Supreme Court of India

Assistant Commissioner, Income Tax, Rajkot v. Saurashtra Kutch Stock Exchange Ltd.

Neutral citation

Reported as [2008] 13 S.C.R. 421

Bench C.K. Thakker and Lokeshwar Singh Panta JJ.

Decided 15 September 2008

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

5 Supreme Court benches have cited this judgment.

What the Court ordered

For the foregoing reasons, in our view, no case has been made out to interfere with the order passed by the Income • Tax Appellate Tribunal, Ahmedabad and confirmed by the High Court of Gujarat.

Judgment, page 23

From the headnote

Income Tax Act, 1961: s. 254(2): c Exercise of power under- Scope of- Held: Tribunal may · rectify any mistake apparent from the record suo motu - How- ever, when assessee or Assessing Officer brings such mis- · take to the notice of tribunal, it shall exercise the power. and rectify the mistake. Power of tribunal to rectify mistake in its order- Scope of - Non-consideration of decision of jurisdictional court by tri- bunal - Held: Is "mistake apparent from the record" which can be rectified u/s. 254(2) - Decision of jurisdictional court ren- dered few months prior to decision of tribunal and

Authorities it was built on

1963 Syed Yakoob v. K.S. Radhakrishnan & Others cited by 34
1967 I. C. Golak Nath & Ors. v. Sta Te of Punjab & Anrs. cited by 15
1959 Satyanarayan Laxminarayan Hegde and Others v. Millikarjun Bhavanappa Tirumale cited by 10
1954 Hari Vishnu Kamath v. Syed Ahmad Ishaque and Others. cited by 5

Where later benches applied it

2025 Vasanta Sampat Dupare v. Union of India & Ors. referred to
2025 Directorate of Revenue Intelligence v. Raj Kumar Arora & Ors. referred to
2024 Delhi Development Authority v. Tejpal & Ors. referred to
2023 Ram Kishor Arora v. Directorate of Enforcement referred to
2023 Govt. of Nct of Delhi through the Secretary, Land and Building Department & Another v. M/s. K.L. Rathi Steels Limited and Others referred to

Of those, 5 referred to

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