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2019 (6) TMI 989 - ITAT JAIPURRectification of mistake u/s 254 - incorrect claim of deduction u/s 54B - part of purchase consideration was paid subsequent to the receipt of the sale consideration of the existing asset part of purchase consideration was paid by the assessee prior to the receipt of the sale consideration - allowability of deduction u/s 54B on investment prior to sale - HELD THAT:- Tribunal has decided the issue on merits after analyzing and evaluation of the relevant facts and evidence. The said decision on merits of the case cannot be reconsidered in the proceedings U/s 254(2). The Revenue is reiterating its stand and it was taken by the AO while disallowing the claim of deduction U/s 54B hence, we do not find that the miscellaneous application has pointed out any apparent mistake on the face of the order which can be rectified U/s 254(2). The jurisdiction of the Tribunal U/s 254(2) is very limited and circumscribed to rectify the apparent mistake on record but not to reevaluate the fact and evidence already considered while passing the impugned order on merits. Hence, we do not find any merits or substance in the miscellaneous application filed by the Revenue.
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