https://www.taxtmi.com/caselaws?id=448403 The HC upheld ITAT's decision allowing Revenue's rectification application u/s 254(2) of Income Tax Act. The case involved Department's appeal against low tax effect assessment based on CBI seizure information. ITAT initially dismissed the appeal citing monetary limits under circular dated 11.07.2018, but later allowed rectification after considering amendment dated 20.07.2018 which inserted Clause 10(e). This clause permits appeals based on external law enforcement agency information regardless of monetary limits. HC held ITAT committed no illegality as the error was apparent on record and rectifiable under Section 254(2) powers. en-us Fri, 12 Jan 2024 00:00:00 +0530 Thu, 29 Aug 2024 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448403 The HC upheld ITAT's decision allowing Revenue's rectification application u/s 254(2) of Income Tax Act. The case involved Department's appeal against low tax effect assessment based on CBI seizure information. ITAT initially dismissed the appeal citing monetary limits under circular dated 11.07.2018, but later allowed rectification after considering amendment dated 20.07.2018 which inserted Clause 10(e). This clause permits appeals based on external law enforcement agency information regardless of monetary limits. HC held ITAT committed no illegality as the error was apparent on record and rectifiable under Section 254(2) powers. Case-Laws Income Tax Fri, 12 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448403