2018 (8) TMI 1738 - AT - Income Tax

Rectification of mistake - assessee has not made any submission for selling at a lower rate is a mistake which is apparent from record - Held that - Considered the rival submissions and perused the material on record. In our view, ground Nos. 5, 6 & 7 raised in the appeal are to be adjudicated on the merits by recalling the above order. The appeal is accordingly recalled and is fixed for hearing on 10/09/2018. As this date was noted by both the counsels, no notice of hearing is required to be issued.

Summary

Issues involved:
Rectification of mistakes apparent from the record in the order of the Tribunal dated 28/02/2017 in ITA No. 229//Hyd/2017.

Analysis:
The Miscellaneous Application was filed by the assessee seeking rectification of mistakes apparent from the record in the Tribunal's order. The appellant contended that certain crucial grounds of appeal were dismissed by the Tribunal as not pressed, which was incorrect as per the appellant's submission during the hearing. The appellant argued that the grounds were essential for deciding the issue, especially if other grounds based on law were not allowed. The appellant also highlighted the details of the sale of property and the actual sale consideration received, which was higher than the Stamp Duty Value under Section 50C. The appellant requested the Tribunal to rectify the mistake apparent from the record.

The ld. AR of the assessee urged that the rectification of mistakes apparent from the record should be considered by recalling the previous order. On the contrary, the ld. DR objected to the submission, stating that there was no mistake apparent on the record and supported the adjudication on merits. After considering the rival submissions and examining the material on record, the Tribunal found that ground Nos. 5, 6 & 7 raised in the appeal needed to be adjudicated on their merits by recalling the previous order. Consequently, the appeal was recalled and fixed for a hearing on 10/09/2018, a date agreed upon by both counsels, eliminating the need for a separate notice of hearing. As a result, the Miscellaneous Application filed by the assessee was allowed, and the decision was pronounced in the open court on 10th August 2018.