2008 (9) TMI 194

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....appeal under section 260A of the Income-tax Act, 1961 (for short "the Act"), against the order of the Income-tax Appellate Tribunal, Chandigarh Bench, in I. T. A. No. 1356/Chd/1993 for the assessment year 1990-91 dated March 21, 2007, seeking to raise following substantial questions of law: "(i) Whether the Tribunal is justified in rejecting the pleadings for want of evidence which is in disreg....

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....hether the Tribunal's order is sustainable being inapposite to the accepted trade practice and material on record?" 3. During the assessment, the Assessing Officer found from the balance-sheet that there was entry of trade creditors. The assessee was required to give intimation with regard to the said entry with a view to ascertain the identity of the creditors and genuineness of the entry. Fin....

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....reme Court in Honda Siel Power Products Ltd. v. CIT [2007] 295 ITR 466; 165 Taxman 307, wherein it was observed that no one should suffer for the mistake of the Tribunal. In that case, the Tribunal by oversight missed out a judgment which was directly on the point. 5. We do not find any merit in the contention raised. 6. The scope of rectification is confined to correction of mistake apparen....