Mistake apparent from record rejected where section 50C point on leasehold rights was never raised in appeal grounds.

Section 50C inapplicability to leasehold rights was not raised in the original grounds of appeal, which instead challenged the stamp duty-based valuation and rejection of the assessee's evidence on long-term capital gains. As the omitted point was not part of the appeal record, the Tribunal held that failure to decide it could not constitute a mistake apparent from the record. The miscellaneous application for recall was therefore rejected.

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Issues: Whether there was any mistake apparent from record warranting recall of the Tribunal's earlier order for not deciding the applicability of section 50C to leasehold rights in land.

Analysis: The ground of appeal, as originally filed, challenged the determination of long-term capital gain based on stamp duty valuation and the rejection of the assessee's valuation evidence. It did not specifically raise the contention that section 50C was inapplicable to leasehold properties. Since the issue now sought to be urged had not been taken in the grounds of appeal, the omission to decide it could not be treated as an error apparent from the record.

Conclusion: No mistake apparent from record was made out. The miscellaneous application was rejected.

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