9911796707
TMI Blog2019 (9) TMI 736X X X X Extracts X X X X X X X X Extracts X X X X ..... Petitioner had filed an statutory appeal, it would not be proper to decide the rectification application. 3. The Petitioner is an investment fund. The Petitioner had filed its return of income for the Assessment Year 2015-16 on 8 October 2015. Petitioner had disclosed total income of Rs. 65,65,84,797 being interest income earned on its investment. Petitioner paid Advance Tax of Rs. 16,80,00,000/-. Petitioner's case was selected for scrutiny assessment vide notice dated 28 July 2016. Petitioner filed its reply to the notice. Petitioner filed a revised return of income disclosing Nil income for the Assessment Year 2015-16. The scrutiny assessment was completed by the Assistant Commissioner of Income Tax, Mumbai. The Assessment order was pas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g for the Petitioner and Mr. Sham Walve, learned counsel appearing on behalf of Respondents. 7. The relevant provisions of the Section 154 read thus: '154.[(1) With a view to rectifying any mistake apparent from the record an income-tax authority referred to in section 116 may, - (a) amend any order passed by it under the provisions of this Act; [(b) amend any intimation or deemed intimation under sub-section (1) of section 143; ]] [(c) amend any intimation under sub-section (1) of section 200A;] [(d) amend any intimation under sub-section (1) of section 206CB.] [(1A) Where any matter has been considered and decided in any proceeding by way of appeal or revision relating to an order referred to in sub-section(1), the authority ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er shall not be amended. Section 154 (1A) thus places an embargo on the power of rectification in the cases where the matter has been considered and decided in appeal or revision. It is of importance that the legislature has used the phrase 'considered and decided' in the past tense. The phrase 'considered and decided' cannot be read as 'pending consideration in appeal or revision'. To do so would be adding and changing the plain language of the statute. By modifying and adding the words, in this manner, which is not permissible, the Assistant Commissioner has divested himself of the power of amendment. In view of the plain language of section 154, there is no embargo on the power of amendment if an appeal or revision is merely pending. The ..... X X X X Extracts X X X X X X X X Extracts X X X X
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