INCOME TAX ACT, 1961

Section 254(2)

Appeal (Tribunal) - Rectification under section 254(2) - Tribunal failed to consider decisions relied upon by assessee - Mistake apparent

Assessee filed miscellaneous application seeking rectification of an order passed by Tribunal. It was submitted on behalf of the assessee that during the course of hearing before the Tribunal, the assessee relied heavily on some decisions and such decisions were not taken into consideration by the Tribunal while disposing the appeal. Therefore, the rectification should be made under section 254(2). Revenue contended that as the appeal had been disposed of on merit by a speaking order; there being no mistake apparent from record, the instant miscellaneous application should be dismissed. Held: During the course of hearing before Tribunal, the assessee relied upon some decisions, however, inadvertently, while passing the order, the Tribunal missed the said decisions. Not considering the said decisions by the Tribunal though it was cited before it, was a mistake apparent from record. Accordingly, the order of the Tribunal was recalled to the limited extent of examining the application of such decisions to the instant case.

REFERRED : Honda Siel Power Products Ltd. v. CIT (2007) 165 Taxman 307 (SC) : 2007 TaxPub(DT) 1553 (SC) CIT v. M/s. Elde Electricals Agencies (P) Ltd. 2015 TaxPub(DT) 2691 (Bom-HC) M/s. Lotus Investments Ltd. v. ACIT (2019) 55 CCH 0184 (Mum-Trib.) : 2019 TaxPub(DT) 1768 (Mum-Trib).

FAVOUR : In assessee's favour

A.Y. :

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