2017 (9) TMI 1574

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Shri S. Rifaur Rahman, Accountant Member Assessee by : Shri S. Rama Rao Revenue by : Smt. N. Swapna ORDER Per D. Manmohan, Vice President By these applications, assessee seeks rectification of orders passed by the ITAT 'B' Bench, Hyderabad for the reasons given in the petition. At the outset, it may be noted that the impugned order was pronounced on 18-11-2015 and as per the provisi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d in ITA No. 8247/Mum/2011 (M.A. No. 103/Mum/2017), wherein the Bench concluded that the amendment is clarificatory in nature therefore, retrospective in operation. Period of limitation can be taken into consideration from 01-06-2016 even for the orders passed prior to that cutoff date. In this regard the Tribunal observed as under: "4. We have heard the rival contentions and perused relevant m....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... in which the order was passed, with a view to rectifying any mistake apparent from the record, amend any7 order passed by it under sub-section (1) and shall make such amendment if the mistake is brought to its notice by the assessee or the Assessing Officer; It is to be noticed that the earlier period of 'four years' has been substituted with 'six months' by the Finance Act, 2016 with effect f....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on 253(5). However, this Tribunal is not enshrined with such powers in respect of a miscellaneous petition filed u/s 254(2) of the Income Tax Act. If we are not given that power, then it is not expected from us to exercise such power which is not provided in the Act. The Tribunal, being creation of law, is bound by the statutory provisions and our jurisdiction is simply to interpret and follow the....