2012 (5) TMI 845 - AT - Income Tax

Summary

Issues involved: Appeal against the order of the Tribunal under section 254(2) of the Income Tax Act, 1961 for rectification of mistakes apparent on record.

Summary:

Issue 1: Appeal for Rectification of Order
The applicant/assessee filed a Miscellaneous Petition under section 254(2) of the Income Tax Act, 1961 against the Tribunal's order dismissing the appeal. The applicant claimed that there were mistakes apparent on record requiring rectification.

Issue 2: Consideration of Petition
No representation was made on behalf of the applicant. The Judicial Member and the Departmental Representative (D.R.) reviewed the contents of the Miscellaneous Petitions and heard the arguments presented by the JCIT.

Issue 3: Jurisdiction of the Tribunal
The JCIT contended that the Tribunal's decision was made after due consideration and that the Tribunal does not have the power to review under section 254(2). The applicant sought to recall the order for fresh consideration based on certain documents.

Issue 4: Review of Tribunal's Decision
The Tribunal examined the applicant's petition and found it to be a request for re-appreciation of evidence, which is impermissible in law. The Tribunal clarified the reasons for not considering certain documents relied upon by the assessee.

Issue 5: Precedent and Legal Principles
The applicant cited a Supreme Court judgment, but the Tribunal found the facts of the cited case to be different. The Tribunal emphasized that rectification is only permissible for glaring, obvious, and patent mistakes, not debatable points of law.

Conclusion:
The Tribunal dismissed the Miscellaneous Petition as it lacked merit and did not present any apparent mistakes on record. The decision was pronounced in open court on the 25th of May, 2012 in Chennai.