https://www.taxtmi.com/caselaws?id=287196 The Appellate Tribunal ITAT Mumbai recalled its earlier order in response to two Miscellaneous Applications filed by the assessee concerning incorrect profit ratio mentioned in the Tribunal's order for A.Y. 2009-10 and A.Y. 2010-11. The Tribunal acknowledged the error in noting the profit ratio at 12.5% instead of the actual 25% applied by the Assessing Officer. Consequently, the Tribunal allowed the miscellaneous applications, directing a reevaluation of the case. The judgment highlights the significance of precise factual recording in judicial decisions for equitable resolution of tax disputes. en-us Fri, 01 Mar 2019 00:00:00 +0530 Fri, 03 Apr 2020 10:52:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287196 The Appellate Tribunal ITAT Mumbai recalled its earlier order in response to two Miscellaneous Applications filed by the assessee concerning incorrect profit ratio mentioned in the Tribunal's order for A.Y. 2009-10 and A.Y. 2010-11. The Tribunal acknowledged the error in noting the profit ratio at 12.5% instead of the actual 25% applied by the Assessing Officer. Consequently, the Tribunal allowed the miscellaneous applications, directing a reevaluation of the case. The judgment highlights the significance of precise factual recording in judicial decisions for equitable resolution of tax disputes. Case-Laws Income Tax Fri, 01 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287196