2012 (5) TMI 845

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....t : Applicant by : None For the Respondent : Mr. Vikramaditya, JCIT ORDER Per Vikas Awasthy, Judicial Member : The Miscellaneous Petition has been moved by the applicant/assessee under section 254(2) of the Income Tax Act, 1961 against the order of the Tribunal dated 14th March, 2012, wherein the appeal of the assessee was dismissed. The Misc. Petition has been filed by the applicant o....

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....plication filed by the assessee is nothing but a review petition. 4. We have examined the contents of the Miscellaneous Petition. In the garb of rectification of mistake, the applicant is praying for recalling of the order and remanding the matter for deciding afresh. The assessee had relied upon certain documents which he wanted to place on record before the Tribunal at the time of final adjud....

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....s AIR 1996 SC 1599. We have gone through the said judgment of the Hon'ble Supreme Court of India. The facts of the case relied upon by the applicant are entirely different from the case under consideration. Therefore, the judgement relied upon by the applicant does not come to his rescue. It is evident from the order of the Tribunal dated 14.03.2012 that the contention advanced on behalf of the as....

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....TR 50 (SC) have held that the power of rectification is permissible only in respect of glaring, obvious and patent mistakes and not something which can be established by a long-drawn process of reasoning on the points on which there may conceivably be two opinions and that a decision on a debatable point of law is not a mistake apparent from record. This principle has been reiterated by the Hon'bl....