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...
HC held that s.254(2) of the I.T. Act is analogous to Order 47 r.1 CPC and that the Explanation to Order 47 r.1 bars review on the basis of a subsequent decision of a superior court; a change in law or a later co-ordinate/larger bench ruling does not constitute a ground for invoking s.254(2). The court ruled the ITAT lacked jurisdiction to amend its earlier order by relying on a post-date superior judgment where no mistake was apparent on the record as of the original decision date. Consequently the ITAT order passed under s.254(2) was set aside, and the concomitant ITAT order under s.254(1) dismissing the appeal was also overturned.
HC held that s.254(2) of the I.T. Act is analogous to Order 47 r.1 CPC and that the Explanation to Order 47 r.1 bars review on the basis of a subsequent decision of a superior court; a change in law or a later co-ordinate/larger bench ruling does not constitute a ground for invoking s.254(2). The court ruled the ITAT lacked jurisdiction to amend its earlier order by relying on a post-date superior judgment where no mistake was apparent on the record as of the original decision date. Consequently the ITAT order passed under s.254(2) was set aside, and the concomitant ITAT order under s.254(1) dismissing the appeal was also overturned.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
