Section 254(2) rectification based on subsequent SC ruling not allowed: Karnataka HC 

PCIT Vs Chandramouli (Karnataka High Court) Tax Tribunal Orders Final: Subsequent SC Judgment Cannot Trigger Sec. 254(2) Review; No Rectification for Changed Law: ITAT Order Final Despite Subsequent SC Ruling; SC Ruling No Ground for ITAT Rectification: HC on Scope of Sec. 254(2) Revenue filed this writ petition u/Art. 226 & 227 challenging the ITAT’s order dt 26.05.2023 in M.P. No.98/Bang/2023 (in ITA No.3/Bang/2022), which had rejected Revenue’s miscellaneous petition seeking rectification u/s 254(2). Revenue contended that in view of the later Supreme Court ruling in Checkmate Servi...