The case pertains to the rectification of a mistake and...

The case pertains to the rectification of a mistake and reopening of assessment u/s 147 versus assessment u/s 153C. The information or seized document belonging to the assessee was found at the searched person's place. The authorized representative mentioned that the Tribunal did not consider judicial decisions and dismissed the additional ground of appeal, upholding the CIT(A)'s decision on the validity of reassessment proceedings u/s 147. The ITAT supported its view relying on the Supreme Court's decision in Honda Siel Power Productions Ltd., where the Tribunal's rectification application was allowed as it had missed considering a precedent judgment while dismissing the appeal on enhanced depreciation u/s 43A. The ITAT held that non-consideration of cited judicial decisions is a mistake apparent from the record. Accordingly, in the interest of natural justice, the Tribunal recalled its order and directed the registry to post the appeal for regular hearing and inform the parties.