2025 (2) TMI 458 - SCH - Income Tax

Scrutiny by the High Court in an appeal u/s 260A for Determination of the arm s length price made by the Tribunal - whether in every case where the Tribunal determines the arm s length price the same shall attain finality and the High Court is precluded from considering the determination of the arm s length price determined by the Tribunal in exercise of powers u/s 260A? This application has been filed seeking recall of this Court s order 2023 (4) TMI 859 - SUPREME COURT on the ground that it had been tagged inadvertently. HELD THAT - Though the order pertains to a different issue even the issue raised in Special Leave Petition is covered by the decision of this Court in Ahmedabad Urban Development Authority 2022 (10) TMI 948 - SUPREME COURT Miscellaneous application stands dismissed.

Summary

The Supreme Court, in a judgment delivered by Hon'ble Mr. Justice M.M. Sundresh and Hon'ble Mr. Justice Rajesh Bindal, dismissed an application seeking the recall of the Court's order dated 19th April, 2023 in Civil Appeal No. 2939 of 2023. The application was filed on the grounds of inadvertent tagging, despite the issue raised being covered by a previous decision of the Court in (2023) 4 SCC 561 titled, "Assistant Commissioner of Income Tax (Exemptions) vs. Ahmedabad Urban Development Authority". Consequently, the Court dismissed the miscellaneous application and an additional application for recall of the order.