https://www.taxtmi.com/caselaws?id=63519 The Tribunal rejected the assessee partnership firm's miscellaneous application seeking rectification of orders related to penalty appeals, citing that the application was not maintainable under Section 254(2) of the Income-tax Act due to exceeding the time limit and not falling under the Tribunal's inherent powers for rectification. The Tribunal emphasized the limitations of its powers, including adherence to statutory provisions and the law of limitation. Relevant case laws were analyzed, with the Tribunal ultimately affirming the department's objection and concluding that the application was not valid based on legal provisions and precedents discussed. en-us Mon, 29 Sep 1986 00:00:00 +0530 Mon, 31 Jan 2011 14:49:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63519 The Tribunal rejected the assessee partnership firm's miscellaneous application seeking rectification of orders related to penalty appeals, citing that the application was not maintainable under Section 254(2) of the Income-tax Act due to exceeding the time limit and not falling under the Tribunal's inherent powers for rectification. The Tribunal emphasized the limitations of its powers, including adherence to statutory provisions and the law of limitation. Relevant case laws were analyzed, with the Tribunal ultimately affirming the department's objection and concluding that the application was not valid based on legal provisions and precedents discussed. Case-Laws Income Tax Mon, 29 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63519