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of <h1>Assessee's Appeal Dismissed: Grounds Not Modified, Depreciation Issue Restored.</h1> <h3>M/s Laxmi Ventures (Bombay) Pvt. Ltd. Versus D.C.I.T., Cir. 5 (2), Aayakar Bhawan, Mumbai</h3> The Tribunal dismissed the assessee's Misc. Application seeking to recall or modify grounds of appeal related to discrepancies in contract receipts and ... - Issues involved: Request for recall of grounds of appeal, discrepancy in contract receipts, restoration of issue to the Assessing Officer (A.O.), challenge before High Court.Request for recall of grounds of appeal: The assessee sought to recall or modify grounds of appeal related to discrepancies in contract receipts and TDS certificates for fresh adjudication or restoration to the A.O.'s file. The Tribunal had dismissed the appeal citing the age of the matter, verification of TDS certificates, and the audited nature of the company's accounts.Discrepancy in contract receipts: The assessee disclosed an amount different from that in the TDS certificates for contract receipts. The discrepancy arose from TDS certificates of other companies, one of which was untraceable. The assessee requested summons to those parties and a stay pending a decision from the Company Law Board, but the Tribunal did not find merit in these arguments due to the age of the matter and the verified TDS certificates.Restoration of issue to the A.O.: The Tribunal restored the issue of depreciation for verification based on evidence rejected by the CIT(A) under Rule 46A of the I.T. Rules. The assessee argued that the Tribunal overlooked a petition before the Company Law Board regarding fake TDS certificates, leading to a miscarriage of justice. However, the Tribunal found no error in its findings and dismissed the Misc. Application.Challenge before High Court: The assessee had challenged the Tribunal's order before the High Court, raising multiple grounds. The Tribunal cited a precedent where it was deemed inappropriate for the assessee to raise the same questions before the Tribunal while they were pending before the High Court. Consequently, the Misc. Application filed by the assessee was dismissed.Separate Judgment: No separate judgment was delivered by the judges in this case.Conclusion: The Misc. Application filed by the assessee was dismissed by the Tribunal, upholding its previous order and finding no grounds for recall or modification of the appeal.
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