2018 (10) TMI 502

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.... errors committed by the Tribunal while adjudicating grounds no.1, 2 and 3 of the appeal. The relevant part of pleadings made in the MA read as under: "1.1 Applicant submits that while adjudication first two grounds Hon'ble Tribunal escaped its attention to the following material facts which were specifically drawn to its notice in the course of hearing: (a) Agricultural income was disclosed by the partners in returns furnished in the hands of HUE and copies of returns had been furnishing indicating disclosure of agricultural income. (b) Partners in turn disclosed share in HUF income in their individual returns and claimed the same as exempt u/s 10(2). (c) Income claimed exempt u/s 10(2) has not been dist....

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....case of CIT vs. Singhal Natural Stone (P) Ltd (2011) 243 CTR (Raj) 414 holding that the assessee is entitle to value closing stock at reduced rate particularly when the same has been sold in the succeeding period at a lesser rate. c) Closing stock was sold at a substantially lower value in succeeding year." 3. The ld.counsel for the assessee while reiterating the submissions made in the MA also contended that the mistakes pointed out in the MA are apparent on the face of the order, and therefore, impugned order of the Tribunal cited supra deserves to be rectified. The ld.DR on the other hand submitted that all issues pointed out by the assessee in MA have already been dealt with by the Tribunal in its detailed order, and therefo....