Appeal details
Counselvise Citation
[2025] 140 COUNSELVISE.COM (IT) 311730 (ITAT-CHENNAI)
Assessee PAN
Bench
Appeal Number
Appellant
Respondent
Appeal Type
Miscellaneous Application
Pronouncement Date
02-05-2025
Appeal Filed By
Department
Order Result
Allowed
Bench Allotted
C
Assessment Year
2012-2013
Judgement Text
"आयकर अपीलीय अिधकरण, ’सी’ \u0010ा यपीठ, चे\u0015ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI \u0018ी यस यस िव\u001aने रिव, \u0010ा ियक सद एवं \u0018ी जगदीश, लेखा सद क े सम& BEFORE SHRI SS VISWANETHRA RAVI, JUDICIAL MEMBER AND SHRI JAGADISH, ACCOUNTANT MEMBER M.A No.103, 104, 105 & 106/Chny/2024 (Arising out of ITA Nos.3073 to 3076/Chny/2019) िनधा 'रण वष' /Assessment Years: 2011-12, 2012-13, 2013-14 & 2014-15 The Dy. Commissioner of Income Tax (Exemptions), Coimbatore. Vs. M/s. Aurolab Trust, No.1, Sivaganagai Main Road, Veerapanjan, Madurai – 625 020. [PAN: AAATA 1142P] (अपीलाथ\u0007/Appellant) (\b यथ\u0007/Respondent) अपीला थ* की ओर से/ Assessee by : Shri K. Ravi, Advocate ,-थ* की ओर से /Revenue by : Shri Keerthi Narayanan, JCIT सुनवा ई की ता रीख/Date of Hearing : 25.04.2025 घोषणा की ता रीख /Date of Pronouncement : 02.05.2025 आदेश / O R D E R PER JAGADISH, A.M : By way of these Miscellaneous Applications (MAs), the Revenue seeks rectification of the orders passed by the Tribunal in ITA Nos.3073 to 3076/Chny/2019 dated 21.08.2024. 2. The Revenue has filed the present M.As to modify the direction given to A.O in para 18 of the order to re-compute the income on the M.A Nos.103 to 106/Chny/2025 :- 2 -: basis of profit and loss account submitted during the course of assessment proceedings. 3. The Ld. Departmental Representative (DR) has submitted that there is no infirmity in the order of the Hon’ble Tribunal and referred to para 18 of the order submits that the Tribunal has directed the A.O to re-compute the income on the basis of the profit and loss account submitted during the course of assessment, the same should be modified by giving direction to the A.O to verify the income computation claim made by the assessee after giving a reasonable opportunity to the assessee rather than simply accepting the profit and loss submitted. Further, he submits that no prejudice would cause to the assessee by giving such direction. 4. We have heard the rival submissions, and perused the materials available on record. We find that direction to A.O to re-compute the income was given on the submission of Ld. AR that the A.O in the assessment order has started computation of income from total receipt, rather than net profit in profit and loss account. The direction given to A.O to re-compute the income on the basis of the profit and loss account submitted during the course of assessment proceedings implied to re-compute the income starting from the profit in profit and M.A Nos.103 to 106/Chny/2025 :- 3 -: loss account submitted by the assessee, after due verification and by following the principles of natural justice. We find force in the submission of Ld. D.R that no prejudice would cause to the assessee by giving such direction, in fact, in our opinion it is beneficial to the assessee. All the M.A.s are answered in the above terms. 5. In the result, all the M.A.s filed by the Revenue are allowed. Order pronounced on 02nd May, 2025. Sd/- Sd/- (यस यस िव\u001aने रिव) (SS Viswanethra Ravi) \u0001याियक \u0001याियक \u0001याियक \u0001याियक सद\bय सद\bय सद\bय सद\bय / Judicial Member (जगदीश) (Jagadish) लेखा सद /Accountant Member चे\u0010नई/Chennai, \u0013दनांक/Dated: 02nd May, 2025. EDN/- आदेश क\u0016 \bितिल\u0019प अ\u001aे\u0019षत/Copy to: 1. अपीलाथ\u0007/Appellant 2. \b थ\u0007/Respondent 3. आयकर आयु\u000f/CIT, Coimbatore 4. िवभागीय \bितिनिध/DR 5. गाड\u0018 फाईल/GF "
AI Insights
The case involves the Revenue's Miscellaneous Applications seeking rectification of the Tribunal's earlier orders regarding the computation of income for M/s. Aurolab Trust for the assessment years 2011-12 to 2014-15. The Revenue contended that the Tribunal's direction to the A.O to re-compute income based on the profit and loss account submitted by the assessee should be modified to include a verification process. The Tribunal agreed with the Revenue's position, emphasizing the need for a verification process to ensure accurate income computation, thus allowing the MAs.
