2011 (7) TMI 763

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....NT Ravi Malimath, J - This appeal is by the assessee being aggrieved by the order of the Tribunal holding that the order of CIT (Appeals) is rectifiable under Section 154 of the Act and thereby dismissed the appeal. 2. The appellant company is engaged in financial services. It filed its return of income for the assessment year 2005-06 on 26.10 2005 declaring nil income. However, the book profi....

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....ed. Aggrieved by the same, the revenue preferred an appeal before the Tribunal, wherein the Tribunal dismissed the same on the ground that the permission of the COD was not obtained. Subsequently, the revenue preferred an application under Section 154 of the Income Tax Act before the Commissioner of Income Tax (Appeals) stating that the decision of the jurisdictional High Court in the case of Jind....

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....rectification when the earlier proceedings stood concluded. 5. The Tribunal while passing the impugned order held that the revenue's earlier appeal was dismissed not on merits but only on the ground of not obtaining COD permission. Hence that by itself cannot bind the revenue from filing an application under Section 154 of the IT Act for rectification of a mistake, which is apparent on the face o....