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Case lawSupreme Court › ACIT v Saurashtra Kutch Stock Exchange Ltd
Supreme CourtHelps taxpayers.254(2)s.154s.11s.12A

ACIT v Saurashtra Kutch Stock Exchange Ltd

A binding decision that covers my point was never considered when my order was passed. Is that a mistake apparent from the record?

A binding decision that covers my point was never considered when my order was passed. Is that a mistake apparent from the record?

Yes. The Supreme Court held that non-consideration of a decision of the jurisdictional High Court or of the Supreme Court can be a mistake apparent from the record, and upheld the Tribunal recalling its own order on that ground. The section actually applied was s.254(2); the same test - patent, manifest and self-evident - is the one used under s.154.

Decided by the Supreme Court (Supreme Court of India - C.K. Thakker and Lokeshwar Singh Panta, JJ. (judgment delivered by C.K. Thakker, J.)) on 2008-09-15, reported as [2008] 173 Taxman 322 (SC)/[2008] 305 ITR 227 (SC)/[2008] 219 CTR 90 (SC); Civil Appeal No. 1171 of 2004, affirming Asstt. CIT v. Saurashtra Kutch Stock Exchange Ltd. [2003] 262 ITR 146/130 Taxman 360 (Guj.). It bears on section 254(2), section 154, section 11, section 12A of the Income Tax Act 1961, in Assessment & Scrutiny, Appeals and How Tax Law Is Read matters.

Still good law. Later treatment verified in an earlier pass and not disturbed. Positive application appears in the itatonline digests for Philips India Ltd. v. PCIT (2021) 323 CTR 992 / 208 DTR 211 (Cal)(HC) and Sharda Cropchem Ltd. v. DCIT (2019) 71 ITR 141 / 199 TTJ 960 (Mum)(Trib), both citing it for the proposition that non-consideration of a decision of the jurisdictional High Court or of the Supreme Court is a mistake apparent from the record; those are digest summaries, not full judgments. The Bombay High Court in Vaibhav Maruti Dombale v. Assistant Registrar, ITAT (2025) 481 ITR 103 / 178 taxmann.com 447 (Bom)(HC), 12 September 2025, treats the decision as authoritative but reads it as confined to a prior binding decision that was not noticed. That reading sits uneasily with para 41 of this judgment, where the Supreme Court approved the Gujarat High Court's holding in Suhrid Geigy that a decision rendered prior or even subsequent to the order could ground rectification, and with paras 42 to 44 on the retrospective operation of judicial decisions. Nothing overruling or doubting the decision was found.

Why it matters

It is the authority for the one rectification ground that is not arithmetic: the order overlooked binding authority. That is worth more than an appeal in a small matter, because it costs nothing and does not put the rest of the assessment at risk. The department's answer is Volkart Brothers - that the point needs a long drawn process of reasoning and is therefore debatable - so the argument has to be that the decision is binding, on the same question, and simply was not looked at.

Binding on every court and authority in India.

Not yet CA-verified. This entry was found through the sources listed under the Sources tab, and the summary reflects what those sources say. Nobody has yet read the full judgment and signed it off. Check the source before relying on it.

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