2015 (1) TMI 1491 - SCH - Income Tax

Rectification of mistake u/s 154 - Reconsideration of turnover as per HC what the assessee wants and seeks by way of rectification is re-examination of entire bank accounts and re-computation of the turnover - Tribunal made it clear that 0.6% rate of commission would apply to the entire transaction including the transactions which were genuine i.e. the transactions which were recorded in the stock exchange - this cannot be undertaken in exercise of power u/s 154 - HC said the order passed by the Tribunal rejecting the application u/s 154 cannot be interfered - HELD THAT - SLP dismissed.

Summary

The Supreme Court of India dismissed the Special Leave Petition as there was no reason to entertain it. Delay was condoned. (Citation: 2015 (1) TMI 1491 - SC Order)