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TMI Blog2021 (9) TMI 879X X X X Extracts X X X X X X X X Extracts X X X X ..... Pavitran Kumar ORDER PER A. MOHAN ALANKAMONY, A.M: This Miscellaneous Application is filed by the assessee U/s. 254(2) of the Income Tax Act, 1961 seeking rectification of the Tribunal order dated 17/12/2020 passed in ITA No.351/Hyd/2017 for the A.Y. 2007-08. 2. The assessee in its elaborate Miscellaneous Petition has stated that certain mistakes had crept into the order of the Tribunal dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal are rectified then the addition made by the ld. Revenue Authorities may not be sustainable because assessee had already declared its profit more than 10% of its turnover. The Ld. DR on the other hand submitted that there is no mistake apparent in the order of the Tribunal hence the MA of the assessee may be dismissed. 4. We have heard both the parties and carefully perused the materials on r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proceedings U/s. 133A of the Act which has to be treated separately as undisclosed income and therefore, this amount cannot be included while computing the NP ratio of the assessee from its regular disclosed turnover in the books of accounts. Hence, the Net Profit arrived in the order of the Tribunal at 0.33% is in order. 5. As regards the addition made for Rs. 98,69,702/-, the findings of the Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee is devoid of merits on all counts.
6. It is pertinent to mention that filing of such frivolous Miscellaneous Application before the Tribunal only leads to wate of time and resources towards which levy of cost may be justifiable which we refrain from doing so.
7. In the result, MA filed by the assessee is dismissed.
Pronounced in the open Court on the 12th August, 2021. X X X X Extracts X X X X X X X X Extracts X X X X
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