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2023 (5) TMI 1323 - ITAT AHMEDABADRectification u/s 254(2) - scope/power of rectifying the mistakes apparent from record - Tribunal has not adjudicated/not considered the orders relied upon by the Ld. AR during the course of hearing as well as holding that non-applicability of the judgement of the Hon’ble Orissa High Court is a mistake apparent from record - HELD THAT:- Tribunal has taken cognisance of the decision of Hon’ble Orissa High Court and has given its view on the aspect of interest on staff loans whether business income or not. The view taken by the Tribunal is independent view after considering the decisions of the Hon’ble Gujarat High Court and the Hon’ble Orissa High Court and the Delhi Tribunal. The Tribunal has categorically noted the distinction on facts that in the said cases the interest earned on staff loan/advances was treated as business income noting the fact that they were given as mandatory incentives. This fact being not demonstrated in the present case, therefore, all these decisions were held to be not applicable in the present case. This cannot be termed as mistake apparent from record as the decisions cited by the Ld. AR were adjudicated and considered while expressing the view by the Tribunal in order and applicability of the decision of the Hon’ble Orissa High Court has also been taken into account after expressing our view - Miscellaneous Applications do not survive and hence are dismissed.
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