Rectification u/s 254 allowed by ITAT - The adverse judgment ...

ITAT Permits Rectification for Adverse Judgment Contestation, Overrides Monetary Limits Regardless of Tax Effect.

January 18, 2024

Case Laws Income Tax HC

Rectification u/s 254 allowed by ITAT - The adverse judgment relating to the said issues will be contested on merits notwithstanding that the tax effect entailed is less than the monetary limits specified in para 3 above or there is no tax effect. The assessment order passed by the Assessing Authority clearly provides that the undisclosed income belonging to the assessee is as per the investigation of C.B.I. thus, the learned Tribunal has not committed any illegality or irregularity in allowing the Miscellaneous Application filed by the Revenue. - HC

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Rectification u/s 254 allowed by ITAT - The adverse judgment ...

ITAT Permits Rectification for Adverse Judgment Contestation, Overrides Monetary Limits Regardless of Tax Effect.

January 18, 2024

Case Laws Income Tax HC

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