Authority rules B+G+31 service apartment is commercial building construction, not multi-storey residential for tax classification under RERA definitio...
Resale price method upheld for distribution; assessee's margins accepted and certain transfer-pricing adjustments deleted due to documented reimbursem...
CESTAT dismissed the second rectification application as not maintainable and sustained the revenue's objection. The Tribunal held that where a rectification petition filed by one party has been considered and decided by the Tribunal under s.254(2) of the Income Tax Act, a subsequent rectification by either party on the same issue (here, eligibility for SSI threshold exemption) cannot be entertained; a second rectification is permissible only in respect of matters not earlier adjudicated in any rectification application by either party. Consequently, the second rectification was rejected and the application was dismissed.
CESTAT dismissed the second rectification application as not maintainable and sustained the revenue's objection. The Tribunal held that where a rectification petition filed by one party has been considered and decided by the Tribunal under s.254(2) of the Income Tax Act, a subsequent rectification by either party on the same issue (here, eligibility for SSI threshold exemption) cannot be entertained; a second rectification is permissible only in respect of matters not earlier adjudicated in any rectification application by either party. Consequently, the second rectification was rejected and the application was dismissed.
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