Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (3) TMI 467 - DELHI HIGH COURTRectification of mistakes - The tribunal, while exercising the power of rectification under Section 254(2) of the Act, can recall its order in entirety if it is satisfied that prejudice has resulted to the party which is attributable to the tribunal’s mistake, error or omission and which error is a manifest error and it has nothing to do with the doctrine or concept of inherent power of review The best judgment assessment made for the year 1992-93 was upheld but the Tribunal upheld the decision of the Commissioner of Income Tax (Appeal) holding that gross profits should be calculated at the gross profit rate at 5% instead of 10% on the total quantum of sales - In the application under Section 254(2) of the Act, it was contended that the Assessing Officer has rightly applied gross profit rate at 10% and the said estimate was justified and well reasoned - The Tribunal in the garb of mistake cannot give fresh hearing and re-examine the merits as an appellate court - Accordingly writ petition is dismissed
|