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2014 (7) TMI 711 - AT - Income TaxPower of Tribunal to review own order – Held that:- The Appellate Tribunal does not have any power to review its own orders under the provisions of the Act - The decision in NH. Securities Ltd. Versus Dy. Commissioner of Income Tax [1992 (11) TMI 32 - BOMBAY High Court] followed - Failure of the Tribunal to consider an argument advanced by either party for arriving at a conclusion is not an error apparent on the record, although it may be an error of judgment - Tribunal cannot, in the exercise of its power of rectification, look into some other circumstances which would support or not support its conclusion – Decided against Assessee.
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