2007 (12) TMI 107

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....questioning the order passed by the Tribunal, Bangalore Bench in Misc. Petition No. 122/ Bang/1999 dated July 31, 2003, raising the following substantial question of law  "(1) Whether the Tribunal has power to rectify the order passed on the merits in an appeal filed by the assessee four years thereafter invoking section 254(2) of the Income-tax Act, 1961 ?" 2 We have heard learned counsel ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... allowing the appeal of the Revenue. This order is called in question in this appeal. 4. According to Mr. Shankar, the Tribunal has committed a serious error in 4 allowing the miscellaneous petition filed by the Revenue which was filed beyond 4 years. According to him under sub-section (2) of section 254 a rectification order can be passed by the Tribunal within 4 years from the passing of the or....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tion unless the Appellate Tribunal has given notice to the assessee of its intention to do so and has allowed the assessee a reasonable opportunity of being heard." 6 It is clear from sub-section (2) of section 254 of the Income-tax Act that the Tribunal has powers to pass an order within 4 years either to rectify any mistake apparent from the record or amend any order passed by it under sub-sect....