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| The Tax Publishers2020 TaxPub(DT) 3743 (Del-HC) INCOME TAX ACT, 1961
Section 254 r/w Section 271(1)(c)
Where revenue challenged order of Tribunal contending that Tribunal could not review its order by placing reliance on decision of Court, which was not 'jurisdictional' High Court, considering fact that business of assessee was closed way back in 2001 and proceedings pertain to assessment year, 1998-1999, which as more than two decades ago, Court was not inclined to interfere with order of Tribunal.
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Appeal (Tribunal) - Review of order by placing reliance on judgment of High Court, which was not jurisdictional Court - Power of Tribunal to review its order -
Revenue challenged order of Tribunal contending that in exercise of the power under section 254(2), Tribunal could not have reviewed its earlier order. Case of revenue was that judgment on basis of which, earlier decision of Tribunal was reversed was not of 'jurisdictional' High Court but of Karnataka High Court. Issue pertained to recovery of penalty imposed under section 271(1)(c) from one of directors of assessee, whose business was closed. Held: While Court was conscious that the question raised by the revenue merited consideration, but in facts of instant case where business of assessee was closed way back in 2001 and proceedings pertain to assessment year, 1998-1999, which as more than two decades ago, Court was not inclined to interfere with order of Tribunal.
REFERRED : CIT & Ors. v. Manjunatha Cotton & Ginning Factory & Ors. (2013) 359 ITR 565 : 2014 TaxPub(DT) 0202 (Karn-HC) Madhushree Gupta v. UOI & Anr. (2009) 317 ITR 107 : 2009 TaxPub(DT) 1926 (Del-HC) Shree Vardhman Overseas Ltd. v. DCIT 2018 TaxPub(DT) 2512 (Del-Trib)
FAVOUR : In assessee's favour
A.Y. : 1998-99
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