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2018 (6) TMI 446 - AT - Income TaxRectification of mistake - apparent error committed by the Tribunal - principles for exercising powers contemplated in section 254(2) - Procedure for block assessment u/s 158BC - whether diary found during the course of search is to be considered as relatable to the assessee? - Held that:- According to the rule of prudence that once the first statement given by a person without any consultancy, the statement given after two years of search is being presumed to be given after due deliberations and consultation - thus Tribunal has appreciated the evidence according to its understanding and taken one of the possible opinions. Bifurcation of total amounts and as to how ₹ 23,43,08,700/- has been treated by the CIT(A) could be assessable in the hands of Manoj Vadodaria in whose case 153-BD proceedings was allegedly pending - Held that:- Once the Tribunal has taken into consideration whole amount and appreciated the controversy with that angle, reversed the finding of the ld.CIT(A) then not taking into considering this issue separately, is not an apparent error. It is such a minor aspect which has not influenced the decision making processing. Cognizance of the written submission - Held that:- Nothing new is contained in the submissions. It is not something, which if excluded, would change the result or impacted the assessee adversely - thus we are of the view that arguments of the assessee in this respect are devoid of any merit because alleged submissions was one fold of contentions amongst others, and not some discovery of new facts. Failure to take cognizance of various loose papers found at the time of search - Held that:- Assessee is trying to point out very minor apparent error i.e. observation of the Tribunal that diary has a single entry ledger account - we do not see that reference to such small aspects would have bearing on the decision making process - these aspects are not to be looked into in a proceeding u/s 254(2) - we are of the view that the assessee has tried to get the order of the Tribunal reviewed in the garb of pointing out apparent mistake, which is not permissible in law - thus we do not find any apparent mistake in the order of the Tribunal - hence both the MAs. are dismissed.
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