INCOME TAX ACT, 1961

Section 254

Appeal (Tribunal) - Rectification under section 254 - Non-adjudication of grounds raised by revenue -

Revenue filed Miscellaneous Application under section 254(2) seeking rectification of the alleged mistake in the order of the Tribunal. CIT(A) passed order considering the submission of the assessee, whereby AO was directed to adopt a profit rate of 7% and no deduction of depreciation ft interest. Further, CIT(A) considering the possession of 231 acres of agricultural land holdings, held that 20% of the total agricultural income shown is to be income from other sources and directed AO to delete the 80% of the agricultural income added under Other sources. CIT(A) confirmed the additions. ITAT was silent and had not adjudicated the other issues in the grounds of appeal. Held: Having gone through the order of Tribunal and also the grounds of appeal raised by the revenue, there was an inadvertent mistake in disposing of the appeal of the Revenue by not dealing with all the grounds raised by revenue, therefore, Miscellaneous application filed by the Revenue was allowed.

Followed:CIT v. E.D. Benny [2016] 283 CTR (Ker) 212 : 2015 TaxPub(DT) 4370 (Ker-HC), Asstt. CIT v. Alle Bala Nagi Reddy Kadapa & Vice-Versa ITA No. 1795/Hyd/2018 dated 31-12-2020 : 2021 TaxPub(DT) 337 (Hyd-Trib), ITO v. Gundapaneni Nageswara Rao [ITA No. 1799/Hyd/2013, ITA No. 28/Hyd/2014, ITA No. 1801/Hyd/2013, ITA No. 30/Hyd/2014, dt. 29-4-2014] and Asstt. CIT v. Biswajit Roy, Warangal [ITA No. 325/Hyd/2013, dt. 21-1-2014].

REFERRED :

FAVOUR : Against the assessee.

A.Y. :

SUBSCRIBE FOR FULL CONTENT