TMI Blog2022 (11) TMI 548X X X X Extracts X X X X X X X X Extracts X X X X ..... rving that profit has to be decided for turn-over in its entirety. If that be the case, then the contention raised by the appellant needs to be accepted. As could be seen from the giving effect to order passed by the assessing officer assessing officer had given effect to the order of the tribunal by understanding as if the tribunal directed the net profit estimation only in respect of the disclosed income. The tribunal having clarified that the profit has to be estimated in its entirety, the view taken by the assessing officer in its order is incorrect. Thus, for the above reasons, the assessee is entitled to succeed. - The assessing officer is directed to apply the net profit rate as ordered by the tribunal in its order therein to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re receipts of the appellant, both disclosed and undisclosed, ruling out any separate addition of the gross amount of undisclosed receipts to the taxable income and its order not doing so is arbitrary, unreasonable and perverse? The assessee was on appeal against the order passed by the Commissioner of Income Tax (Appeals), Kolkata [CIT(A)] dated 28th March, 2013 contending that the CIT(A) erred in law in confirming the Assessing Officer s order in estimating the assessee s profit. Once he has made an addition as per seized documents and no evidence or document having been found in search suggesting that the appellant has earned more income than discovered in course of search and seizure documents and thereby making an addition of Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tification so that the error, according to the appellant/assessee could not rectified by the tribunal itself. For such purpose leave was sought for from this Court and the Hon ble Division Bench, by order dated 6th August, 2014, granted liberty to the appellant/assessee to make appropriate miscellaneous application before the tribunal with regard to the apparent omission. Accordingly, miscellaneous application nos.43-47/Kol/2014 was filed before the tribunal. In those application it was contended that there is an apparent omission in the impugned order passed by the tribunal dated January 17, 2014 and the same may be rectified by directing that the net profit determined by the tribunal be applied to the entire receipts of the assessee both ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evident from para 4 of the Miscellaneous Applications and as no error has been pointed out in the order of the Tribunal, the Miscellaneous Applications as filed by the assessee stand dismissed. 6. In the result, the Miscellaneous Applications filed by the assessee are dismissed. Order pronounced in the open Court on 20th day of February, 2015. The appellant/assessee, with a view to bring on record the order passed by the tribunal, dismissing the miscellaneous applications vide order dated 20th February, 2015, has filed miscellaneous application being GA No.1660 of 2014 and has raised certain grounds as to the correctness of the said order. The learned senior standing counsel appearing for the respondent/revenue would contend that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mentioned, the profit has to be decided for the turn-over in its entirety. Though the learned tribunal had held so, for reasons best known, the application stood dismissed probably on the ground that by virtue of seeking a clarification, the assessee seeks for a review of an order which is impermissible. In any event, the learned tribunal, in the main order dated 17 th January, 2014 had granted relief to the assessee by estimating profit on slab rates ranging from 10% to 25% for each of the assessment years. Thus, the only question was whether it should be applied uniformly and whether the assessing officer was justified in applying the order passed by the tribunal only in respect of the disclosed income. As mentioned above, the manner in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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