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2014 (1) TMI 1781 - AT - Income TaxRectification of mistake - wrong computation of deduction of section 10B - Tribunal did not consider the decision of the jurisdictional High Court in the case of Galaxy Granites (P) Ltd. Vs. CIT (2012 (9) TMI 68 - MADRAS HIGH COURT ) as submitted by the Departmental Representative - Held that:- The Hon’ble Supreme Court in the case of ACIT Vs. Saurashtra Kutch Stock Exchange Ltd. (2008 (9) TMI 11 - SUPREME COURT ) has held that failure to apply judgement of jurisdictional High Court is a mistake apparent on record and the Tribunal has jurisdiction to rectify under section 254(2) of the Act. Keeping in view the decision of the Hon’ble Apex Court, we recall our order passed for the assessment year 2008-09 to decide it afresh after hearing both the parties. Therefore, the impugned order is recalled and the appeal is restored for the limited purpose of disposing of ground no.3.
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