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Rectification u/s 254 - The High Court acknowledges that the Tribunal is the final authority to ascertain facts. However, it must rectify any apparent mistakes in its orders under section 254(2) of the ITA. The High Court scrutinizes the Tribunal's decision and finds that the Tribunal did not dispute the details of loss filed by the petitioner before the AO and the Commissioner. Instead, it focused on whether the petitioner had claimed the loss from the transporters. Considering the above, the High Court sets aside and quashes the impugned order of the Tribunal.
Rectification u/s 254 - The High Court acknowledges that the Tribunal is the final authority to ascertain facts. However, it must rectify any apparent mistakes in its orders under section 254(2) of the ITA. The High Court scrutinizes the Tribunal's decision and finds that the Tribunal did not dispute the details of loss filed by the petitioner before the AO and the Commissioner. Instead, it focused on whether the petitioner had claimed the loss from the transporters. Considering the above, the High Court sets aside and quashes the impugned order of the Tribunal.
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