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2019 (8) TMI 1328 - AT - Income TaxRectification u/s 254 - Profit estimation on alleged bogus purchase from Hawala/Suspicious dealers - HELD THAT:- Tribunal had recorded its finding, in respect of issue involved in appeal regarding profit estimation on alleged bogus purchase from Hawala/Suspicious dealers and after considering relevant facts and also by following the decision of ITAT, Mumbai Bench in assessee’s own case for earlier assessment year has directed the AO to estimate 12.5% net profit on alleged bogus purchases. We, further noted that if, you go through contents of miscellaneous application filed by the assessee in light of findings recorded by the Tribunal in its order dated 27/02/2019, we are of the considered view that the assessee has failed to make out a case of prima-facie mistake apparent on record, which could be rectified u/s 254(2). Further, what the assessee seeking is to review the decision rendered by the Tribunal in the given facts and circumstances of the case and also by following the decision of co-ordinate bench in assessee’s own case for earlier assessment years, which is not permissible u/s 254(2) of the I.T.Act, 1961. Therefore, we are of the considered view that there is no merit in miscellaneous application filed by the assessee and accordingly, the same is dismissed.
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