The assessee is in the business of builder and developer. Writ petition is filed against the order of Tribunal rejecting the miscellaneous application filed by the appellant. CIT(A) has restricted the addition to 1.5% from 3% on sales and purchases of the alleged bogus purchases.\u00a0 Tribunal affirmed the order of the CIT(A). The petitioner moved the application for rectification of mistake which was dismissed by the Tribunal. Dismissing the petition the Court observed as under \u201cIn the instant case, what we notice is that not only was there no mistake from the record but in the garb of the mis. Application, petitioner had\u00a0 sought for review of the\u00a0 final order passed by the Tribunal and for re-hearing of the appeal which is not permissible in law. In our view, Writ petition does not appear to be bonafide. \u201cAccordingly the petition is dismissed and cost of Rs.10000 is imposed on each of the petitions on the petitioner. \u00a0(Arising M.A. No 658\/M\/2018 dt. 13-03-2019, ITA No. 4875\/Mum\/2014.\u00a0\u00a0 (W.P. No. 2471 of 2019 dt. 31-01-2020 )\u00a0 (AY. 1999-2000)\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record \u2013Bogus purchases\u2013Estimation of profit at 1.5 % of on sales and purchases- Re hearing of appeal is not permissible in law-Writ against the rectification is held to be not bonafide \u2013 Cost of Rs 10000 is imposed on each of the petitioners. [S.69C, 254(1), Art. 226]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10048","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2C4","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10048","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10048"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10048\/revisions"}],"predecessor-version":[{"id":11956,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10048\/revisions\/11956"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}