TMI Blog2007 (4) TMI 47X X X X Extracts X X X X X X X X Extracts X X X X ..... 2961/D/99 and C.O. No.235 and 236/Del/2003) for the assessment year 1988-89 and 1989-90, vide which application under Section 254(2) of the Act was dismissed. 2. The assessment order in this case was passed by the Assessing officer on 30th March, 1998 assessing the taxable income of Assessee as Rs.11,65,290/-. 3. Being dissatisfied with the assessment order, the Assessee filed appeals before the Commissioner of Income Tax (Appeals) who vide order dated 16th March, 1999, partly allowed the appeals filed by the Assessee. 4. Against the order of the Commissioner of Income Tax(Appeals), Revenue filed appeals for both the assessment years whereas, the Assessee filed cross- objections. Vide order dated 12th January, 2004, the Tribunal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Tribunal under Section 254(1) of the Act. 9. The relevant Section for the purpose of disposal of present appeal is Section 254(2) of the Act, which reads as under: "S254(1) xxx xxx xxx 254 (2). The Appellate Tribunal may, at any time within four years from the date of the order, with a view to rectifying any mistake apparent from the record, amend any order passed by it under sub-section (1), and shall make such amendment if the mistake is brought to its notice by the assessee or the Assessing Officer. Provided xxx xxx xxx" 10. This section enables the concerned authorities to rectify any "mistake apparent from the record". It is well settled that an oversight of a fact cannot constitute an apparent mistake rectifiable under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... objections relating to addition made on account of gross profit ratio @ 5% has been disposed of and the Tribunal has not given attention to the evidence submitted by him 13. The Tribunal vide impugned order has observed as under:- ?We have heard the assessee and also the Departmental Representative with respect to the impugned application and proceed to dispose of the issue on the following lines. It is found that in para 8 of the order of the Tribunal, a reference has been made to the dealings in special steel being carried out by the assessee and also the market condition of special steel industry. It is also noteworthy that the Tribunal in para 9 of its order has opined that the assessee has not given any cogent material to take a vi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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