9911796707
TMI Blog2018 (4) TMI 1471X X X X Extracts X X X X X X X X Extracts X X X X ..... o.01/2017 - - - Dated:- 18-4-2018 - Sanjeev Kumar And Ramalingam Sudhakar, JJ. For the Appellant : Mr Sheikh Najeeb, Advocate vice Mr S.S.Ahmed Advocate For the Respondent : Mrs Aruna Thakur, Advocate ORDER Sanjeev Kumar, J. 1 This appeal is directed against the order dated 30.09.2016 passed by the Income Tax Appellate Tribunal, Amritsar Bench (hereinafter to be referred to as the Tribunal ) in MA No.13(Asr)/2016 arising out of ITA No.595(Asr)/2013 whereby the miscellaneous application filed by the appellant in terms of Section 254(2) of the Income Tax Act, 1961 (hereinafter to be referred to as the Act ) against the order dated 14.02.2014 passed in ITA No.595 (Asr)/ 2013, has been dismissed. 2 This appeal was a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he gross receipts. The CIT (A) also set aside the addition of ₹ 22.00 lac made on account of unexplained crash credits. The Revenue, however, felt aggrieved of the aforesaid order of the CIT(A) and assailed the same in an appeal before the Tribunal. The Tribunal allowed the appeal preferred by the Revenue, set aside the order of the CIT(A) and restored the order of the assessment made by the Assessing Authority. In short, the application of 10% net profit rate on the gross receipts made by the Assessing Authority was upheld. However, with regard to the addition made by the Assessing Authority under Section 68 of the Act, the matter was remanded to the Assessing Authority with a direction to decide the same afresh by providing adequate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee, shall not be made under this. sub- section unless the Appellate Tribunal has given notice to the assessee of its intention to do so and has allowed the assessee a reasonable opportunity of being heard. 7 From a bare reading of sub-Section 2 of Section 254 of the Act reproduced above, it is clear that the Tribunal can amend its order passed under Section 254(1) of the Act reproduced above for rectifying any mistake apparent from the record. This power of rectification is exercisable by the Tribunal Suo Motu or when the mistake is brought to its notice by the Assessee or the Assessing Officer. It is, thus, beyond any pale of doubt that this power vested in the Tribunal for rectification of its order is to be exercised only for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssment whereby net profit rate of 10% on the gross receipts had been applied by the Assessing Officer. The best judgment assessment, to be made by the Assessing Authority in terms of Section 144 of the Act, is required to be made by the Assessing Authority after taking into account all the relevant material. The Judicial precedents on the similar issue undoubtedly constitute relevant material. 10 Whether, in the facts and circumstances of the case, the judgment rendered by the ITAT Amritsat Bench in the case of Mohan Singh Contractor (Supra) or the one rendered by the same Bench in the case of M/S Pooja Construction Company (supra) was nearer to the facts of this case and, thus, applicable, is a matter required to be determined by the Ad ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
