9911796707
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Issues Involved:
The judgment deals with a Miscellaneous Application filed by the applicant-Revenue against the order of the Tribunal dated 26.08.2011 in ITA No.1023/Chd/2010 concerning the Assessment Year 2007-08. The applicant-Revenue raised a grievance regarding an error in ground No.(ii) before the Tribunal, where the addition of Rs. 80,000/- on account of revaluation of closing stock of gold was mistakenly mentioned instead of the deletion of addition of Rs. 3,80,000/-. Due to this error, the appeal of the Revenue was dismissed for having low tax effect. Upon review, it was found that if the correct figure of Rs. 3,80,000/- is considered in ground No.(ii), the tax involved would exceed the limits for filing an appeal before the Revenue. Consequently, the Tribunal recalled its order dated 26.8.2011 and directed the Revenue to file an amended ground of appeal No.(ii). The Tribunal scheduled the appeal for hearing on 4.6.2012, and formal notice was waived with the consent of the parties. The Miscellaneous Application filed by the Revenue was allowed, and the order was pronounced in the Open Court on the 9th day of May, 2012.
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