https://www.taxtmi.com/caselaws?id=367423 The Tribunal dismissed the Revenue's application for recall under section 254(2) of the Income Tax Act, 1961, emphasizing that the SEBI's final order was not a basis for reconsideration. The Tribunal upheld the original decision, stating that the SEBI order did not affect the genuineness and creditworthiness of the transactions. The application lacked specific errors in the initial order and failed to present new adverse material. The Tribunal held that the Department's failure to provide contrary evidence led to affirming the Commissioner (Appeals)'s decision. The application was deemed not maintainable, and the Tribunal declined to review its ruling. en-us Mon, 10 Sep 2018 00:00:00 +0530 Thu, 20 Sep 2018 08:22:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367423 The Tribunal dismissed the Revenue's application for recall under section 254(2) of the Income Tax Act, 1961, emphasizing that the SEBI's final order was not a basis for reconsideration. The Tribunal upheld the original decision, stating that the SEBI order did not affect the genuineness and creditworthiness of the transactions. The application lacked specific errors in the initial order and failed to present new adverse material. The Tribunal held that the Department's failure to provide contrary evidence led to affirming the Commissioner (Appeals)'s decision. The application was deemed not maintainable, and the Tribunal declined to review its ruling. Case-Laws Income Tax Mon, 10 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367423