Case Law Details
Case Name : Ganjikunta Kishore Babu (HUF) Vs ITO (ITAT Hyderabad)
Appeal Number : M.A. No. 85/Hyd/2016, ITA No. 839/Hyd/2015: 28/02/2017
Date of Judgement/Order : 2011-12
Related Assessment Year :
Courts :
All ITAT ITAT Hyderabad
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By Section 254(4) of the IT Act, an order which has been passed by the Tribunal reaches finality the moment the same is passed: it cannot be touched thereafter. By section 254(2) of the act, the Tribunal, however, has been authorized to rectify mistakes in its orders, which are apparent on the face of the records. The expression “mistake apparent on the record” means a mistake either clerical or grammatical or arithmetical or of like nature, which can be detected without there being any necessity to re-argue the matter or to reappraise the facts as appearing from the records.
1. The assessee has filed this M.A. seeking rectification of mistake crept into the order of the Tribunal passed in ITA No. 839/Hyd/2016 dated 24/08/2016.
2. In the M.A., the assessee stated as follows:
1. The Hon’ble ITAT vide its order cited above, at Para 12.1 sustained the addition made in the sum of Rs.15,79,809/- being transfer of machinery by the Individual to his HUF appellant, allegedly assessable under section 56 (2) of the Act.
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