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Section 254 of the Income-tax Act, 1961 - Appellate Tribunal - Orders of - Assessment years 1993-94 to 1996-97 - Tribunal, following its own order dated 29-10-1998 in assessee's case, decided matter vide order dated 22-2-2000, in assessee's favour but instead of allowing its claim that interest on securities/debentures should be taxed on due basis, it mentioned claim of interest paid by assessee 'on account of securities/debentures' - When assessee sought for rectification of apparent mistake under section 254(2), Tribunal directed recall of its earlier decision by its order dated 12-10-2001 - Whether since there was mistake apparent on face of record that Tribunal intended to pass order only in terms of order dated 29-10-1998 but a different conclusion had been communicated that needed to be corrected, Tribunal should correct its order accordingly by including directions as contained in its earlier order dated 29-10-1998, in place of incorrect portion - Held, yes - Whether, however, direction to rehear appeal and passing a fresh order, after rectification application was allowed could not be sustained - Held, yes FACTS The assessee had claimed that the interest on securities/debentures should be taxed on due basis and not on accrual basis, as assessed by the Assessing Officer, and, therefore, the addition made by him on that account was to be deleted. The Tribunal, vide order dated 22-2-2000, decided the matter in favour of the assessee, following its own order dated 9-10-1998 in the assessee's own case. However, while completing the sentence, instead of allowing the claim of the assessee that interest on securities/ debentures should be taxed on due basis, it mentioned the claim of interest paid by the assessee on account of 'securities/debentures'. In an application under section 254(2) the assessee sought for rectification of the said order, stating that it, being a mistake apparent from record, may be corrected so as to direct the Assessing Officer to allow the claim that interest on securities/debentures be taxed on due basis. The Tribunal, in its order dated 12-10-2001, however, directed to recall the said decision. On appeal : HELD The impugned order of…

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