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2015 (3) TMI 1234 - HC - Income TaxRevision u/s 263 - interpretation of the term 'record' appearing in section 263 - Held that:- Section 154 of the Act as is well-known is in the nature of power of rectification of mistake. Sub-section (1) thereof clothes the Income-tax authority with a view to rectifying any mistake apparent from the record the power to amend any order passed under the Act, amend any intimation or deemed intimation under section 143(1) or amend any intimation under sub-section (1) of section 200A. The term 'record', therefore has to be seen in the context of the nature of the statutory provision and the power it aims to cloth the Assessing Officer. As noted, the power is for rectification of any mistake apparent from the record. Such powers are not in the nature of review or revision and can be exercised only for correction of a mistake which is apparent from the record. In this context, therefore, the term 'record' has to be understood as record of the case before the Assessing Officer. Obviously, reference to the mistake apparent from the record cannot have relation to some other record extraneous to the assessment proceedings. This provision, therefore, has an entirely different context where the term 'record' has been used and it does not include any explanation as was inserted in section 263(1) with a historical background noted by the Supreme Court in the case of Shree Manjunathesware Packing Products Camphor Works (1997 (12) TMI 4 - SUPREME Court ). Significantly, the explanation was added for all purposes to have been included from the beginning. The decisions relied upon in the context of the term 'record' used in section 154 of the Act, therefore, would render no further help on the controversy on the hand. - Decided against assessee
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