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2019 (7) TMI 362 - AT - Income TaxRectification u/s 254(2) - failure to take cognizance of certain judicial pronouncements - HELD THAT:- We are of the considered view that the non-consideration of the judgment of the Hon’ble jurisdictional High Court and that of a co-ordinate bench of the Tribunal, which were specifically relied upon by the counsel for the assessee during the course of the hearing of the appeal, therein constitutes a mistake apparent from record, which renders the order passed while disposing off the appeal in context of the issue under consideration amenable for rectification under sub-section (2) of Sec. 254. Accordingly, in terms of our aforesaid observations, the order passed by the Tribunal is recalled for the limited purpose of re-adjudicating the “Ground of appeal No. 3” after considering the aforesaid two judicial pronouncements viz. (i) The CIT Vs. M/s Bajaj India Ltd. [2009 (4) TMI 931 - BOMBAY HIGH COURT] ;and (ii) Gulf Oil Corporation Ltd Vs. ACIT [2006 (9) TMI 226 - ITAT HYDERABAD-B] . The miscellaneous application filed by the assessee is allowed and, the registry is directed to re-fix the matter in terms of our aforesaid observations.
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