2021 (1) TMI 1253

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....by the Tribunal while passing its order on 14/10/2019, as not an allowable expenditure. The ld. Counsel for the assessee submitted that in view of the recent decision of the Hon'ble Jurisdictional High Court in the case of Sesa Goa Ltd., vs. JCIT reported in 107 CCH 0376, in Tax Appeal No.17 & 18 of 2013 dated 28/02/2020, education cess paid by the assessee would be entitled for deduction. The ld. Counsel further pointed out that subsequent decision of the Hon'ble Jurisdictional High Court on a particular issue would become the basis for rectification of an order passed by the Tribunal earlier u/s.254(2) of the Act. 2. The ld. Counsel also pointed out that the Tribunal had placed reliance on the decision of the Hon'ble Supreme Court in the....

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....ion of the Hon'ble Supreme Court in the case of ACIT vs. Saurashtra Kutch Stock Exchange Ltd., reported in 305 ITR 227 to drive home the point that the order of the Tribunal which is contrary to the judgement of the Jurisdictional High court, though rendered after the order passed by the Tribunal, constitutes the mistake apparent from the record. 3. Per contra, the ld. DR vehemently submitted that this decision was rendered subsequent to the decision of this Tribunal and hence, the same would not be eligible for rectification u/s.254(2) of the Act. 4. We have heard rival submissions and perused the materials available on record. It is a fact on record that reliance was placed by the assessee's counsel at the time of original hearing on th....

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....A.Y.2007-08 in its entirety. Accordingly, the order passed by this Tribunal on 14/10/2019 in this regard disposing off the additional ground stands modified. 5. In the result, Miscellaneous Application of the assessee for A.Y.2007-08 is allowed. M.A. No.223/Mum/2020 (A.Y.2008-09) 6. By virtue of this Miscellaneous Application, the assessee submits that the additional grounds raised by the assessee on account of claiming deduction of expenditure in respect of Employee Stock Option Plan (ESOP) and deduction in respect of education cess were not at all adjudicated by this Tribunal while disposing off its appeal. Non-adjudication of additional grounds would constitute mistake apparent on record warranting rectification u/s.254(2) of the Act....