TMI Blog2008 (10) TMI 124X X X X Extracts X X X X X X X X Extracts X X X X ..... parent from the record" which could be rectified u/s 254(2) - tribunal rectifying its mistake could not be found fault with - no question of law can be said to arise out of the impugned order – revenue’s appeal dismissed - 1148, 1149 and 1221 of 2008 - - - Dated:- 16-10-2008 - BADAR DURREZ AND RAJIV SHAKDHER JJ. R. D. Jolly for the appellant. O. S. Bajpai for the respondent. JUDGMEN ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 115/2006, 125/2006 and 129/2006 which had been admitted for hearing. However, the present appeals arise out of the said order dated 15.02.2008, whereby the assesse's rectification applications under section 254(2) of the said Act have been allowed and the order dated 31.08.2005 has been recalled. The rectification applications had been filed by the assessee because the tribunal had not discussed t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Golden Transport Co. 233 ITR 389(Del) which had been impliedly overruled by the Supreme Court decision in Shaan Finance Pvt. Ltd. [1998] 231 ITR 308. 3. By virtue of the impugned order, the tribunal has accepted the fact that it had not considered the decision of the Supreme Court in Shaan Finance Pvt. Ltd. [1998] 231 ITR 308 and in doing so, there was an error or mistake apparent fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ave been filed by the revenue against the said order passed by the tribunal. We find that the tribunal has correctly appreciated the law with regard to its power to rectify under section 254 (2) of the said Act. In a recent decision in the case of Assistant Commissioner of Income-tax v. Saurashtra Kutch Stock Exchange Limited [2008] 305 ITR 277 (SC), the Supreme Court held as under (page 240): ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
