SC Upholds HC Ruling as Subsequent SC Judgment Cannot Justify ITAT Rectification

ITO Vs Infantry Security And Facilities (Supreme Court of India) The Supreme Court dismissed the Revenue’s Special Leave Petition (SLP) against the judgment of the Bombay High Court in a case concerning the scope of rectification powers under Section 254(2) of the Income Tax Act and the effect of subsequent judicial decisions on concluded Tribunal orders. The Supreme Court condoned the delay in filing the SLP but found no ground to interfere with the High Court’s decision. Consequently, the SLP was dismissed and all pending applications stood disposed of. The dispute arose from Ass...