04 March 2009
Hello all, As per my reading of the sec. 154 i have understood that it is open for the AO to rectify any mistakes if it relates on the judments given by SC in any case even if such judment is passed after the completion of assessment by AO.Pls let me know whether my understabding of the concept is correct and pls correct me if i am wrong.
04 March 2009
i dont thik so : reference is from direct taxes AY 2008-09 Vinod K Singhania :
if the supreme court has subsequently reversed or modified the exxiting interpretation of law in another case it does not render earlier judgement open to review nor does it constitute mistake or error apparent on face of record envisaged US 154.
05 March 2009
Hello sir, Thanks for helping me out, but i still have s little doubt as regards to the case law and wordings given in the book of Mr. Girish Ahuja,which says and I quote " The case law of CIT v Subodhchandra.S.Patel (2004) 138 Taxman 185 (Guj),held that the non consideration of a judgment of the HC or SC would always constitute a mistake apparent from record regardless of the judgment being rendered prior to or subsequent to the order proposed to be rectified." Would in this situation too the Ao would not be in the position to rectify the order.
likewise a later judgement of jurisdictional High Court can not give rise to a mistake apparent from record in order passed by Tribunal earlier - Trilok Ship Breakers PVt. Ltd. v CIT [2003] 84 ITD 48 (Mum.)
i need to refer book of Mr. Girish Ahuja, and the case law of CIT v Subodhchandra.S.Patel (2004) 138 Taxman 185 (Guj), and many times different High court take diffrent views,so there is controversy
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