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As regards, grounds No.4 on disallowances of gifts and other expenses, the ITAT has rejected the arguments of the assesee by holding that expenditure incurred are in the nature of personal expenses and or not incurred wholly and exclusively for the purpose of business, but while arriving at said conclusion, it has ignored the decision of co-ordinate bench in thecaseof Hansraj Mathurdas vs ITO ( ITA No. 2397/Mum/2010) relied upon by the assessee and other decisions, which are squarely applicable to facts of the assesee. The said error constitutes the mistake apparent on record, which requires rectification u/s 254(2) of the I.T.Act, 1961.

Shanti Prime Publication Pvt. Ltd.

Sec. 254 of Income Tax Act, 1961— Rectification of mistake — Tribunal has recorded its categorical finding that expenditure incurred under the head gifts and other expenses given to employees etc, are in the nature of personal expenses and are not incurred wholly and exclusively for the purpose of business of the assessee, further, it was found that what is sought through the miscellaneous application is to review the decision rendered by the Tribunal in the given facts and circumstances of the case, which is not permissible u/s 254(2), therefore, miscellaneous application filed by the assessee does not have merits and accordingly, the miscellaneous application is dismissed - - BAYER CROP-SCIENCE LTD. V/s ADDI. CIT - [2020] 27 ITCD Online 070 (ITAT-MUMBAI)