TMI Blog2001 (12) TMI 534X X X X Extracts X X X X X X X X Extracts X X X X ..... sment year 1991-92. I.T.A. No. 1467/JP/95 is against the order of CIT(A) Raj. III Jaipur dated 24-4-1995 being in respect of assessment order dated 20-3-1992 whereas I.T.A. No. 1680/JP/95 is an appeal against the order of CIT(A) Raj. III Jaipur dated 9-6-1995 passed under section 154 rejecting the Assessing Officer s petition seeking rectification of appellate order dated 24-4-1995 because as a result thereof the assessed income was falling below returned income. 4. We have heard the arguments of both the sides and also perused the records. 5. First we take up I.T.A. No. 1468/JP/95 for assessment year 1992-93. The ld. D.R. has filed a petition seeking permission to raise the following additional ground as ground No. 2, and to re-number ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assed in I.T.A. No. 815/JP/97 (A.Y. 1994-95) in the case of Heera Lal Bhat, and has filed a copy of the same. 6. We have considered the rival contentions, as also the material on record including the above referred order of this Bench. The issue is found to be squarely covered by the aforesaid order of this Bench and the facts being identical we respectfully follow the above mentioned decision of this Bench and the additional ground raising an entirely new issue, and being sought to be raised after the expiry of the period of limitation prescribed for filing an appeal, we accordingly reject the Ld. D.R. s petition for raising the new additional ground. 7. The original ground No. 1 disputes the Ld. CIT(A) s impugned order in directing th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lt of decision on this ground No. 1 falling below returned income shall be dealt with by us separately in I.T.A. No. 1680/JP/95, though the issue is quite related to this ground. Considering the rival contentions we find the issue pertaining to allowing of deduction for depreciation covered by our decision rendered above on similar issue contained in ground No. 1 in I.T.A. No. 1468/JP/95 being for assessment year 1992-93 and so we follow the same and accordingly hold the Ld. CIT(A) s impugned order on this count to be quite justified. The issue of allowing of interest paid to third parties out of net profit determined by applying a particular n.p. rate is covered in assessee s favour by order dated 26-7-2000 of this Bench passed in the case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income be restricted to returned income. He has contended that such an order was also passed in the case of M/s Ganpat Rai Bishnoi (I.T.A. No. 770/JDPR/98 decided on 8-1-2001) wherein such direction was given. As against this the Ld. A.R. of assessee has contended that no mistake has been pointed out except that the assessed income becomes less than the returned income. He has relied on CIT(A) s order. 15. We have considered the rival contentions as also the material on record. In our considered opinion when it is brought to the notice of appellate authority that on giving effect to that authority s appellate order the assessed income goes below the retuned income, and a direction by way of rectification to the effect that the income so d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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