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2014 (2) TMI 1262 - AT - Income TaxApplicability of sec.115JB on assessee bank - Held that:- Admittedly, the assessee has not challenged this issue in an earlier occasion before the Tribunal and stated that the assessee did not want to press the ground. After hearing both the parties, the Tribunal dismissed the ground raised by the assessee as not pressed. It means that the Tribunal adjudicated the ground and thereafter, the AO passed impugned consequential order, which is in consonance with the order of the Tribunal. Now, the assessee’s counsel wanted to re-argue the case, which is not permissible, as unless and until the earlier order of the Tribunal dated 19th March, 2010 is disturbed by any process of law. Therefore, the assessee is not at all at liberty to challenge the finding of the Tribunal in the second round of litigation by way of rearguing the issue, which has already been adjudicated by the Tribunal in an earlier occasion. It is a settled law that the Tribunal has no power to review its own order and, therefore, if the assessee wants to agitate the issue, which has already been decided by the Tribunal, the Tribunal has no power and remedy lies elsewhere. The case law relied upon by the AR in the case of Indian Oil Corporation Ltd. (1986 (8) TMI 57 - SUPREME Court) is nothing to do with the present case as it was delivered on different set of facts. - Decided against assessee.
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