9911796707
TMI Blog2013 (6) TMI 573X X X X Extracts X X X X X X X X Extracts X X X X ..... ed that the computation of income/loss by the Assessing Officer(AO)was contrary to the provisions of Income-tax Act, that the assesses has maintained and submitted a consolidated Income and expenditure account that the AO misdirected himself in law in attributing the entire expenditure against the so-called exempt income and assessing interest income on gross basis without deduction of any expenditure that provisions of section 14A required and laid down specific method of attributing and disallowing the expenses in relation to an exempt income, that the above principal submission made on behalf of the Appellant during the course of hearing had neither been mentioned nor had been considered in the order of the Tribunal, that it was a mistak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the submissions it was mentioned that DR submitted that section 14A was not applicable. Thus we had taken note of the submissions made by the assessee and the DR with regard to section 14 A of the Act. After considering the submissions of both the parties we had arrived at some conclusion. In our opinion such conclusion cannot be termed mistake apparent from record.It is not the case of the assessee that we have not considered any judgment delivered by the Hon'ble jurisdictional High Court or Supreme Court relied by the assessee. Thus, on this count also no mistake is apparent from the record as envisaged by the section 245(2)of the Act. 2.2.In our humble opinion mistake apparent from record as per the provisions of section 254(2) has a s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s vitiated on the ground that the Tribunal failed to discuss all the contentions raised by counsel before it and to give reasons for coming to the conclusion which it did. If assessee finds an order defective on this ground, the remedy lay else where and not by way of a Miscellaneous Application. In our opinion, Tribunal is a creature of the statute and it is not been vested with the review jurisdiction. In other words it does not have any power to review its orders. What assessee desires in the case under consideration, is review of the order passed on 16. 11.2012.As per the Hon'ble Mumbai High Court the power of rectification available to the Tribunal u/s.254(2) of the Act cannot be exercised on failure of the Tribunal to consider an argu ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
