2026 (2) TMI 802

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (Judicial Member) For the Assessee : Shri Mrunal Parikh For the Department : Shri Krishna Kumar, Sr. DR ORDER PER OM PRAKASH KANT, AM By way of this Miscellaneous Application, the Revenue is seeking recall/rectification of the order of the Income Tax Appellate Tribunal (in short the 'Tribunal') dated 25.05.2023 passed in ITA No.2945/MUM/2022 for Assessment year 2012- 13. 2. The ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....$), the Tribunal effectively foreclosed the AO's statutory right to examine the veracity of the computation. The Revenue argues that such "attribution of finality" at the remand stage is erroneous, and the entire issue of capital gains from the slump sale ought to have been restored to the AO for a de novo adjudication in accordance with the law. 4. We have heard rival submissions of the pa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he Revenue, through this application, essentially seeks a total recall of the matter to allow the AO a fresh opportunity to examine the entire slump sale transaction. However, the power of this Tribunal under the Act is confined to the rectification of mistakes apparent from the record. 7. The prayer to recall the order and restore the matter in its entirety-despite the Tribunal having already ....