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Review u/s 254(2) only if there is a mistake apparent from the record
Case Law Details
- Case Name
- M/s. Janus Investment Pvt. Ltd. Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2007-08
- Courts
- All ITAT, ITAT Mumbai
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Brief summary of the case
Assessee-company was engaged in the business of leasing of property and development of properties. It filed its return of income on 29/10/2007, declaring total income of Rs. Nil and the AO finalised the assessment order u/s.143(3) of the Act,1961 on 30.12.2009 by disallowing 1/5th of interest of Rs.63.86 lakhs on borrowed capital (relating to the period upto the date of completion of construction of building). Assessee filed an appeal before the First Appellate Authority (FAA) who decided the issue in favour of the assessee. The appeal filed by the AO was decided by t...
