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UJJAL BHUYAN, C. V. BHASKAR REDDY
State Bank of India – Appellant
Versus
Deputy Commissioner of Income Tax, Circle 3(2) – Respondent
JUDGMENT :
Ujjal Bhuyan, J.
Heard Mr. Karthik Ramana Puttam Reddy, learned counsel for the appellant and Ms. K.Mamata Chowdary, learned Standing Counsel for Income Tax Department appearing for the respondent.
2. This appeal has been preferred by the assessee as the appellant under Section 260A of the Income Tax Act, 1961 (briefly, ‘the Act’ hereinafter) against the order dated 23.02.2001 passed by the Income Tax Appellate Tribunal, Hyderabad Bench ‘B’, Hyderabad (Tribunal) in M.P.No.2/Hyd/2001 in Interest Tax Appeal No.9/Hyd/1992 for the assessment year 1985-86.
3. The appeal was admitted on 20.09.2001 on the following substantial questions of law :
2) Whether the amendment of earlier order passed by the Tribunal to bring it in conformity with the law propounded by the Supreme Court subsequently amounts to review and not rectification apparent from the record under the pro
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....
Rectification under the Income Tax Act is confined to mistakes apparent from the record and not mere discrepancies in legal opinions.
Power available to the Tribunal is not in the nature of a review as is understood in legal parlance. The power is limited to correction of mistakes apparent from the record. What is significant is th....
The main legal point established in the judgment is that the power under Section 254(2) of the Income Tax Act allows for the rectification of apparent mistakes in the Tribunal's order, without revisi....
An order under Section 154 does not necessitate inquiries, and thus cannot be deemed erroneous under Section 263 without breaching statutory limits.
The duty of tax authorities to assist taxpayers in claiming reliefs and benefits, and the erroneous rejection of rectification applications.
The power of the Appellate Assistant Commissioner to rectify a mistake under Section 35 of the Act is not affected by the fact that there was an appeal to the Tribunal, if the subject-matter of the a....
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