Order contrary to subsequent SC judgement can be said to suffer from mistake apparent from record

Anandkumar Jain Vs ITO (ITAT Mumbai)

In the present case, there is no dispute with respect to the fact that the subsequent decision of the Hon’ble Supreme Court in the case of Topman Exports (supra) has decided the issue of deduction under Section 80HHC of the Act on sale proceeds of DEPB license in favour of the assessee. Once that is so, it can be safely inferred that the legal position on the issue of deduction under Section 80HHC of the Act on sale proceeds of DEPB license has been clarified by the Hon’ble Supreme

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