Allowing the appeal of the assessee, the Court held that the Tribunal, while exercising power under section 254(2), cannot revisit its earlier order by going into merits but is confined only to rectify or correct any mistake apparent on record. In the garb of rectification, the issue cannot be re-adjudicated, and a fresh order cannot be passed effacing the original order, which is clearly impermissible. Therefore, once the Tribunal had partly allowed the appeal by order dated 21-9-2011 and had directed adoption of 5 per cent profit ratio by modifying the assessment order, the Tribunal was not within its power to re-adjudicate issues and determine estimated income in the hands of the assessee afresh.