) of the Act. If the decision of the ITAT is wrong than the aggrieved parties can approach to the Higher Judicial forum i.e. Jurisdictional High Court. But such findings cannot be rectified on the reasoning that there is a mistake apparent from the record. If we do so it would amount to review its own order by the ITAT which is not permissible. - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
