ITAT Dismisses MA for Unraised Arguments, Highlights Limited Section 254(2) Scope

Aurobindo Pharma Limited Vs ACIT (ITAT Hyderabad)

A recent decision by the Income Tax Appellate Tribunal (ITAT) Hyderabad in the case of Aurobindo Pharma Limited versus the Assistant Commissioner of Income Tax (ACIT) sheds light on the scope of Section 254(2) of the Income Tax Act and the importance of raising all relevant arguments during the main appeal proceedings. Here’s a summary of the case and the tribunal’s ruling:

Background

Aurobindo Pharma Limited filed a Miscellaneous Application (MA) seeking modification of the ITAT’s order dated 21.06.2023 in ITA No.1860/Hyd/2019 for the assessment year 2015-16 under Section 254(2) of the Income Tax Act.

Assessee’s Arguments

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