[aaykarbhavan] No recalling of ITAT's order if it disallowed interest when borrowed sum wasn't used in business of assessee

No recalling of ITAT's order if it disallowed interest when borrowed sum wasn't used in business of assessee

February 19, 2015[2015] 54 taxmann.com 57 (Cochin - Trib.)

IT : Where Tribunal specifically found that borrowed money was not used in money lending business by assessee, and, hence giving any credit towards payment of interest on borrowed fund did not arise, recalling of Tribunal's order was not justified

IT : power to rectify a mistake under section 254(2) cannot be used for recalling entire order

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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