2008 (10) TMI 124

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....nt of the court was delivered by BADAR DURREZ AHMED, J (ORAL). - These three appeals arise out of the common order dated 15.02.2008 passed by the Income-tax Appellate Tribunal under section 254(2) of the Income-tax Act, 1961 (hereinafter referred to as "the said Act") in respect of miscellaneous application Nos. 611, 612 and 613/Del/2006. The rectification applications had been filed by the ass....

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....decision in the case of Commissioner of Income-tax, Karnataka, Bangalore v. M/s Shaan Finance Pvt. Ltd. [1998] 231 ITR 308 while passing the said order dated 31.08.2005. The tribunal, in the impugned order, noted that the said decision of the Supreme Court in the case of Shaan Finance Pvt Ltd. [1998] 231 ITR 308 had been referred to. However, inadvertently the same remained to be considered by the....

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.... well-settled that non-consideration by the tribunal of a judgment of the Supreme Court relevant to the point in issue would give rise to a mistake apparent from the record which can be rectified under section 254(2) of the said Act. Consequently, the tribunal recalled its earlier order dated 31.08.2005 passed in respect of all the three years in question. However, it clarified that it had not exp....

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....ration of a decision of Jurisdictional Court (in this case a decision of the High Court of Gujarat) or of the Supreme Court can be said to be a "mistake apparent from the record"?  In our opinion, both - the Tribunal and the High Court - were right in holding that such a mistake can be said to be a "mistake apparent from the record" which could be rectified under section 254(2)." The Su....