2012 (2) TMI 552

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....ana Rao For the Respondent : B. V. Prasad Reddy ORDER Chandra Poojari (Accountant Member) By this Misc. Application, the assessee is seeking the Tribunal to recall/modify its order passed in IT(SS)A No.104/Hyd/2005 dated 30th January, 2009 pertaining to the block period from assessment years 1997-98 to 2002-03 and from 1-4-2002 to 25-7-2002. 2. The learned authorized representative ....

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.... further submitted that since the commission and other receipts were already recorded in the books of account by treating the same on money of Rs. 1,60,000/- as undisclosed income is not correct. It is further submitted that the assessee was a frequent visitor of Saudi Arabia and was in the habit of collecting foreign currency, and foreign currency found amounting to Rs. 8,234/- being small and re....

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.... of the CIT (A) opposed the contentions of the learned counsel for the assessee and not agreed with the recalling/modifying the Tribunal order in the instant case. 4. We have considered the rival submissions and perused the material available on record. Admittedly, the assessment order was passed under section 144 of the Act. There is also merit in the argument of the learned counsel for the as....

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.... passed the order. Now in the garb of rectification, the assessee cannot reopen and reargue the whole matter. In the present case, the Tribunal considered the material on record and delivered the order. The assessee had not raised the ground relating to passing of order ex-parte by the Assessing Officer. Now, the assessee cannot take up that issue before us in the proceedings u/s. 254(2) of the Ac....