Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
Bona fide disclosure requirements govern under-reporting penalties, and post-penalty immunity applications cannot secure available statutory protectio...
Certificate-of-origin verification procedure governs preferential customs benefits; denial without retroactive verification was set aside with consequ...
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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.
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