Samriddhi Petroproducts Private Limited Vs ITO (ITAT Hyderabad)
ITAT Hyderabad held that the Tribunal has no power to recall/review its own orders in terms of scope and power of Tribunal for rectification of order u/s. 254(2) of the Income Tax Act.
Facts- The original assessment order was passed on 12/09/2016 and against that 263 order was passed by the learned Principal CIT on 28/02/2019, as none appeared on behalf of the assessee in the 263 proceedings. Feeling aggrieved, the assessee challenged the order of the learned PCIT before the Tribunal to grant fresh hearing. The learned PCIT on the basis of the direction had passed the detailed reasoned order u/s 263 which was the subject matter of the challenged before the Tribunal in ITA No.211/Hyd/2023.
Conclusion- Held that the scope and power of the Tribunal for rectification of the order u/s 254(2) of the I.T. Act, 1961 has been explained by the hon Supreme Court in the case of CIT vs. Reliance Petroproducts whereby the Hon’ble Supreme Court has held that the Tribunal has no power to recall/review its own orders.
Held that we do not find any reason to interfere in the miscellaneous application filed by the assessee as it will amount to deciding the issue on merit which in our understanding is not the scope of the application u/s 254(2) of the I.T. Act, 1961. For the above reason, the M.A filed by the assessee is dismissed.
