Ita/135/2007 Of Commissioner Income Tax And Another v. Iqbalpur Co-Operative Cane Development

ITA No. 135 of 2007 Hon’ble Prafulla C. Pant, J.Hon’ble B.S. Verma, J. Mr. Arvind Vashistha, Advocate, present for the appellants / review applicants. Mr. Gopal Narain, Advocate, present for the respondent /assessee. This is Application No. 10372 of 2009, moved on behalf of the review applicants, for condonation of delay in moving the Review Application No. 913 of 2009, for review and recall of order dated 08.05.2009 passed by this Court in Income Tax Appeal No. 135 of 2007. Heard. The application for condonation of delay is allowed. Delay is condoned. Also heard on review application. Learned counsel for the review applicants argued that the interest earned by the respondent through FDRs was not ‘attributable’ to the activities of the cooperative society (Assessee). This Court in its judgment sought to be reviewed, has given detailed reasons after interpreting the provisions of Section 80P of the Income Tax Act, 1961. The review jurisdiction has a limited scope and this Court cannot sit as an appellate authority over its own order. For the reasons as discussed above, we do not find any error apparent on the face of the record, which requires review or recall of the order dated 08.05.2009, passed in Income Tax Appeal No. 135 of 2007. Mere fact that another view is possible is no ground to review or recall the order. Therefore, the review application is rejected. (B.S.V., J.) (P.C.P., J.) 11.12.2009