9911796707
TMI Blog2023 (8) TMI 1640X X X X Extracts X X X X X X X X Extracts X X X X ..... ara 10 of the order of the Tribunal an inadvertent error of noting "the sales" in place of "unrecorded sales". Though in the paragraph 10, it has been clearly mentioned that percentage was to applied over the unrecorded sales but due to omission of the word "unrecorded" mistake has occurred in the order. The relevant submissions of the assessee are reproduced as under: "2. The fact of the case is the during the year under consideration the Ld. Assessing Officer has made the addition of Rs.30,58,864/- on account of alleged on-money in respect of Nagaon project. The Ld. CIT(A) sustained the said addition against which assessee preferred an appeal before the Hon'ble ITAT. Before Your Honour's, the appellant took an alternate plea tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s considered the alternate plea of the appellant and also noted the evidence of expenses in above para which were incurred out of books from the said on-money. However, while giving the decision Your Honours have inadvertently mentioned that the addition for on-money is restricted at the rate of the 10% of the sales after giving set-off of the expenses of on-money incurred on purchase of land instead of 10% of unrecorded sales i.e. on-money. While giving effect of the said order Ld AO proposed the addition to be restricted as 10% of the recorded sales, which was never the intention of the Hon'ble Bench. It appears that the above direction seems to be due to oversight due to which it was inadvertently mentioned the word 10% of sales inst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2007-08 onward has been restored back to the file of the Assessing Officer by the Tribunal wide order dated 19/0712022, therefore, in the facts and circumstances of the case, we feel it appropriate to restore the issue in dispute involving grounds raised by the assessee to the file of the Learned Assessing Officer for considering the claim of the assessee for making micend addition for undisclosed income for on-money at the rate of the 10% of the unrecorded sales after giving set off of the expenses of on-money incurred for purchase of the land. The grounds of the appeal of the assessee accordingly allowed for statistical purposes." 4. In the result, the Miscellaneous Application of the assessee is allowed. Order pronounced in the open C ..... X X X X Extracts X X X X X X X X Extracts X X X X
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