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of <h1>Tribunal rectifies Order for Assessment Year 2005-06 due to oversight in considering crucial decisions</h1> <h3>M/s. AKM Enterprises Pvt. Ltd. Versus Income Tax Officer-5 (1) (1), Mumbai</h3> M/s. AKM Enterprises Pvt. Ltd. Versus Income Tax Officer-5 (1) (1), Mumbai - TMI Issues: Rectification/recall of Tribunal Order for AY 2005-06Analysis:1. The assessee filed a Miscellaneous Application seeking rectification/recall of the Tribunal Order passed in ITA No. 5124/Mum/2014 dated 29/06/2018 for Assessment Year 2005-06.2. The Authorized Representative for the Assessee pointed out that the decisions relied upon by the bench were not cited during the appeal adjudication. Additionally, a decision related to share transactions through entities of Mukesh Chokshi Group, as presented in the paper-book, was not considered.3. The bench, after careful consideration, agreed with the assessee's submissions, noting that the non-consideration of a binding judicial precedent of the Hon'ble Bombay High Court would constitute a mistake apparent from the record. Consequently, the order was recalled in the interest of justice.4. The registry was instructed to schedule the appeal for a regular hearing before the regular bench, following intimation of the date of hearing to the concerned parties.5. The application was allowed based on the above order, and the pronouncement was made in the open court on 23rd April 2019.
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