9911796707
TMI Blog2007 (4) TMI 258X X X X Extracts X X X X X X X X Extracts X X X X ..... application for rectification under section 254 of the Act was moved by the assessee – while allowing the rectification application, tribunal vacated the assessment u/s 147(b) – held that - Apparently, the order of the Tribunal suggests now that there was nothing in the recorded “reasons to believe” to warrant the inference that the “reason to believe” was based upon the objections in the audit r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r dated January 25, 1985. Subsequently, an application for rectification under section 254 of the Act was moved by the assessee upon which the Tribunal stated as follows: "At the time of passing the original order the Tribunal has not seen the original reasons which were recorded by the Income-tax Officer. The Income-tax Officer stated that he had information in his possession which showed that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bunal dated January 25, 1985 ? 2. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was correct in holding that the Income-tax Officer had no material in his possession when he has issued the notice under section 148 for reopening the assessment ?" 4. In the earlier order dated January 25, 1985, the Tribunal had recorded a finding that the reopening of assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inference that the "reason to believe" was based upon the objections in the audit report. Thus, there was an error apparent on the record in the order dated January 25, 1985. 7. It is settled that errors apparent on the record can be rectified under section 254. The case law on this issue has been discussed by the Division Bench of this court in the case of Biswanath Prasad and Sons v. CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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