https://www.taxtmi.com/caselaws?id=349472 The Tribunal dismissed the assessee's Miscellaneous Application seeking rectification of the penalty levied on purchases made from parties not found at the given address. The Tribunal held that rectification under Section 254(2) of the Act was limited to correcting mistakes apparent from the record and did not allow for a review based on new arguments or decisions not cited during the proceedings. Therefore, the Tribunal concluded that the application was outside the scope of rectification and upheld the penalty levy. en-us Wed, 04 Oct 2017 00:00:00 +0530 Sat, 14 Oct 2017 07:57:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349472 The Tribunal dismissed the assessee's Miscellaneous Application seeking rectification of the penalty levied on purchases made from parties not found at the given address. The Tribunal held that rectification under Section 254(2) of the Act was limited to correcting mistakes apparent from the record and did not allow for a review based on new arguments or decisions not cited during the proceedings. Therefore, the Tribunal concluded that the application was outside the scope of rectification and upheld the penalty levy. Case-Laws Income Tax Wed, 04 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349472