2010 (11) TMI 57

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pondent Represented by:Mr. I.P. Singh ADARSH KUMAR GOEL, J. 1. This appeal has been preferred by the assessee under Section 260-A of the Income Tax Act, 1961 (for short, "the Act") against order dated 29.1.2010 of the Income Tax Appellate Tribunal, New Delhi in I.T.A. No.1247/DEL/2009 proposing to raise following substantial questions of law:- "(i) Whether on the facts and in the circu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....artment/Revenue for the assessment year 2003-04 in view of the Order of the Tribunal for the said assessment year having attained finality? (iii) Whether the impugned Order passed by the Tribunal reversing the Order of CIT(A) is not sustainable in view of the applicability of principle of judicial consistency and judicial discipline? (iv) Whether the impugned Order passed by the Tribunal rev....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ication was allowed by the CIT(A), but the Tribunal accepted the plea of the revenue that there was no case for rectification. The finding recorded by the Tribunal is as under:- ".......We also found that in the original appellate order of the CIT(A) has confirmed the addition not only on the basis of creditworthiness but also on the basis of identity as well as genuineness of the transaction, how....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....itself has not been established, there is no reason to apply the proposition of law laid down in the case of Lovely Exports (supra). Under Section 154, only mistake apparent on record can be rectified and the considered decision taken on facts cannot be reversed unless wrong recording of facts are found subsequently. Change in the conclusion amounts to review of the order passed earlier and which ....