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| The Tax Publishers2019 TaxPub(DT) 7293 (Mum-Trib) INCOME TAX ACT, 1961
Section 254
Where assessee sought rectification of Tribunal's order upholding addition made by TPO/AO to assessee's ALP in respect of various international transactions entered into with AEs, since assessee failed to bring necessary material on record, i.e., copies of agreements entered into with AEs, rectification application filed by it thus, assessee's application was to be rejected.
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Appeal (Tribunal) - Tribunal was debarred from reviewing its own decision - Validity -
During the relevant assessment year, assessee entered into various international transactions with its AEs. In transfer pricing proceedings, assessee did not bring on record copies of agreements entered into with AEs. TPO/AO thus, made certain addition to assessee's ALP. Tribunal confirmed said addition. Assessee filed instant application under section 254(2) seeking rectification of Tribunal's order. Held: There was no need to go into plea challenging decision of Tribunal on merits of the issues as it was beyond limited scope of section 254(2) as otherwise it would lead to reviewing of its own decision by Tribunal in MA which was not permissible. Assessee was merely making an feeble attempt to somehow get order of Tribunal recalled which was not permissible within limited mandate as contained in section 254(2). Thus, application filed by assessee was dismissed which was merely an feeble attempt by assessee to somehow get well reasoned appellate order passed by Tribunal recalled.
REFERRED : Shivsagar Veg. Restaurant v. Asstt. CIT (2009) 317 ITR 433 (Bom.) : 2009 TaxPub(DT) 1040 (Bom-HC) Otters Club v. DIT (Exemptions) (2017) 392 ITR 244 (Bom.) : 2017 TaxPub(DT) 0689 (Bom-HC) and Crompton Greaves Ltd. v. CIT [MA No. 151 (Mum.) of 2016, dt. 11-5-2018]
FAVOUR : Against the assessee
A.Y. : 2009-10
IN THE ITAT, MUMBAI 'J' BENCH
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