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TMI Blog2019 (3) TMI 566X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 28/02/2018 in ITA No.5588/Mum/2016. The relevant contents of the miscellaneous application filed by the assessee are reproduced hereunder:- "I, the above named Petitioner do hereby seek permission to file this Miscellaneous Petition for rectification of mistakes apparent in the order and recalling the Tribunal order dated 28.2.2018. 2. The assessee submits that the AO vide order dated 5.3.2015 has passed the assessment order and made addition of Rs. 2,78,12,020/- under section 69C of the Income Tax Act, 1961 on the basis of information sought from third party, under the head bogus purchases, assessing the total income at Rs. 2,81,78,280/-. 3. The assessee challenged this addition before the Id. Commissioner of Income Tax (A). B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee. Hereto to annexed and marked as Ex-A is a copy of judgement and order dated 22.2.2011 of Hon'ble Jurisdictional High Court in the case of CIT V/s Ashish International Ltd. 10. The assessee submits that the assessee has taken the ground of violation of principle of natural justice as the statement recorded by the State Sales Tax Department were shown to the assessee but not shown the parties who they are they and used these statements/affidavits against the assessee. 11. The Petitioner submits that the following mistakes are apparent in Tribunal order: a) The Hon'ble ITAT is bot dealt with grounds of reopening assessment u/s 147/148 which was dul taken by Assessee in its grounds of appeal b) Violation of Principle of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any mistake committed by the Tribunal - This fundamental principle has nothing to do with the inherent powers of the Tribunal - Rule of precedent is an important aspect of legal certainty in the rule of law - This principle is not obliterated by s. 254(2) - Therefore, Tribunal was justified in exercising its powers under s. 254(2) when it was pointed out that an order of the co-ordinate Bench placed before the Tribunal was not considered by it while passing the original order. Hereto exhibit and marked as Annexure-B is the copy of judgement in the case of Honda Siel Power Products Ltd. (supra). ii) The decision In the case of Commissioner Of Income Tax vs Ramesh Chand Modi on 4 July, 2000 [(2000) 163 CTR Raj 424 / (2001) 249 ITR 323 (Ra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of reopening of assessment. Hereto Annexed and marked as Ex-E. 14. The Petitioner-assessee prays for recalling the Tribunal order dated 28.2.2018 on the following grounds . The assessee therefore prays that: a) The Miscellaneous Application filed by the assessee for recalling the Tribunal order dated 28.2.2018 be allowed; b) The assessee be given an advantage of credit of existing GP and VAT from 12.5%; c) Any consequential order may be passed as this Hon'ble Tribunal may deem fit and proper in the facts and circumstances of the case. d) The appellant crave leave to add, alter, modify, amend and /or delete any of the prayer made in the application." 3. We have heard both of parties and perused the miscellaneous applica ..... X X X X Extracts X X X X X X X X Extracts X X X X
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