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2014 (1) TMI 903 - AT - Income TaxRecall of Order – Rectification of mistake apparent on record u/s 254(2) of the Act – Profits arising out of development of properties treated as capital gains – Held that:- The Tribunal was not considering the year in which capital gains actually accrued - it did not accrue during the year because there was no transfer of any rights in immovable property during the year - thus, the addition was deleted by Tribunal - The question of deleting the income offered by the assessee himself was not before the Tribunal, there was no such treatment given by the assessing officer, and hence not decided by the Tribunal - Relying upon State of Andhra Pradesh V/s. CTO and Another [1987 (4) TMI 49 - ANDHRA PRADESH High Court] -the Tribunal is ceased of its jurisdiction over that appeal, except to the limited extent of rectifying any mistake therein in terms of provisions of S.254(2) of the Act. All that the assessee speaks of is about the grievance that it has suffered on account of the consequential orders passed by the Assessing Officer for the year under consideration, while giving effect to the order of this Tribunal dated 7.5.2012 - the grievance of the assessee on account of alleged mistakes in the order, either on account of interpretational differences or even on account of disrespect/disregard to the directions of the Tribunal, shall not vest any power or jurisdiction back with the Tribunal, to oversee the correctness of the correctness of the consequential orders passed, much less, to give directions to revise or rectify the same, even if there is any mistake in the same - In the absence of any specific mistake which warrants any rectification within the scope of the provisions of section 254(2) of the Act – there was no reason to rectify the order – Decided against Assessee.
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