new delhi, Feb. 27 -- A recent tax tribunal order that cited fictitious court judgments before it was hastily withdrawn has raised suspicions about the potential use of Generative AI-A transformative technology that has swept the world but has occasionally made up stuff. In December, the Bengaluru bench of the Income Tax Appellate Tribunal (ITAT) passed an order citing three Supreme Court judgments and one Madras high court judgement that do not exist. In just a week, the order was withdrawn, citing "inadvertent errors".
The case involving Buckeye Trust before the ITAT's Bengaluru bench pertained to the taxability of a transaction in which a person settled (created) a trust worth Rs.669 crore, mainly by transferring interest in a partnersh...