| COURT: |
|
| CORAM: |
|
| SECTION(S): |
|
| GENRE: |
|
| CATCH WORDS: |
|
| COUNSEL: |
|
| DATE: |
(Date of pronouncement) |
| DATE: |
June 15, 2010 (Date of publication) |
| AY: |
|
| FILE: |
|
| CITATION: |
|
|
|
Retrospective amendment after passing order does not lead to “apparent mistake”
Following HCL Comnet 305 ITR 409 (SC), the Tribunal took the view vide order dated 17.3.2009 that provision for bad debts debited to the P&L A/c could not be added to the “book profits” u/s 115JA. To supercede HCL Comnet, clause (g) was inserted in the Explanation to s. 115JA by the F. A. 2009 w.r.e.f 1.4.1998. The amendment received the assent of the President on 19.8.2009, after the order of the Tribunal was passed. The department filed a MA contending that in view of the said retrospective amendment, there was a “mistake apparent from the record”. HELD dismissing the application:
As per the law laid down in Sudhir Mehta 265 ITR 548 (Bom), where an order is passed as per the prevailing law, a retrospective amendment which comes into force after the date of the passing of the order does not show any mistake in the order.
See Also:
ACIT vs. Saurashtra Kutch 305 ITR 227 (SC) (
order passed contrary to even a subsequent judgement of the apex court/ jurisdictional High Court reflects an “apparent mistake”),
Venkatachalam v. Bombay Dyeing 34 ITR 143 and
S.A.L. Narayan Row 57 ITR 149 (
question whether there is an apparent mistake has to be seen as per the amended law) &
General Electric 112 ITR 246 (Cal) (
retrospective law shows a mistake which may not be “apparent”).
Related Posts:
- Technimont Pvt Ltd vs. ACIT (ITAT Mumbai) The effect of Hon’ble Supreme Court’s judgment in PVAL Kulandagan Chettiar 267 ITR 654 (SC) thus was clearly overruled by the legislative developments. It was specifically legislated that the mere fact of taxability in the treaty partner jurisdiction will not take it out of the ambit of taxable income of…
- Kamal Galani vs. ACIT (ITAT Mumbai) It is the case of the Ld. AO that account with HSBC bank , Geneva is opened by resident Indian and black money earned by such resident Indian has been stashed abroad without paying taxes/disclosing income in India. But, fact remains that in the instant case, the account was opened…
- Bank Of India vs. ACIT (ITAT Mumbai) In the present case, our entire focus was on whether these foreign tax credits could be allowed even when such tax credits lead to a situation in which taxes paid abroad could be refunded in India, but that must not be construed to mean that, as a corollary to our…
- Hemant M Mehta HUF vs. ACIT (ITAT Mumbai) It is clear from the above decisions that in case of bogus purchases where sales are accepted, the addition is required to be made only to the extent of difference between the GP declared by the assessee on normal purchases vis a vis bogus purchases
- Pandhes Infracon Pvt Ltd vs. ACIT (ITAT Mumbai) As all of us are traversing through one of the toughest patch of time, facing the Covid 19 pandemic, and the poorer sections of society are hardest hit. It is, therefore, all the more necessary for every employer company to take care of its employees. We find that in view…
- Bank of India vs. ACIT (ITAT Mumbai) The effect of Hon'ble Supreme Court's judgment in Kulandagan Chettiar (267 ITR 654) that income taxable in the source jurisdiction under the treaty provisions cannot be included in total income of the assessee is clearly overruled by the legislative developments. It is specifically legislated that the mere fact of taxability…
Recent Comments