Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (8) TMI 1860 - AT - Income TaxRectification u/s 254 - whether assessee cannot be treated as a co-operative society meant only for its members and providing credit facilities to its members and hence they are not entitled to the benefit of section 80P(2)(A)(i) - HELD THAT:- From the various judgements of the Supreme Court and other High Courts, it is clear, that the Tribunal’s power u/s. 254(2) is not to review its earlier order, but only to amend it with a view to rectify any mistake apparent from the record. An error apparent on the record means an error which strikes one on mere looking and does not need a long drawn out process of reasoning on points on which there may be conceivably two opinions. The error should not require any extraneous matter to show its incorrectness. If the view accepted by the Tribunal in the impugned orders are one of possible views, these cases cannot be said to be covered by an error apparent on the face of the record. Since the assessee are not able to exactly point out the mistake apparent from the record the MP filed by them are dismissed. Miscellaneous Petitions filed by the assessee are dismissed.
|