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2015 (5) TMI 577 - AT - Income TaxRectification of error - order was pronounced beyond the period of 60 days - Held that:- Merely because, there is a delay due to some exceptional circumstances, would not render the decision of the Tribunal as illegal or void. The contention of the Ld. Counsel that since the order was pronounced beyond the period of 60 days from the date of hearing and hence, the same was barred by limitation has no force and as such is not tenable. We may point out here that the function of ‘pronouncement or orders’ is not like of a nature such as an ‘actionable legal claim’ which if not claimed within the period of 60 days or 90 days, can be said to have been barred by limitation. Further such a contention that the order was pronounced beyond the period of 60 days can not validly be raised in a petition u/s 254 of the Act, as the same can not be said to be an error apparent on record. If the assessee has any grievance against the impugned order, proper course to agitate the same is by filing an appeal before the next appellate authority but not with the present application under section 254(2) of the Income Tax Act. The Hon’ble Bombay High Court in the case of ‘Commissioner Of Income-Tax vs Ramesh Electric And Trading Co.’ 1993 (1992 (11) TMI 32 - BOMBAY High Court), while relying upon the decision of ‘T. S. Balaram, ITO v. Volkart Brothers’ [1971 (8) TMI 3 - SUPREME Court] and further relying upon the decisions of the various High Courts has categorically held that the power of rectification under section 254(2) of the Income-tax Act can be exercised only when the mistake which is sought to be rectified is an obvious and patent mistake which is apparent from the record, and not a mistake which requires to be established by arguments and a long drawn process of reasoning on points on which there may conceivably be two opinions. Failure by the Tribunal to consider an argument advanced by either party for arriving at a conclusion is not an error apparent on the record, although it may be an error of judgment and under such circumstances the Tribunal has no jurisdiction under section 254(2) to pass the second order. - Decided against assessee.
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