Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (12) TMI 1007 - AT - Income TaxRectification of mistake u/s 254 - mistake apparent from record - non-consideration of the decision of jurisdictional High Court or of Supreme Court - submitted that ground raised by the assessee challenging the non-issuance of notice under 143(2) was not adjudicated by the coordinate bench of the Tribunal - HELD THAT:- We find that the Hon’ble Supreme Court in NTPC [1996 (12) TMI 7 - SUPREME COURT] held that legal issue can be raised for the first time before the Tribunal, so long as the relevant facts are on record in the assessment proceedings for that issue. It is evident that the aforesaid decision of the Hon’ble Supreme Court was not taken into consideration by the coordinate bench while rendering decision in respect of ground No. 1 raised by the assessee. In ACIT vs Saurashtra Kutch Stock Exchange Ltd.[2008 (9) TMI 11 - SUPREME COURT] held that non-consideration of the decision of jurisdictional High Court or of Supreme Court can be said to be a ‘mistake apparent from record’, which could be rectified under section 254(2) - Therefore, respectfully following the aforesaid decision in Saurashtra Kutch Stock Exchange Ltd. (supra), we deem it appropriate to recall the findings rendered by the coordinate bench of the Tribunal, in respect of ground No. 1, in the exercise of the power conferred under section 254(2) of the Act. Miscellaneous Applications by the assessee are allowed.
|