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2019 (6) TMI 230 - ITAT DELHIRectification u/s. 154 - as per AO addition made u/s 68 has to be taxed at a flat rate of 30% and no deduction and allowance can be set off there with u/s. 115 BBE - Scope of amendment - HELD THAT:-The amendment is applicable from 01.04.2017. In our considered view whether the amendment is prospective or retrospective is a highly debatable issue and, therefore, cannot be a subject matter of rectification u/s. 154 of the Act. Considering the facts of the case and the law we set aside the findings of the CIT(A) and quash the rectification order dated 05.05.2016 framed u/s.154 of the Act. - Decided in favour of assessee.
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