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2013 (12) TMI 427 - HC - Income TaxWhether Tribunal can review its own order - Held that:- From the decisions of various judgements delivered by the Supreme court as well as High Court it can be concluded that It is well settled that the power to review is not an inherent power. It must be conferred by law either specifically or by necessary implication - A review proceeding cannot be equated with the original hearing of the case, and the finality of the judgment delivered by the Court will not be reconsidered except 'where a glaring omission or patent mistake or like grave error has crept in earlier by judicial fallibility - The power of review may be exercised on the discovery of new and important matter or evidence which, after the exercise of due diligence was not within the knowledge of the person seeking the review or could not be produced by him at the time when the order was made - It may be exercised where some mistake or error apparent on the face of the record is found; it may also be exercised on any analogous ground - It may not be exercised on the ground that the decision was erroneous on merits. That would be the province of a Court of appeal. A power of review is not be confused with appellate power which may enable an Appellate Court to correct all manner of errors committed by the subordinate Court. Following Lily Thomas, etc. etc. v. Union of India and others [2000 (5) TMI 1045 - SUPREME COURT] - Possibility of two views on the same subject is no ground to review the earlier judgment passed by a Bench of the same strength. Following CIT v. Mool Chand Shyam Lal [2004 (7) TMI 42 - ALLAHABAD High Court] - The Tribunal does not have power to review its judgment under Section 254(2) of the Act, which authorises the Tribunal to only correct its mistakes - ITAT has committed grave error of law to recall the order dated 30.6.1998 by the impugned order dated 14.2.2000 passed under section 254(2) of the Act - Decided in favour of Revenue.
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