2021 (9) TMI 702

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....of I.T. Act on the ground that mistakes apparent from records have been occurred in the assessment order passed u/s 143(3) of I.T. Act. 2. That the learned C.I.T. (Appeals) has erred on facts in confirming the order u/s 154 of I.T. Act, holding the view that original assessment completed u/s 143(3) of I.T. Act on income of Rs. 1,37,06,580/- is involved by mistakes apparent from records 3. That the learned C.I.T. (Appeals) has erred on facts in sustaining estimated Net Profit at Rs. 1,94,05,703/- without deducting admissible depreciation under I.T. Rules on the ground that the admissible depreciation is deemed to have allowed by applying the flat rate of Net Profit. 4. That the learned C.I.T. (Appeals) has erred on....

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....T. Act, 1961 of the assessment order dated 26.03.2014 passed u/s 143(3) of the Act ignoring the provisions contained u/s 154(1A) of the Act which prohibits rectification of an order which has been considered and decided in any proceeding by way of appeal or revision." 3. This being a legal issue, going to the root of the matter and not requiring anything further to be brought on record, can be so allowed to be raised. It is so ordered. 4. The case of the assessee was selected for scrutiny assessment and by invoking the provisions of section 145(3) of the Income Tax Act, 1961, its income was estimated at 3% of total turnover, which came to Rs. 1,94,05,703/-and after adjustment of depreciation, the income was assessed at Rs. 1,37,06,580....

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....) of the Act, filed an appeal before the CIT(A) on 21.4.2014 and the appeal so filed was disposed of by the office of the CIT(A) on 15.5.2015 and the assessee did not dispute the order any further, and that, therefore, the order dated 26.03.2014, which has been rectified by the Revenue under section 154 of the Act, has already been considered and decided by the CIT(A) and it falls under the scope of the provisions of section 154(1A) of the Act, which prohibits any such rectification. 9. The ld. D.R., per contra, has submitted that it was noticed from the assessment order and the case record that depreciation of Rs. 40,34,834/- debited to the profit and loss account had been added to the income of the Assessee-company, whereas the depreci....

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.... any mistake apparent from the record an income-tax authority referred to in section 116 may,- (a) amend any order passed by it under the provisions of this Act ; (b) amend any intimation or deemed intimation under subsection (1) of section 143; (c) amend any intimation under sub-section (1) of section 200A. (1A) Where any matter has been considered and decided in any proceeding by way of appeal or revision relating to an order referred to in sub-section (1), the authority passing such order may, notwithstanding anything contained in any law for the time being in force, amend the order under that sub-section in relation to any matter other than the matter which has been so considered and decided." 11. ....