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TMI Blog2017 (3) TMI 661X X X X Extracts X X X X X X X X Extracts X X X X ..... aning of Section 254(2) of the Act. 2. The issue in the instant case relates to the disallowance of the deduction claimed by the assessee for Rs. 50 lakh for the lease rentals paid for the vehicle taken on finance lease. The same disallowance was confirmed by the ld. CIT(A) and Hon'ble ITAT after having reliance in the own case of the assessee for the AY 2003-04 in ITA No. 1075/Kol/2009 wherein the Hon'ble ITAT decided the issue in favour of Revenue. 3. The ld. AR before us submitted that the principles laid down by the Hon'ble Supreme Court in the case of I.C.D.S. Vs CIT reported in 350 ITR 527 (SC) were brought to the notice of Hon'ble ITAT at the time of hearing for consideration. Similarly various clauses of lease agreements were also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stake apparent from record as discussed above by allowing the deduction of the rentals paid on the vehicles taken on finance lease. On the other hand, learned counsel for the Revenue, besides supporting the order passed by the Tribunal, submitted that the application filed by the assessee u/s. 254(2) of the Act, if allowed, would amount to review of the order which is not permissible. The ld. DR further submitted that the Hon'ble Supreme Court in the case Mysore Mineral Limited Vs. CIT reported in 239 ITR 775 (SC) has directed to allow the depreciation to the assessee on the building though the building was not registered in the name of the assessee. In the case of Mysore Minerals Limited (supra) the Hon'ble Supreme Court has observed as u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the judgment of Hon'ble Supreme Court, can be decided keeping in view the law laid down by the Hon'ble High Courts in the country which hold the field. 5.1 Applying the above principles in the facts on hand, we find that there are other judgments of Hon'ble Supreme Court which are in favour of the Revenue in the given facts and circumstances. These cases have been discussed in the preceding paragraph and the same are not repeated here for the sake of brevity. In view of above, we find that the instant issue is debatable. 5.2 Further, we find it is well settled that statutory authority exercise power of review unless such power is expressly conferred. There is no express power of review conferred on this Tribunal. Even ot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... what had been decided by the CIT in the earlier proceedings, a different and contradictory stand should have been taken. We are, therefore, of the view that these appeals should be allowed and the question should be answered in the affirmative, namely, that the Tribunal was justified in holding that the income derived by the Radhasoami Satsang was entitled to exemption under ss. 11 and 12 of the IT Act of 1961." All the facts in the instant case were same as of earlier years and the view with regard to the issue in those facts has already been taken up by this Tribunal which is in favour of Revenue. Therefore, we are of the view that there is no mistake apparent from the record which has crept in the order of Hon'ble ITAT which needs rec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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