2009 (2) TMI 72

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....livered by JUSTICE D. A. MEHTA - Income-tax Appellate Tribunal, Ahmedabad Bench 'B' has referred the following three questions under Section 256(2) of the Income-tax Act, 1962 (the Act) at the instance of Commissioner of Income-tax: "Whether, the appellate Tribunal is right in law and in facts in entertaining Misc. Application for re-calling the earlier order?" "Whether, the appellate Tribunal ....

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....The Tribunal, for the reasons recorded in order dated 27.06.1995, allowed the appeal of the revenue. 3. The assessee filed a Misc. Application before the Tribunal praying for recalling of the order and fresh adjudication after considering all the facts and material on record. The said Misc. Application came to be allowed by the Tribunal vide order dated 18.03.1996. The material part of the said o....

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....earned counsel for the assessee has cited some decisions in its support and has prayed that the Tribunal's order deserves to be recalled for fresh adjudication after considering all the facts and material evidence on record in proper perspective. 5. The learned D.R. On the other hand has submitted that the Tribunal has decided the issue on proper appreciation of facts and material available on re....

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....ht of the fact that the controversy now stands concluded by a decision of this High Court rendered in case of Assistant Commissioner of Income-tax Vs. Saurashtra Kutch Stock Exchange Ltd., [2003] 262 ITR 146 (Guj.) which has since been affirmed by the Apex Court as reported in [2008] 305 ITR 227. If the Tribunal has committed an inadvertent error which results in injustice to one or the other side....