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2023 (3) TMI 39 - AT - Income TaxRectification u/s 254 - Delayed payment of employee’s contribution to ESI and PF - non-consideration of the decision of the jurisdictional high court/Supreme Court - Payment beyond the due date as prescribed under the relevant law relating to ESI and PF for deposit of employees share of contribution - HELD THAT:- We are of the view that the Hon’ble Supreme Court in the case of CIT Vs. Saurashtra Kutch Stock Exchange case [2008 (9) TMI 11 - SUPREME COURT] has held that non-consideration of the decision of the jurisdictional high court/Supreme Court constitutes mistake apparent from record and is rectifiable within the meaning of section 254(2) of the Act Article 141 of the Constitution of India provides that the law declared by Supreme Court shall be binding on all courts within the territory of India. The law laid down by Supreme Court operates retrospectively and is deemed to the law as it has always been unless, the Supreme Court, says that its ruling will only operate prospectively. There is a mistake apparent on record in view of the decision of the Hon’ble Supreme Court in the case of Checkmate Services Pvt. Ltd. [2022 (10) TMI 617 - SUPREME COURT] though rendered subsequent to the order passed by the Tribunal and has to be rectified by holding that the disallowance made by the revenue authorities u/s.36(1)(va) of the Act was justified. The orders of the Tribunal will stand modified/rectified accordingly. MP stands allowed.
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