Rectification on stock exchange membership as an asset and alleged apparent error after later Supreme Court authority.

Rectification was sought on the ground that a later Supreme Court ruling on stock exchange membership had exposed a mistake apparent from the record in the Tribunal's earlier order. The text states that the earlier decision was not based solely on the Gujarat High Court ruling, but on multiple factual and legal considerations, including the broader character of stock exchange membership as examined for tax purposes. It also raises whether reference to the Supreme Court decision in the Delhi Stock Exchange matter created any apparent error for assessment year 1992-93. The document discusses the rectification issue only and does not record a final adjudicatory outcome in the excerpt.

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Issues: (i) Whether the Tribunal's earlier order contained a mistake apparent from the record warranting rectification on the basis of the Supreme Court decision concerning stock exchange membership; (ii) Whether the reference to the Supreme Court decision in the Delhi Stock Exchange matter created an apparent mistake for the assessment year 1992-93.

Issue (i): Whether the Tribunal's earlier order contained a mistake apparent from the record warranting rectification on the basis of the Supreme Court decision concerning stock exchange membership.

Analysis: The application sought rectification on the footing that the later Supreme Court ruling had altered the legal position on whether stock exchange membership is an asset. The order records that the earlier decision of the Tribunal was not founded on the Gujarat High Court ruling alone, but on multiple factual and legal considerations, including the wide connotation of

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