https://www.taxtmi.com/caselaws?id=283597 The Tribunal allowed the Assessee's Miscellaneous Application regarding disallowance under section 14A of the Income Tax Act, acknowledging a mistake in its prior order and scheduling a new hearing. Conversely, it dismissed the application concerning disallowance under section 36(1)(iii), citing limited rectification powers under section 254(2), which do not permit reevaluation of evidence or re-adjudication. The Tribunal emphasized that rectification cannot reopen or reargue the entire matter. The judgment underscores the restricted scope of rectification and was pronounced in Open Court on 10-06-2015. en-us Wed, 10 Jun 2015 00:00:00 +0530 Thu, 14 Nov 2024 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283597 The Tribunal allowed the Assessee's Miscellaneous Application regarding disallowance under section 14A of the Income Tax Act, acknowledging a mistake in its prior order and scheduling a new hearing. Conversely, it dismissed the application concerning disallowance under section 36(1)(iii), citing limited rectification powers under section 254(2), which do not permit reevaluation of evidence or re-adjudication. The Tribunal emphasized that rectification cannot reopen or reargue the entire matter. The judgment underscores the restricted scope of rectification and was pronounced in Open Court on 10-06-2015. Case-Laws Income Tax Wed, 10 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283597