2018 (10) TMI 1878

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..... commercial banking activity - HELD THAT:- From the various judgements of the Supreme Court and other High Courts, it is clear, that the Tribunal s power u/s. 254(2) is not to review its earlier order, but only to amend it with a view to rectify any mistake apparent from the record. An error apparent on the record means an error which strikes one on mere looking and does not need a long drawn out .....

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..... Petition against the order of this tribunal in ITA No. 2331/Chny/2017 for assessment year 2014-15, wherein, this tribunal considering the fact recorded by the Assessing Officer, inter alia, that the assessee has not carried out any activities in connection with agricultural activity, as provided under explanations of section 80P(4), its activities are purely a commercial banking activity, it is c .....

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..... ts, it is clear, that the Tribunal s power u/s. 254(2) is not to review its earlier order, but only to amend it with a view to rectify any mistake apparent from the record. An error apparent on the record means an error which strikes one on mere looking and does not need a long drawn out process of reasoning on points on which there may be conceivably two opinions. The error should not require any .....

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