2021 (8) TMI 1085

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..... Subharwal, Adv. For the Revenue : Shri M. Baranwal, Sr. D.R. ORDER PER ANIL CHATURVEDI, AM: The present Miscellaneous Application (MA) is filed by the Revenue u/s 254(2) of the Income tax Act, 1961 [for short, 'the Act'] against the order of the Tribunal dated 19.10.2016 in respect of ITA No.1713/Del/2016 for A.Y. 2010-11. 2. Before us, Learned DR took us through the MA fi....

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....cord. 3. Learned AR on the other hand at the outset, submitted that the MA filed by the Revenue is barred by limitation and therefore at the outset, it should be dismissed. He submitted that the Tribunal has passed an order on 19.10.2016 and MA has been filed by the Department on 24.05.2017. He submitted that as per the provisions of Section 254(2) of the Act, Revenue was required to file the M....

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....form of inventory of Stock & Cash found during the course of survey which has escaped the notice of Tribunal while passing the order. It is a settled law that power of rectification u/s 254(2) of the Act can be exercised only when the mistake which is sought to be rectified is an obvious and patent mistake which is apparent from record and not a mistake which requires to be established by argument....

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....dvanced by either party for arriving at a conclusion, is not an error apparent on the record, although it may be an error of judgment. It has further held that in the grab of an application for rectification it is not permissible to the parties to reopen and reargue the whole matter. Hon'ble Kerala High Court in the case of P.T. Manuel and Sons (2021) 434 ITR 416 has held that the power of rectifi....