The petitioner has claimed exemption u/s 47(xiv) which was disallowed. order was affirmed by the CIT(A) and Tribunal. Appeal to High Court was dismissed. (ITA No. 1731 of 2014 dt 18-7-20016. SLP was dismissed (SLP (C) No. 23753/2016 dt. 17-8-2016, Review petition was also dismissed by the High Court R. P(L) No. 36 of 2016 dt. 9-2-2017. The petitioner filed an application under section 254(2) of the Act too recall the order which was dismissed on 5-7-2019. The petitioner filed writ petition against the dismissal of order by the Tribunal. Dismissing the petition the Court held that the Tribunal has correctly applied the principle that under the guise of rectification of an error, a party cannot be permitted to recall the order on merits. Thus, no fault can be found with the impugned order. Referred CIT v. Reliance Telecom Ltd [2021] 133 taxmann.com 41(SC)(WP No. 247 of 2020, dt. 28.01.22) (AY. 2009-2010)
Kantilal Gopalji Kotecha v. CCIT (Bom.)(HC) (UR)
S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Appeal which was dismissed and review petition also dismissed-Dismissal of rectification order by the Tribunal is justified. [S. 47(xiv), 260A, Art. 226]