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2023 (1) TMI 1262 - AT - Income TaxRectification u/s 254(2) - whats apparent mistake rectifiable? - HELD THAT:- We find that Hon’ble Delhi High Court in the case of Ras Bihari Bansal [2007 (4) TMI 47 - HIGH COURT, NEW DELHI] has held that an oversight of a fact cannot constitute an apparent mistake rectifiable u/s. 254(2) of the Act. It has further held that failure of the Tribunal to consider the argument advanced by either party for arriving at a conclusion, is not an error apparent from record, although it may be an error of judgment. In the grab of an application for rectification it is not permissible to the parties to reopen and reargue the whole matter. We further find in the case of P.T. Manuel & Sons [2021 (3) TMI 435 - KERALA HIGH COURT] has held that the power of rectification is not akin to that an appeal or even a review and that merely because there is wrong or erroneous order or wrong appreciation of facts the same cannot be grounds for rectification though they could be grounds for appeal. The Hon’ble Apex Court in the case of CIT vs Reliance Telecom Ltd. [2021 (12) TMI 211 - SUPREME COURT] has held that while considering the application u/s. 254(2), Tribunal is not required to revisit its earlier order and to go into detail on merits. The power u/s. 254(2) are only to rectify/correct any mistake apparent from the record. It has further held that if the order passed by the Tribunal was erroneous on merits, in that case the remedy available to the assessee was to prefer an appeal before the High Court. Since the assessee has failed to point out any mistake apparent from record as contemplated u/s. 254(2) of the Act, we are not inclined to recall the order and thus the miscellaneous application of the assessee dismissed.
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