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DELHI HIGH COURT
MANMOHAN, MANMEET PRITAM SINGH ARORA
Ambarnuj Finance and Investment Pvt. Ltd. – Appellant
Versus
Deputy Commissioner of Income Tax – Respondent
| Table of Content |
|---|
| 1. factual background of the case. (Para 1 , 2 , 3 , 4 , 5 , 6 , 7) |
| 2. assessee's arguments against ao's rectification order. (Para 8 , 12 , 13 , 14) |
| 3. court's observations on the validity of the ao's order. (Para 16 , 18 , 21 , 23 , 24 , 30) |
| 4. ratio decidendi regarding mistake apparent on record. (Para 19 , 25 , 28 , 31) |
| 5. final conclusion and order on the petition. (Para 35 , 36) |
JUDGMENT
Manmeet Pritam Singh Arora, J.:
1. The present writ petition has been filed by the Petitioner, Assessee, seeking quashing of the rectification order dated 15th February, 2021, passed by the Respondent during the consideration of the Assessee's application for settlement of disputed tax under the Direct Tax Vivad Se Vishwas Act, 2020 (`Act of 2020').
2. The Assessee is also seeking a direction to the Respondent No. 1 to reconsider its application for settlement of disputed tax under the Act of 2020, for the Assessment Year (`AY') 2017-18.
3. The Assessee filed its Return of Income (`ROI') on 2nd November, 2017, and thereafter, filed its revised return on 14th May, 2018, both times declaring an income of NIL, as there was business loss in the AY 2017-18.
4. The Assessing Offi
Rectification orders under Section 154 of the Income Tax Act cannot be based on audit opinions or debatable issues, as they do not constitute a mistake apparent on the record.
Point of Law : Sub-section (2) of Section 254 of the Act says that the Appellate Tribunal may at any time within four years from the date of the order with a view to rectify any mistake apparent from....
An assessment order is erroneous and prejudicial to the revenue if an Assessing Officer fails to inquire into material issues or applies incorrect statutory provisions during reassessment, justifying....
An order under Section 154 does not necessitate inquiries, and thus cannot be deemed erroneous under Section 263 without breaching statutory limits.
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