Writ relief against show cause notices is available where jurisdiction is absent and concluded advance rulings cannot be reopened without fresh fraud ...
Section 420 of the Companies Act confers only a limited power on the Tribunal to rectify a mistake apparent from the record within the prescribed period; it does not give a party a right to seek review or reconsideration on merits. An application styled as rectification but directed at recalling disclosure, attachment and restraint directions was treated as a review petition in substance and held not maintainable. The Appellate Tribunal relied on the principle that an error requiring reappraisal or a different view on merits is not a patent mistake capable of rectification. The refusal to recall the earlier order was therefore upheld and the appeal dismissed.
Section 420 of the Companies Act confers only a limited power on the Tribunal to rectify a mistake apparent from the record within the prescribed period; it does not give a party a right to seek review or reconsideration on merits. An application styled as rectification but directed at recalling disclosure, attachment and restraint directions was treated as a review petition in substance and held not maintainable. The Appellate Tribunal relied on the principle that an error requiring reappraisal or a different view on merits is not a patent mistake capable of rectification. The refusal to recall the earlier order was therefore upheld and the appeal dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
