2009 (11) TMI 24 - SC - Income Tax

Rectification u/s 154 of an order passed u/s 264 - Following the judgement of this Court in the case of 2008 TMI - 5620 - SUPREME Court, delivered on 19th September, 1997, the CIT Tax passed an order of rectification dated 30th March, 1998. The only ground on which rectification was sought to be made by the Commissioner of Income Tax was that Power Tariff Subsidy given to the appellant herein was admissible only after commencement of production – held that - the present case is an example of change of opinion - in each case, one has to examine the nature of the subsidy - The judgement of this Court in Sahney Steel and Press Works Limited & Ors. (supra) was on its own facts; so also, the judgement (2008 TMI - 5620 - SUPREME Court) Therefore, the Department has erred in invoking Section 154 of the Act. – rectification order set aside.