DHARMDEEP COMMODITIES PVT. LTD.,AHMEDABAD V. THE ACIT, CIRCLE-1(1)(1) (PREVIOUSLY CIRCLE-1(1)(2)), AHMEDABAD

MA 131/AHD/2025

AI Insights

The case involves Dharmdeep Commodities Pvt. Ltd., the applicant, and the ACIT, Circle-1(1)(1), Ahmedabad, the respondent. The dispute centered on an addition made under section 68 of the Income Tax Act, 1961, concerning the Assessment Year 2014-15. The Tribunal initially restricted this addition to the profit element in commodity transactions but erroneously concluded the appeal as dismissed. The assessee filed a Miscellaneous Application under section 254(2) of the Act to rectify this apparent mistake. The Tribunal acknowledged the error and corrected the conclusion to reflect that the appeal was partly allowed, thus granting partial relief to the assessee.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 835211 (ITAT-AHMEDABAD)
• Duration Of Justice: 1 month(s) 19 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-02-2026
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2014-2015
• Appeal Filed On: 24-12-2025
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Transactions in derivatives
• Section: 68

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, AHMEDABAD BEFORE DR. B.R.R. KUMAR, VICE-PRESIDENT SHRI SIDDHARTHA NAUTIYAL, JUDICIAL MEMBER MA No. 131/Ahd/2025 (In ITA No. 398/Ahd/2023) Dharmdeep Commodities Pvt. Ltd. 301-306, Anmol Business Colony, Darpan Six Roads, Navrangpura, Ahmedabad-380009 [PAN : AAAAA 2329 R] Vs. ACIT, Circle-1(1)(1), Ahmedabad (Applicant) .. (Respondent) Applicant represented by : Shri Kushal Fofaria, AR Respondent represented by: Shri Abhijit, Sr DR Date of Hearing 13.02.2026 Date of Pronouncement 13.02.2026 O R D E R PER DR. B.R.R. KUMAR, VICE-PRESIDENT:- This Miscellaneous Application is filed by the Assessee under section 254(2) of the Income Tax Act, 1961 (“the Act”) seeking rectification of the order dated 24.06.2025, passed by the Tribunal in ITA No. 398/Ahd/2023, pertaining to the Assessment Year 2014-15. 2. In paragraph 9 of the said order, the Tribunal restricted the addition made under section 68 of the Act to the profit element embedded in the commodity transactions. However, the concluding sentence reads: “Appeal of the assessee on this ground is dismissed.” 3. Since relief was granted by restricting the addition, the above sentence is an apparent mistake on record. Accordingly, the concluding sentence of paragraph No. 9 is rectified and shall be read as under: “Appeal of the assessee on this ground is partly allowed.” Printed from counselvise.com MA No. 131/Ahd/2025 Dharmdeep Commodities Pvt Ltd Vs. ACIT Asst. Years : 2014-15 - 2– 4. Except for the above rectification, the order dated 24.06.2025 remains unchanged. 5. In the result, the Miscellaneous Application filed by the assessee is allowed. The order is pronounced in the open Court on 13.02.2026 Sd/- Sd/- (SIDDHARTHA NAUTIYAL) (DR. B.R.R. KUMAR) JUDICIAL MEMBER VICE-PRESIDENT Ahmedabad; Dated 13.02.2026 btk आदेश की \u0007ितिलिप अ ेिषत/Copy of the Order forwarded to : 1. अपीलाथ\u0007 / The Appellant 2. \b थ\u0007 / The Respondent. 3. संबंिधत आयकर आयु\u0015 / Concerned CIT 4. आयकर आयु\u0015(अपील) / The CIT(A)- 5. िवभागीय \bितिनिध, आयकर अपीलीय अिधकरण, अहमदाबाद / DR, ITAT, Ahmedabad 6. गाड फाईल / Guard file. आदेशानुसार/ BY ORDER, True Copy सहायक पंजीकार (Dy./Asstt. Registrar) आयकर अपीलीय अिधकरण, अहमदाबाद / ITAT, Ahmedabad 1. Date of dictation …words processed by the Hon’ble VP on in PC on …13.02.2026…… 2. Date on which the typed draft is placed before the Dictating Member …….13.02.2026…… 3. Other Member ………….13.02.2026……………… 4. Date on which the approved draft comes to the Sr.P.S./P.S ………….13.02.2026………………… 5. Date on which the fair order is placed before the Dictating Member for pronouncement ………13.02.2026…… 6. Date on which the fair order comes back to the Sr.P.S./P.S 13.02.2026………………… 7. Date on which the file goes to the Bench ………….13.02.2026 8. Date on which the file goes to the Head Clerk…………………………………... 9. The date on which the file goes to the Assistant Registrar for signature on the order 10. Date of Dispatch of the Order…………………………………… Printed from counselvise.com "