https://www.taxtmi.com/caselaws?id=369624 The Tribunal dismissed the assessee's Misc. Application seeking recall and rectification of the order regarding speculation loss. The Tribunal reiterated that rectification under section 254 of the Income Tax Act is limited to correcting obvious mistakes and cannot be used to revisit the entire decision. Emphasizing that the issues raised had already been thoroughly examined and decided upon, the Tribunal upheld its original order, underscoring the principle that finalized orders cannot be continuously reviewed. The judgment stressed the importance of adhering to legal principles and procedural limitations in seeking rectification under the Income Tax Act. en-us Thu, 25 Oct 2018 00:00:00 +0530 Wed, 31 Oct 2018 10:43:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369624 The Tribunal dismissed the assessee's Misc. Application seeking recall and rectification of the order regarding speculation loss. The Tribunal reiterated that rectification under section 254 of the Income Tax Act is limited to correcting obvious mistakes and cannot be used to revisit the entire decision. Emphasizing that the issues raised had already been thoroughly examined and decided upon, the Tribunal upheld its original order, underscoring the principle that finalized orders cannot be continuously reviewed. The judgment stressed the importance of adhering to legal principles and procedural limitations in seeking rectification under the Income Tax Act. Case-Laws Income Tax Thu, 25 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369624