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2015 (7) TMI 765 - AT - Income TaxValidity of re-opening of assessments - additions of Gross Profit made by the AO towards suppressed sales on account of suppression of electricity charges - ITAT deleted the addition - whether the Tribunal has deleted the addition on wrong appreciation of facts and the same has resulted in a mistake apparent from record? - Held that:- The power given to the Tribunal u/s 254(2) can be exercised by the Tribunal, even if the order passed by the Tribunal u/s 254(1) has been challenged u/s 260A of the Act before the High Court. We notice that the Tribunal has deleted the addition sustained by ld CIT(A) by considering the facts relating the Power theft case, which in our view, is a mistake apparent from record. The Tribunal, as pointed out by the Revenue, has proceeded to dispose of the issue on wrong appreciation of facts. Hence, we find merit in the miscellaneous applications filed by the revenue. Accordingly, we recall all the grounds relating to the addition of Gross profit made on account of suppression of production/sales. In the miscellaneous petitions, the revenue has not pointed out any mistake on the decision rendered on the issues relating to validity of reopening of assessments. Hence the grounds relating to validity of reopening of assessments need not be recalled - Decided in part in favour of revenue.
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