TMI Blog2018 (10) TMI 1590X X X X Extracts X X X X X X X X Extracts X X X X ..... the scope of sub-section (2) is restricted to rectifying any mistake in the order which is apparent from record and does not extend to reviewing of the earlier order. It is settled position of law that reconsidering the findings recorded, or reconsidering application of relevant provisions of law to facts of case, such a course is not permissible under section 254(2). Therefore, we are of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... call and rectification of order of the Tribunal passed in ITANo.1713/Ahd/2015 dated 27.1.2016. 2. In the Misc. Application the assessee has pointed out certain errors committed by the Tribunal while adjudicating the issue of speculation loss. The relevant part of pleadings made in the MA read as under: 5. The applicant most respectfully submits that I order to ascertain the non-applicabi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same. It is held that in computing the gross total income the normal provisions of the Act is applied and it is only thereafter, that it has to be determined as to whether the gross total income so computed consists mainly of income which is chargeable under the heads referred to in the Explanation. Therefore in the present case there is business loss of RS. 14,93,823/- from share treading fallin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the assessee in the MA have already been dealt with by the Tribunal in its detailed order, and therefore, no further adjudication is required. He submitted that the assessee under the garb of MA is attempting to review the order which is not permissible in law. Once the Tribunal decided the issue on merit and passed order, it becomes final and Tribunal cannot sit on for reviewing its order. 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reconsidering the findings recorded, or reconsidering application of relevant provisions of law to facts of case, such a course is not permissible under section 254(2). Therefore, we are of the view that by pointing out the alleged apparent errors, relying on new found and repeated submissions, the assessee is trying to review and revisit entire order of the Tribunal, which is not permissible in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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