https://www.taxtmi.com/caselaws?id=766498 The Bombay HC set aside the ITAT's order where the tribunal exceeded its jurisdiction under Section 254(2) of the IT Act. The case involved characterization of income from a sister concern as either income from house property or income from other sources. The HC held that ITAT's jurisdiction under Section 254(2) is limited and not akin to substantial review. The tribunal could not review its earlier finding on the income classification issue, which was already pending before the HC in revenue's appeal under Section 260-A. en-us Mon, 24 Feb 2025 00:00:00 +0530 Wed, 26 Feb 2025 08:17:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766498 The Bombay HC set aside the ITAT's order where the tribunal exceeded its jurisdiction under Section 254(2) of the IT Act. The case involved characterization of income from a sister concern as either income from house property or income from other sources. The HC held that ITAT's jurisdiction under Section 254(2) is limited and not akin to substantial review. The tribunal could not review its earlier finding on the income classification issue, which was already pending before the HC in revenue's appeal under Section 260-A. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766498