2018 (10) TMI 1608 - HC - Income Tax

Rectification application u/s 254(2) - held that - There is a clerical error and ambiguity in the order passed 2018 (10) TMI 1132 - BOMBAY HIGH COURT , on the appeals and the writ petition. The correction as proposed in the praecipe of the learned advocate for the petitioner / appellant Mr. Atul Jasani be, therefore, carried out. 2 The sub-paragraph (a) of paragraph 46 would read as under (a) In the event the tax on a sum of ₹ 3,25,00,000/- (Rupees Three crores twenty five lakhs) is deposited by the petitioner with the Respondent/Revenue within a period of two months from the date of receipt of a copy of the order giving effect to this order, each of the Income Tax Appeals before the Tribunal and the proceedings before us would stand disposed of. The order should contain an addition as proposed by Mr. Malhotra and while we clarify that the tax on the above sum has to be computed and paid, it will be open for the Revenue official to also include in the amount, the quantum of interest, if any. Secondly, the amount as payable be apportioned in terms of the Assessment Years in relation to which the decision of the Tribunal has been rendered.

Summary

The High Court of Bombay found a clerical error and ambiguity in the order passed on 3rd October, 2018. The correction proposed by the petitioner's advocate was accepted. The tax of Rs. 3,25,00,000 should be deposited by the petitioner within two months for the appeals to be disposed of. The order should include the computation and payment of tax, potential interest, and apportionment based on Assessment Years.