2015 (9) TMI 1574

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.... For the Respondent : R. K. Gupta, AR ORDER T. R. Meena (Accountant Member) In this assessee's case this Bench has decided various issues in ITA NO.358/ASR/2012 for assessment year 2009-10 and in cross appeals vide order dated 31-05-2013. The assessee filed Misc. Application against this order, praying for rectification of the said order u/s 254(2) of the Income Tax Act, 1961 ('the Act')....

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....her, neither the Authorized Representative nor the Departmental Representative have brought to the knowledge of Hon'ble Bench the fate of the decision on a similar issue in the case of Deputy Commissioner of Income Tax, Circle-2 Jammu & Jamkash Vehicleades Pvt. Ltd. In which Revenue was in appeal before the Hon'ble High Court of Jammu & Kashmi9r against the order of the Hon'ble ITAT (this is a cas....

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....High Court which decision is binding because it is a decision of jurisdictional High Court and jurisdictional High Court has upheld the decision of the Hon'ble ITAT. The decision of the Hon'ble ITAT in this case was that if expenditure has already been paid during the year and is not payable at the year then the provisions of sec 40(a)(ia) of the Income Tax Act, 1961 are not applicable. In this ca....

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....er argued that the Hon'ble Supreme Court has held in the case of ACIT Vs. Saurashtra Kutch Stock Exchange Ltd., 262 ITR 146 (Guj) that non-consideration of the decision of the Hon'ble Jurisdictional High court [or the Hon'ble Supreme Court) is a mistake apparent on record is rectifiable u/s. 254(2) of the Act. The decision of the Hon'ble High Court on the point rendered a few months prior to havin....