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2013 (6) TMI 573 - AT - Income TaxRectification of mistake - as per assessee Tribunal had not considered submission of assessee that AO misdirected himself in law in attributing the entire expenditure against the so-called exempt income and assessing interest income on gross basis without deduction of any expenditure that provisions of section 14A required and laid down specific method of attributing and disallowing the expenses in relation to an exempt income - Held that:- Considering assessee's submission and DR statement section 14A was not applicable Tribunal's conclusion to restore the matter back to the file of the AO for deciding upon mutual as well as non-mutual activities cannot be termed mistake apparent from record. It is not the case of the assessee that any judgment delivered by the Hon'ble jurisdictional High Court or Supreme Court relied by the assessee have not been considered. By a long drawn process of reasoning assessee wants to review the order of 16th November, 2012 which is not permissible as per the provisions of section 254(2). Rectification available to the Tribunal u/s.254(2) cannot be exercised on failure of the Tribunal to consider an argument advanced by either party for arriving at a conclusion because it is an error of judgment and not an error apparent on the record. See CIT Versus Ramesh Electric And Trading Co. [1992 (11) TMI 32 - BOMBAY High Court] & CIT Versus EARNEST EXPORTS LTD. [2010 (2) TMI 261 - BOMBAY HIGH COURT]. Against assessee.
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