Paramount Biotech Industries Ltd., V. DCIT, Circle-14(1),

ITA 1877/DEL/2005

• Counselvise Citation: [2012] 140 COUNSELVISE.COM (IT) 58544 (ITAT-DELHI)
• Duration Of Justice: 6 year(s) 9 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-01-2012
• Appeal Filed By: Assessee
• Bench Allotted: F
• Next Hearing Date: 30-01-2012
• Assessment Year: 2001-2002
• Appeal Filed On: 19-04-2005
• Court: TRIBUNAL
• Department Lawyers: B R R KUMAR
• Assessee Lawyers: S D KAPILA
• Keywords: Rectification of order

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH F NEW DELHI) BEFORE SMT. DIVA SINGH, JUDICIAL MEMBER AND SHRI B.K. HALDAR, ACCOUNTANT MEMBER I.T.A. NO.1876/DEL/2005 & I.T.A. NO.1877 /DEL/2005 ASSESSMENT YEAR : 2001-02 M/S PARAMOUNT BIOTECH DCIT, INDUSTRIES LTD., F-7, 3 RD FLOOR, CIRCLE-14 (1), EAST OF KAILASH, N. DELHI. V. NEW DELHI. (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI S.D. KAPILA, ADVOCATE. RESPONDENT BY : SHRI BRR KUMAR, SR. DR. ORDER PER BENCH: THESE ARE TWO APPEALS FILED BY THE ASSESSEE AGAINST THE RESPECTIVE ORDERS OF LD CIT(A) XVII, NEW DELHI IN AP PEAL NO.32/04-05 & 05/04-05 BOTH DATED 1.3.2005 FOR ASSESSMENT YEAR 2001 -02. FOR THE SAKE OF CONVENIENCE, BOTH THE APPEALS ARE BEING DISPOSE D OFF BY THIS COMMON ORDER. 2. IN APPEAL NO.1876/DEL/2005, THE ASSESSEE HAS TAKEN TH E FOLLOWING GROUNDS OF APPEALS:- 1. THE LD CIT(A) HAS ERRED IN LAW BY DISALLOWING THE CAR RY FORWARD OF AGRICULTURAL UN-ABSORBED LOSSES FOR SET OFF AGAINST THE A GRICULTURAL PROFITS EARNED DURING THE CURRENT YEAR. I.T.A.NO.1876 & 1877/DEL/05 2. THE APPELLANT BEGS LEAVE TO ADD/AMEND/ALTER ANY GRO UND AT THE TIME OF HEARING. 3. IN APPEAL NO.1877/DEL/2005, THE ASSESSEE HAS TAKEN TH E FOLLOWING GROUND OF APPEALS:- 1. THE LD CIT(A) HAS ERRED IN LAW BY UPHOLDING THE PASSIN G OF A CORRIGENDUM ORDER BY THE ASSESSING OFFICER BY TREATING IT AS AN ORDER OF RECTIFICATION. 2. THE ORDER OF LD CIT(A) IS BAD IN LAW AS RECTIFICATION OF ORDERS CAN ONLY BE DONE UNDER THE INCOME TAX ACT FOR PASSING COR RIGENDUM ORDER AND ALTERING THE FACTUAL BASIS OF THE ASSESSMENT OR DER. THE CIT(A) HAS GROSSLY ERRED IN LAW BY TREATING FACTUA L CHARGES AS MADE IN CORRIGENDUM ORDER AS MISTAKES APPARENT ON THE FACT OF THE RECORD, WHEN SUCH FACTS ARE NOT THERE ON THE RECO RD. 3. THE ORDER OF CIT(A) IN CONFIRMING THE ASSESSING OFFICER S CORRIGENDUM ORDER IS PERVERSE AND BAD IN LAW, HENCE N EEDS TO BE STRUCK DOWN. 4. THE APPELLANT BEGS LEAVE TO ADD/ ALTER/ AMEND ANY GR OUND AT THE TIME OF HEARING. 5. AT THE TIME OF HEARING, THE LD AR FOR THE ASSESSEE H AS SOUGHT TO WITHDRAW BOTH THE APPEALS. SUCH REQUEST OF WITHDRAWA L OF THE APPEALS ARE BEING ALLOWED AND BOTH THE APPEALS ARE DISMISSED A S WITHDRAWN. 6. IN THE RESULT, THE APPEALS OF THE ASSESSEE ARE DISMISSED. 7. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE OF HEARING I.E. 30 TH JANUARY, 2012. SD/- SD/- (DIVA SINGH) (B.K. HALD AR) JUDICIAL MEMBER ACCOUNTANT MEMBER I.T.A.NO.1876 & 1877/DEL/05 DT. 30.1.2012. HMS COPY FORWARDED TO:- 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT (A)-, NEW DELHI. 5. THE DR, ITAT, LOKNAYAK BHAWAN, KHAN MARKET, NEW DEL HI. TRUE COPY. BY ORDER