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TMI Blog2014 (7) TMI 413X X X X Extracts X X X X X X X X Extracts X X X X ..... ; Per R. C. Sharma, AM : This miscellaneous application is filed by the assessee under Section 254(2) of the I.T. Act, arising out of the order of the Tribunal passed in ITA No.4106/Mum/2012 along with C.O.No.202/2009, dated 3-2-2012. 2. Shri Rajan R. Vora, appeared on behalf of the assessee and contended that the Tribunal vide its order dated 3-2-2012 disposed of the Revenue's appeal as well a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... :- "the assessee himself taken the ground, no specific arguments were advanced before us. In any case, once the assessee has himself accepted this payment as goodwill simplicitor, there cannot be any good reason to uphold the admissibility of depreciation thereon. We, therefore, reject the grievance of the assessee as well." As per learned AR, the issue with regard to allowability of depreciati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ning of Section 254(2) of the Act. 4. We have considered rival contentions, gone through the miscellaneous application filed by the assessee as well as order of the Tribunal. We found that the Tribunal vide its order dated 3-2-2012 disposed of the Revenue's appeal in ITA No.4106/Mum/2007 and Cross Objection filed by the assessee bearing CO No.202/Mum/2009. In the cross objection, grounds No.6 & 7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee's favour, therefore, the contrary decision taken by the Tribunal amounts to mistake apparent from record, in view of decision of Hon'ble Supreme Court in the case of Saurashtra Kutch Stock Exchange Ltd.(supra). Accordingly, we recall this ground of cross objection also for deciding afresh. The Registry is directed to issue notice to both the parties and fix the case for hearing on 7th July, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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