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TMI Blog2008 (10) TMI 124X X X X Extracts X X X X X X X X Extracts X X X X ..... RREZ AHMED, J (ORAL). - These three appeals arise out of the common order dated 15.02.2008 passed by the Income-tax Appellate Tribunal under section 254(2) of the Income-tax Act, 1961 (hereinafter referred to as "the said Act") in respect of miscellaneous application Nos. 611, 612 and 613/Del/2006. The rectification applications had been filed by the assessee in respect of the tribunal's earlier c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -tax, Karnataka, Bangalore v. M/s Shaan Finance Pvt. Ltd. [1998] 231 ITR 308 while passing the said order dated 31.08.2005. The tribunal, in the impugned order, noted that the said decision of the Supreme Court in the case of Shaan Finance Pvt Ltd. [1998] 231 ITR 308 had been referred to. However, inadvertently the same remained to be considered by the tribunal while disposing of the appeals by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal of a judgment of the Supreme Court relevant to the point in issue would give rise to a mistake apparent from the record which can be rectified under section 254(2) of the said Act. Consequently, the tribunal recalled its earlier order dated 31.08.2005 passed in respect of all the three years in question. However, it clarified that it had not expressed any opinion about the applicability of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s case a decision of the High Court of Gujarat) or of the Supreme Court can be said to be a "mistake apparent from the record"? In our opinion, both - the Tribunal and the High Court - were right in holding that such a mistake can be said to be a "mistake apparent from the record" which could be rectified under section 254(2)." The Supreme Court also observed (page241) - "45. Rectificati ..... X X X X Extracts X X X X X X X X Extracts X X X X
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