2020 (3) TMI 126

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....ner.   PC : 1. Heard Mr. Sham Walve, learned standing counsel Revenue for the Petitioner. 2. Principal Commissioner of Income Tax-8, Mumbai, Petitioner in this Petition filed under Article 226 of the Constitution of India, is assailing the order dated 05.07.2019 passed by the Income Tax Appellate Tribunal, "G" Bench, Mumbai (briefly, the Tribunal hereinafter), rejecting the Misc. App....

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....assessed to tax. Accordingly, the profit out of such transaction was assessed at 12.5% which was treated as the suppressed profit element embedded in such purchases while directing deletion of the remaining amount. 5. Aggrieved by the said order of the first appellate authority, the assessee preferred further appeal before the Tribunal which was registered as ITA No. 4576/Mum/2017. It appears t....

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....see, Tribunal recorded a finding that it did not find any illegality or infirmity in the order passed by the first appellate authority. 7. On the ground that Revenue's appeal was not heard by the Tribunal which remained pending, Misc. Application No. 88/Mum/ 2019 was filed on behalf of the Revenue for recall of the order dated 20.12.2017 and for hearing both the appeals together. 8. Tribunal....