https://www.taxtmi.com/caselaws?id=55612 Failure to consider a binding Supreme Court ruling directly governing valuation of acquired land under wealth-tax law was treated by the majority as a mistake apparent from the record, justifying rectification of the Tribunal's earlier order. The majority held that the omitted decision applied to the core valuation issue, so the assessment had to be reconsidered in light of that ratio and the miscellaneous application was allowed. The dissenting member considered the Supreme Court ruling inapplicable and found no apparent mistake. The note states that non-application of a binding precedent on the decisive issue can fall within rectification jurisdiction. en-us Sun, 09 Sep 1984 00:00:00 +0530 Mon, 29 Nov 2010 10:08:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55612 Failure to consider a binding Supreme Court ruling directly governing valuation of acquired land under wealth-tax law was treated by the majority as a mistake apparent from the record, justifying rectification of the Tribunal's earlier order. The majority held that the omitted decision applied to the core valuation issue, so the assessment had to be reconsidered in light of that ratio and the miscellaneous application was allowed. The dissenting member considered the Supreme Court ruling inapplicable and found no apparent mistake. The note states that non-application of a binding precedent on the decisive issue can fall within rectification jurisdiction. Case-Laws Wealth-tax Sun, 09 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55612