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TMI Blog1980 (5) TMI 65X X X X Extracts X X X X X X X X Extracts X X X X ..... ring for to-day the 30th of May, 1980 when Shri A.K. Chattopadhaya, the ld. Authorised Rep. of the assessee supported the petition and contended that the order of the Bench having been made, relying upon the ratio of the decision of the Supreme Court in the case of Kasturbhai Lalbhai 1977 CTR (SC) 336: 109 ITR 537 SC and the said decision of Their Lordships having since been held by them as no good law, (in the case of Indian and Eastern Newspaper Society'). Their Lordships have observed that the Supreme Court was in error in the conclusion reached by it in the case of R.K. Malhotra, ITO vs. Kasturbhai Lalbhai a mistake apparent from record has come into play and merits to be rectified. Shri R. Dutta, the learned Deptl. Rep has vehemently ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Supreme Court has since disapproved its earlier case i.e. 109 ITR 537. In view of this legal position, the order of the Bench made in the above ITAs merits to be rectified since the mistake apparent from record comes into play. Accordingly, we respectfully request that the order of the Bench in the above ITAs be rectified. Yours faithfully For India Carbon Limited Sd/- (R.B. Rungta) Finance Manager 5. The assessee wants the following observations-finding of the Bench to be rectified. "It was contended on behalf of the assessee that the appeal is essentially one against the re-opening of the assessments and since the assessee has made a complete disclosure, the re-opening was on change of opinion and could not be sustained. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... meaning of s. 147(b) of the IT Act, 1961." 9. The Bench while making order dt. 26th June, 1979, had relied upon the ratio of the decision of the Supreme Court in the case of Kasturbhai Lalbhai, and accordingly, had justified the re-opening of the cases for all the assessment years under appeals through the re-opening was based on the basis of `audit report' and the said reliance 1977 CTR (SC) 336 : 109 ITR 537 (SC) having since been held by their Lordships to be an erroneous conclusion, we are of the opinion, and do hold that a mistake apparent from records creeps in and merits to be rectified, which we do, and accordingly do hold that the re-opening of the cases in the case of the assessee and relating to the asst. yrs. 1967-68 to 1969-7 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the completed assessments in his case, the application shall be acted upon, provided the same has been filed within time and is otherwise in order. Where any such applications have already been rejected and the assessee filed fresh applications within the statutory time limit, the same may also be treated on par with the applications which may either be pending or received after the issue of this Circular. 2. The Board desire that any appeals or reference pending on the point at issue may please be withdrawn. Sd/ (S. Bhattacharyya) Secretary, Central Board of Direct Taxes, (F. No. 245/17/71-A P.A.C.)." 11. In the result, the Misc. Petition-application for rectification succeeds and stands allowed under s. 254(2) of the Act, to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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