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2021 (4) TMI 232 - DELHI HIGH COURTRectification of mistake u/s 254 - Whether ITAT has exceeded its power of rectification under Section 254(2) of the Act by means of the impugned order, when the issue had been remanded to the file of the AO by the Hon’ble ITAT vide its order dated 03.09.2019 - Whether ITAT was legally justified in holding the interest income added by the AO as notional whereas the outstanding balance in HSBC account was interest bearing and there was no materials before Ld. ITAT to hold such interest as notional? - HELD THAT:- Tribunal exercised its powers, correctly, under Section 254(2) of the Act. Since the issue regarding notional interest is not adverted to in the order dated 03.09.2019, they were entitled to recall the order qua the said issue. Therefore, in our view, the first question of law does not arise for our consideration. The prayer made, in that behalf, is declined. Whether ITAT was legally justified in holding the interest income added by the AO as notional whereas the outstanding balance in HSBC account was interest bearing and there was no materials before Ld. ITAT to hold such interest as notional? - HELD THAT:- We will consider the same along with assessee’s appeal i.e. ITA No.612/2017 whereby the direction of remand qua the existence of the bank deposits has been assailed.
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