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2014 (12) TMI 507 - AT - Income TaxMiscellaneous application – Permissibility of review - Held that:- The guidelines of RBI binding on the bank and it is stated that the mistake apparent on record may be rectified and order may be amended - Section 254(2) provides that the Tribunal may with a view to rectify any mistake apparent from record amend any order passed by it under subsection (1) and shall make such amendment - the Tribunal has no power to review their own orders passed on merits – relying upon CIT vs. Anamika Builders Pvt. Ltd. [2001 (5) TMI 39 - CALCUTTA High Court] - the Tribunal should not change its view already taken in the matter - the mistake must be so obvious that it can be easily corrected to wit any arithmetical mistake, wrong quotation of section etc. and not on debatable issues - the Tribunal has no power to review their own orders already passed on merits - There could not be any reconsideration of facts while exercising jurisdiction u/s. 254(2) of the IT Act - Since the appeal of the assessee has been decided on merits, considering the material and evidences on record in the light of submissions of the parties, therefore, review of the judgment is not permissible – Decided against assessee.
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