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2004 (11) TMI 78 - HC - Income TaxReview vis-avis rectification - "Whether Tribunal was justified in dismissing the application under section 254(2) on the ground that it was virtually a review application?" - Tribunal has upheld the disallowance of the amount of interest in question on the ground that the advances were made by the applicant for non-business purpose. The reference application filed u/s 256(1) in respect of the correctness of the aforesaid finding has already been rejected by the Tribunal, which order, has become final between the parties. The Tribunal having dealt with the matter in one way or the other, it cannot be said that on the basis of the decision rendered by the Madhya Pradesh High Court in the case of D and H Secheron Electrodes Pvt. Ltd. v. any mistake which is apparent on the record, has crept in the Tribunal's order. The Tribunal was justified in holding that there was no error apparent on the record in its order and, in fact, it was a case of review. - We answer the question referred to us in the affirmative, i.e, in favour of the Revenue and against the assessee.
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