TMI Blog2013 (12) TMI 73X X X X Extracts X X X X X X X X Extracts X X X X ..... t its mistakes. If a particular case has been decided incorrectly or some error has crept in, which does not require any debate and such error is apparent on the face of the record, such mistake can be corrected in exercise of power under Section 254 (2) of the Act - Decided in favour of revenue. - Income Tax Appeal No. - 147 of 2001 - - - Dated:- 12-11-2013 - Hon'ble Sunil Ambwani And Hon'ble ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... explained credit under Section 68 of the Act in the income of the assessee. An application dated 31.5.2000 was filed for rectification on the ground that the identity of the persons, who had contributed to the share capital was not in dispute and that in any case even if they were not genuine, in view of CIT v. Stellar Investment Ltd. decided by Delhi High Court against which special leave to ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red to reverse its own decision passed on merits earlier?" Shri R.K. Upadhyay submits that in Biswanath Prasad and sons v. Commissioner of Income Tax, (2005) 277 ITR 265 (All) this Court has after considering the judgment of Supreme Court in Kuntesh Gupta (Smt.) (Dr.) v. Management of Hindu Kanya Mahavidyalaya Sitapur, AIR 1987 SC 2186; Patel Narshi Thakershi v. Pradyumansinghji Arjunsinghji, AI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Supreme Court, which covers the issue is also a mistake, which is apparent on the face of the record, and which may be corrected under section 154 of the Act. In Bindal Industries Ltd. (Supra) there was no discussion on the point. The opinion of the Court was expressed on the concession of counsel appearing for the income tax department. In the present case apart from the fact that the issu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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