2014 (5) TMI 360

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....wers of rectification. Against such order, appeal would not be maintainable. However, learned counsel for the Revenue drew our attention to the judgment of this Court dated 8.10.2013 in the case of Saroj Ceramics in Special Civil Application No.15074 of 2013 wherein while holding that in a case where an application for rectification is dismissed, tax appeal would not be maintainable, it was clarified that when such application is allowed, the original order of the Tribunal stands modified and that therefore, tax appeal would still be maintainable. We have, therefore, proceeded accordingly. Short question in this appeal is whether the Tribunal was justified in recalling its earlier order on an application for rectification filed by the as....

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....come under this chapter and calculate the tax. The demand even on remaining addition is effective from the date of original order of the A.O. i.e. 23.03.2006 in which undisclosed income was calculated at Rs.24,17,31,739/-. The item no.1 was addition of Rs.2,27,86,000/- on account of purchase of share as per para 5 of the assessment order. Out of this, the remaining addition of Rs.24,76,000/- was confirmed by the ITAT. Thus, the A.O. was right in adjusting the tax from the tax paid by the assessee at Rs.3,12,82,424/-. After adjusting the tax on Rs.24,76,000/- at Rs.14,85,600/-, he calculated rightly net refund including interest at Rs.6,21,52,043/-. Thus, we have considered view that CIT(A) was not right in allowing the appeal of the assesse....