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2003 (7) TMI 12 - HC - Income TaxMistake apparent on record - "Whether Tribunal was justified in law in admitting the miscellaneous application when there was no apparent mistake rectifiable under section 254(2) and directing application of net profit rate of eight per cent subject to interest and depreciation?" - Tribunal has discussed in detail and taken the view of eight per cent, net profit rate, which cannot be said that there is apparent mistake in the order of the Tribunal, which can be corrected in the miscellaneous application moved under section 254(2) of the Act. Therefore, in our considered view, the Tribunal has committed error in allowing the eight per cent, net profit rate, subject to depreciation and interest. – Revenue’s appeal allowed
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