ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, CUTTACK V. ALASHORE MARINE EXPORTS PRIVATE LIMITED, BALASORE

MA 26/CTK/2024

AI Insights

The case involves a miscellaneous application by the revenue against the order of the Income Tax Appellate Tribunal, Cuttack, which had previously ruled in favor of the assessee, Alashore Marine Exports Pvt. Ltd. The revenue contended that the Tribunal had incorrectly applied the principles from the Supreme Court's decisions in C.B.Gautam vs. Union of India and K.P.Verghese, particularly regarding the valuation issue. The Tribunal, however, upheld its original decision, stating that the application of the Supreme Court's principles was correct and that any alleged mistake was not apparent from the record but rather a debatable issue.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 472125 (ITAT-CUTTACK)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 24-01-2025
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2019-2020
• Other Referred Cases: C.B.Gautam Vs. Union of India, K.P.Verghese
• Laws Referred To: C.B.Gautam Vs. Union of India, 199 ITR 530 (SC), K.P.Verghese, 131 ITR 597 (SC)
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S.C.MOHANTY
• Assessee Lawyers: D.PARIDA; C.PARIDA

Judgement Text

" आयकर आयकर आयकर आयकर अपीलीय अपीलीय अपीलीय अपीलीय अिधकरण अिधकरण अिधकरण अिधकरण, कटक कटक कटक कटक \u0001यायपीठ \u0001यायपीठ \u0001यायपीठ \u0001यायपीठ,कटक IN THE INCOME TAX APPELLATE TRIBUNAL CUTTACK BENCH CUTTACK BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Miscellaneous Application No.26/CTK/2024 (Arising out of IT(SS)A No.79/CTK/2023 (िनधा\u0005रण िनधा\u0005रण िनधा\u0005रण िनधा\u0005रण वष\u0005 वष\u0005 वष\u0005 वष\u0005 / Assessment Year : 2019-2020) ACIT, Central Circle, Cuttack Vs Alashore Marine Exports Pvt. Ltd. D1/18(P), D1/19, D1/38, D1/39, Somnathpur Industrial Area, Balasore PAN No. : AALCA 2704 R (अपीलाथ\u000f अपीलाथ\u000f अपीलाथ\u000f अपीलाथ\u000f /Appellant) .. (\u0010\u0011यथ\u000f \u0010\u0011यथ\u000f \u0010\u0011यथ\u000f \u0010\u0011यथ\u000f / Respondent) िनधा\u0005\u0013रती िनधा\u0005\u0013रती िनधा\u0005\u0013रती िनधा\u0005\u0013रती क\u0016 क\u0016 क\u0016 क\u0016 ओर ओर ओर ओर से से से से /Assessee by : Shri D. Parida, CA & C.Parida, Adv राज\u0018व राज\u0018व राज\u0018व राज\u0018व क\u0016 क\u0016 क\u0016 क\u0016 ओर ओर ओर ओर से से से से /Revenue by : Shri S.C.Mohanty, Sr. DR सुनवाई क\u0002 तारीख / Date of Hearing : 24/01/2025 घोषणा क\u0002 तारीख/Date of Pronouncement : 24/01/2025 आदेश आदेश आदेश आदेश / O R D E R Per Bench : The present miscellaneous application filed by the revenue against the order of the Tribunal in IT(SS)A No.79/CTK/2023 dated 04.06.2024. 2. It was submitted by the ld. Sr. DR that the Tribunal has relied upon the decision of the Hon’ble Supreme Court in the case of C.B.Gautam Vs. Union of India, reported in 199 ITR 530 (SC) as also decision in the case of K.P.Verghese, reported in 131 ITR 597 (SC). It was submitted that in the case of C.B.Gautam (supra), the Hon’ble Supreme Court has also discussed the decision in the case of K.P.Verghese (supra). It was submitted that the interpretation in the case of C.B.Gautam (supra) has wrongly done and decision in the case of C.B.Gautam (supra) is not applicable to the facts of the present appeal. It was the submission that, at the outset, the decision in the case of C.B.Gautam (supra) was in regard to the Writ Petition as also in the case of C.B.Gautam(supra) the issue MA No.26/CTK/2024 2 was in regard to the violation of 15% in the valuation. It was the submission that the facts in the case of C.B.Gautam (supra) does not applicable to the facts of the assessee’s case. It was the submission that there was a mistake apparent from the record. 3. In reply, ld. AR on behalf of the assesee supported the order of the Tribunal. It was the submission that the Tribunal has passed the order after considering all the facts and the same is not liable to be recalled. 4. We have considered the rival submissions. A perusal of the order of the Tribunal clearly shows that the principle laid down by the Hon’ble Supreme Court in the case of C.B.Gautam (supra) has been applied. Wrong application of principle cannot be said to be a mistake apparent from the record. The applicability of the principle laid down by the Hon’ble Apex Court, if claimed to be wrong, is best to be debatable issue. This being so, as no mistake apparent from the record specifically pointed out in the facts of the case, the miscellaneous application filed by the revenue stands rejected. 5. In the result, miscellaneous application filed by the revenue is dismissed. Order pronounced in the open court on 24/01/2025. Sd/- (MANISH AGARWAL) Sd/- (GEORGE MATHAN) लेखा सद\u0003य/ ACCOUNTANT MEMBER \u0001याियक \u0001याियक \u0001याियक \u0001याियक सद\bय सद\bय सद\bय सद\bय / JUDICIAL MEMBER कटक कटक कटक कटक Cuttack; \u0003दनांक Dated 24/01/2025 Prakash Kumar Mishra, Sr.P.S. MA No.26/CTK/2024 3 आदेश आदेश आदेश आदेश क\u0002 क\u0002 क\u0002 क\u0002 \u0003ितिलिप \u0003ितिलिप \u0003ितिलिप \u0003ितिलिप अ\tेिषत अ\tेिषत अ\tेिषत अ\tेिषत/Copy of the Order forwarded to : आदेशानुसार आदेशानुसार आदेशानुसार आदेशानुसार/ BY ORDER, (Assistant Registrar) आयकर अपीलीय अिधकरण, कटक/ITAT, Cuttack 1. अपीलाथ\u0007 / The Appellant- 2. \b\tयथ\u0007 / The Respondent- 3. आयकर आयु\u0006(अपील) / The CIT(A), 4. आयकर आयु\r / CIT 5. िवभागीय \u0010ितिनिध, आयकर अपीलीय अिधकरण, कटक कटक कटक कटक / DR, ITAT, Cuttack 6. गाड\u0010 फाईल / Guard file. स\tयािपत \bित //True Copy// "