Judges do not make law, they only discover or find correct law

As is the settled legal posit ion, in the light of Hon’ble Supreme Court’s decision in the case of ACIT –vs. – Saurashtra Kutch Exchange Ltd. (305 ITR 227) , a judicial decision acts retrospectively. As Their Lordships observed in this case, judges do not make the law, they only discover or find the correct law and, therefore, a rectification of mistake in an order can also be carried out in the light of Hon’ble Supreme Court’s judgment passed after the subject order is passed. The action of the CIT (Appeals) was thus correct and does not call for any interference.

INCOME TAX APPELLATE TRIBUNAL,KOLKATA 

I .T.A. No. : 266/ Kol . / 2012

Assessment year: 2005-06

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