Case Law Details
Otis Elevator Company (India) Limited Vs DCIT (ITAT Mumbai)
ITAT held that given the limited scope of section 154 for rectification of mistakes apparent on record and given the fact that the period to be excluded for grant of interest has not yet been taken a call on by the PCCIT/CCIT/PCIT or the CIT, the impugned withdrawal of interest under section 244A(2) is beyond the scope of rectification of mistake under section 154.
FULL TEXT OF THE ORDER OF ITAT MUMBAI
1. By way of this appeal, the assessee appellant has challenged correctness of the order dated 24th May, 2022 passed by the learned CIT(A) in the matter of rectification of mistake under section 154 r.w.s. 143(3) of the Income Tax Act, 1961, for the assessment year 2010-11.
2. Grievances raised by the assessee appellant are as follows :
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