TaxTMI 
TaxTMI 
2021 (8) TMI 815
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....d ITA No.432/VGiz/2017 dated 04.10.2019 for the A.Y.2012-13. 2. In this case, the assessee filed the returns of income for the Assessment Year (A.Y.) 2008-09 and 2012-13 and the details of returns of income filed and the assessments completed on total income by the Assessing Officer (AO), assessment year wise is as under : A.Y. Returned Income (Rs.) Assessed Income (Rs.) 2008-09 1,32,59,750/- 5,28,13,310/- 2012-13 2,86,38,480/- 4,82,26,310/- The assessee went on appeal before the Commissioner of Income Tax (Appeals) [CIT(A)] and the Ld.CIT(A) partly allowed the appeals of the assessee. Against the orders of the Ld.CIT(A), the revenue filed appeals before this Tribunal and the assessee filed cross objections. The Tribunal ha....
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....he submission of the various letters filed by the assessee is that inspite of compromise under Vivad se Vishwas Scheme, assessee intends to continue the litigation, therefore requested to adjudicate the M.A. filed by the assessee. 4. The sum and substance of assessee's contention in M.A. is that the ITAT has directed the AO to estimate the income @12.5% on main contracts and 5% on sub contracts before depreciation, interest and remuneration to partners which is unjustified and therefore, requested to recall the order and reduce the estimation of income @ 11% instead of 12.5% to meet the ends of justice. During the course of hearing, the Ld.AR reiterated the submissions made in it's M.A. and requested to recall the order and revise the esti....
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.... hearing, the Ld.AR stated that the assessee has produced the books of accounts and vouchers before the CIT(A) and the Ld.CIT(A) called for the remand report which the AO did not examine. The argument made by the Ld.AR was incorrect as verified from the order of the Ld.CIT(A). In Ld.CIT(A) order page No.16, the Ld.CIT(A) has mentioned that the assessee has filed written submissions which were forwarded to the AO for his comments. It is observed from the order of the Ld.CIT(A) that the assessee has filed written submissions in response to which the AO submitted the remand report. From the assessment order, it is observed that the assessee has not produced the vouchers, bills in support of journal entries for expenses. Originally, the assesse....
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....g the availability and maintenance of vouchers. From the Ld.CIT(A) order, it is observed that the assessee himself has stated in letter in page No.9, that it has made payments in cash to labour supplier, oils and lubricants, dust and chips in violation of section 40A(3) and wrongly grouped the sum of Rs. 1,50,00,000/- under chips instead of labour charges in letter dated 29.12.2010. Pucca vouchers could not be produced for labour, loading and unloading of earth work, chips etc. Only kachha vouchers for chips were maintained. The assessee in respect of 40A(3) submitted that it has to make purchases from unorganized sector and the supplier did not issue the pucca vouchers. Production of original vouchers are not practicable and possible in th....
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....ssessee has not maintained the proper books of accounts and the true and correct income cannot be determined from the books of accounts and the assessee also requested to reject the books of accounts and estimate the income. There were so many issues which were discussed in detail in the appellate order, such as deduction u/s 40 (a)(ia), 40A(3) payment, payments made to various other suppliers such as PLC, M/s Raghava & Co., etc. which were not explained by the assessee. The rate of estimation of income depends on the facts and circumstances of each case and the same cannot be applied uniformly in all the case. In the instant case, after considering the various issues, ITAT viewed that estimation of income @12.5% is reasonable. ITAT Hyderab....
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....i. "13. The scope of power of rectification under s. 254(2) is well-settled. The power of rectification under s. 254(2) is confined to rectifying any mistake apparent from the record. The Tribunal does not have inherent power of rectification or review or revision. Unless there is a mistake apparent from the record in the sense of patent, obvious, clear error or mistake, the Tribunal cannot recall its previous order. If the error or mistake is one which could be established only by long-drawn arguments or by way of process of investigation and research, it is not a mistake apparent from the record. Unless there is manifest errors which are obvious, clear and self-evident, the Tribunal cannot recall its previous order in an attempt to rewr....