TaxTMI 
TaxTMI 
2022 (9) TMI 43
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....dissatisfied with the judgement dated 30.09.2021 passed in ITAT 129 of 2016 has preferred to file the instant review application owing to an error apparent from the records in an order passed in appeal under section 260A of the Income Tax Act. 2. The fact in a nutshell is that the Hon'ble Court disposed of the appeal of revenue in respect of an order dated August 14, 2015 for the assessment years 2002-03, 2003-04 and 2004-05. Although the revenue's appeal for the assessment year 2005-06 was dismissed as withdrawn on account of low tax effect, however, the facts and circumstances giving rise to the appeal for the assessment year 2002-03 and 2003-04 are as follows: A. The applicant a 100 % Export Oriented Unit bought varieties of teas in b....
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.... a substantial question of law was reformulated after the conclusion of the hearing while preparing the judgement without affording any opportunity to the parties to make submissions on the reformulated question. ii. If given an opportunity, the applicant would have submitted that the reformulated question did not cover within its scope the principal argument that the definition of "manufacture" in section 10B of the Income Tax Act, 1961 prior to its substitution by the Finance Act, 2000 continued to apply even for the purposes of the substituted section. iii. Reference was made to the provisions of the Export & Import policy and to the SEZ Act to submit that the definition of "manufacture" in section 10B of the Act prior to its substit....
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....Court held that the decision in Commisioner of Customs v. Dilip Kumar & Company, (2018) 9 SCC 1, was not applicable in respect of exemption provisions which had a beneficial purpose and that an exemption provision should be liberally constructed in accordance with the object sought to be achieved if such provision was to grant incentive for promoting economic growth or otherwise had some beneficial reason behind it. The provisions of sections 10A and 10B have a beneficial purpose and grant exemption with the object of promoting exports and earning valuable foreign exchange for the country and therefore, the decision of the Hon'ble Supreme Court in Government of Kerela v. Mother Superior Adoration Convent, (2021) 5 SCC 602 is squarely applic....
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....judgment.--(1) Any person considering himself aggrieved- (a) by a decree or order from which an appeal is allowed, but from which no appeal has been preferred, (b) by a decree or order from which no appeal is allowed, or (c) by a decision on a reference from a Court of Small Causes, and who, from the discovery of new and important mater or evidence which, after the exercise of due diligence, was not within his knowledge or could not be produced by him at the time when the decree was passed or order made, or on account of some mistake or error apparent on the face of the record, or for any other sufficient reason, desires to obtain a review of the decree passed or order made against him, may apply for a review of judgment to the court ....