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Shailesh C. Mehta Versus Income Tax Officer

Review and rectification of order - Held that:- In view of the observations made by the Honourable Apex Court in Assistant Commissioner of Income-Tax v. Saurashtra Kutch Stock Exchange Ltd. (2008 (9)11 - SUPREME COURT ), in our opinion, the Tribunal has the power to review its own order and rectify the error committed by it. We, therefore, set aside the impugned order passed by the Tribunal and remit the matter back to the Tribunal to hear the Miscellaneous Application afresh and decide the same .....

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d the order of the Income Tax Appellate Tribunal, Rajkot Bench, (For short, the Tribunal ) in M.A.No.12/RJT/05 arising out of ITA No.4073/Ahd/95 dated 12.5.2005, whereby the review preferred by the assessee was dismissed. 2. At the time of admitting this Appeal, following question of law was framed:- (i) Whether in the facts and circumstances of the case the order of the Income Tax Appellate Tribunal was perverse in as much as firstly it failed to adjudicate upon the part of Ground No.2 challeng .....

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. reported in [2008] 305 ITR 227 (SC), wherein it is observed as under:- 45. Rectification of an order stems from the fundamental principle that justice is above all. It is exercised to remove the error and to disturb the finality. 46. In S. Nagaraj & Ors. v. State of Karnataka, 1993 Supp (4) SCC, Sahai, J. stated; "Justice is a virtue which transcends all barriers. Neither the rules of procedure nor technicalities of law can stand in its way. The order of the Court should not be prejud .....

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e then it cannot on any principle be precluded from rectifying the error. Mistake is accepted as valid reason to recall an order. Difference lies in the nature of mistake and scope of rectification, depending on if it is of fact or law. But the root from which the power flows is the anxiety to avoid injustice. It is either statutory or inherent. The latter is available where the mistake is of the Court. In Administrative Law, the scope is still wider. Technicalities apart if the Court is satisfi .....

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