Muninaga Reddy v. ACIT (Karn)(HC),www.itatonline.org

S. 254(2):Appellate Tribunal-Rectification of mistake apparent from the record –Limitation-Delay of 4 months and 10 days -Though the Tribunal has no power u/s 254(2) to condone delay in filing the MA, the High Court has power under Articles 226 and 227 of the Constitution of India to do substantial justice by condoning the delay. Injustice was done to the assessee because the Tribunal did not follow the binding judgement in CIT v. Manjunatha Cotton and Ginning Factory ( 2013) 359 ITR 565 ( Karn) (HC) on the issue of levy of penalty u/s 271(1)(c). Accordingly, the delay in fling the MA deserves to be condoned [ S.271(1)( c ) ]