2013 (3) TMI 897

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....ppeal was filed by the assessee-respondent. 2. The relevant text from the petition filed by the Revenue is extracted below for a better appreciation of the mistake pointed out by the Revenue:- "The Hon'ble Tribunal in para 14 of their order in IT(SS)A No. 82(Mds)/2006 dated 21-09-2011 in the case of M/s. Devaraj & Others vs. The Assistant Commissioner of Income-tax, Central Circle-I, Coimbatore for the block period 1-4-1986 to 13-2-1996 disposed off the appeal with the observation that: 'We modify the rate of profit to 5%. This much relief is granted in the present appeal.' 2. It is respectfully submitted that the above direction is based on the erroneous appreciation that the rate of profit in the Assessment Order date....

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....the Assessing Officer for estimating the income afresh. In the second round of assessment, rather remand assessment, the Assessing Officer has estimated the income on a different footing. He found that the several gross profit rates adopted by the Assessing Officer in the first round of assessment in respect of different classes of turnover were in fact on the higher side. He found that in the original assessment the income was determined at Rs. 9,25,51,290/- on the basis of that unreasonable gross profit rates. Instead of reducing the gross profit rates item by item, in the second round of remand assessment, the Assessing Officer reduced the income of the assessee on a lump sum basis. The Assessing Officer held that the income of the asses....