Relief to Alukkas Jewellery: Settlement Commission Unauthorized to Rectify Orders Pre-2011 Income Tax Amendment, Rules Madras HC [Read Order]

The court observed that the commission had no power to make rectifications unless explicitly authorized by law.
By Varda Marakkar - On September 25, 2024 8:42 am - 2 mins read
Madras HC - Tax relief - IT amendment - Tax case - Jewelry tax - Invalid order - TAXSCAN

In a relief to Alukkas Jewellers, the Madras High Court ruled that the Income Tax Settlement Commission had no authority to rectify its orders under Section 154 of the Income Tax Act 1961 (ITA) before the 2011 amendment that granted such power. The Court held that the rectification made by the Settlement Commission in 2003,…

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