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| The Tax Publishers2020 TaxPub(DT) 4143 (Bom-HC) : (2021) 276 TAXMAN 0138 INCOME TAX ACT, 1961
Section 254
Tribunal having held that the revised return was filed beyond the prescribed period of limitation, was not justified in addressing the issue of disallowances and thereby recording the finding of fact as if, it was the assessing authority.
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Appeal (Tribunal) - Order of Tribunal - Recording of finding of fact -
Revenue filed appeal against the order of Tribunal wherein after holding that revised return filed by the assessee was barred by limitation. Tribunal, went even further and determined that the disallowances made by AO were not justified and ordered deletion of the same. Held: Tribunal was justified in holding that the revised return was filed by the assessee beyond the prescribed period of limitation and, therefore, AO could not have proceeded to assess only the revised return or finalized the proceedings only on the basis of the revised return. However, after having reached to this conclusion, Tribunal was not justified in going into the issue of disallowances as this later exercise involved examination of factual matrix which, in the facts and circumstances of the present case, Tribunal should not have undertaken as if it were the authority of the first instance.
REFERRED :
FAVOUR : In favour of assessee.
A.Y. : 2007-08
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