9911796707
TMI Blog2014 (12) TMI 394X X X X Extracts X X X X X X X X Extracts X X X X ..... nging the order of the Income Tax Appellate Tribunal, Delhi Bench, New Delhi dated 11.7.2014 passed in MA No.289/Del/2012 in ITA No.4025/Del/2012 Assessment Year 1986-1987 rejecting the petitioner's application under section 254(2) under the Income Tax Act 1961. Brief facts are that for assessment year 1986-1987, petitioner filed return of income declaring the total income of Rs. 24,970/-, wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 25.12.1998, the petitioner filed an appeal before the Commissioner of Income Tax (Appeals), Muzaffarnagar. The appeal was allowed and remanded to the Assessing Officer to decide the case a fresh on the basis of the observation made in the appellate order relating to the additions made in the hands of the petitioner pertaining to unsecured loan of M/s Vardhman Trading Company and others, (the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to some of the firms/company, however, the Tribunal confirmed the addition relating to M/s Vardhman Trading Company as per findingd recorded in paragraph 3.5 of the order, which is as follows: " 3.5 We have also considered, various cases which have been relied upon by the ld. Counsel. It emerges that the assessee is obliged to file evidence regarding the identity and creditworthiness of the lend ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een established. Therefore, we are of the view that the ld. CIT (Appeal) rightly brought this amount to tax. This, ground no.2 is dismissed." According to the petitioner, the Income Tax Appellate Tribunal has not considered the documentary evidences while deciding the appeal, non consideration of such evidences are mistake of facts and law, thus is rectifiable. The petitioner accordingly on 22.3. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an Trading Company which has already been held to be a fictitious and bogus firm. Thus the finding recorded by the authorities and the Tribunal attained finality regarding transaction pertaining to M/s Vardhman Trading Company. To invoke the provisions of Section 254(2) of the Act, there must be an error apparent on the face of record. The Income Tax Appellate Tribunal has no power to review its o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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