https://www.taxtmi.com/caselaws?id=213539 The Tribunal dismissed the application for rectification under section 254(2) of the Act, as it held that the subsequent Supreme Court decision in Liberty India could not be the basis for revising the original order. The Tribunal emphasized the importance of considering the legal position at the time of passing revisionary orders, highlighting the significance of legal clarity and existing interpretations. Consequently, the Tribunal affirmed the validity of the original order in light of the legal ambiguity prevailing at the time of the decision. en-us Fri, 04 Nov 2011 00:00:00 +0530 Tue, 17 Apr 2012 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213539 The Tribunal dismissed the application for rectification under section 254(2) of the Act, as it held that the subsequent Supreme Court decision in Liberty India could not be the basis for revising the original order. The Tribunal emphasized the importance of considering the legal position at the time of passing revisionary orders, highlighting the significance of legal clarity and existing interpretations. Consequently, the Tribunal affirmed the validity of the original order in light of the legal ambiguity prevailing at the time of the decision. Case-Laws Income Tax Fri, 04 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213539