Navkar Share & Stock Brokers Pvt. Ltd., Ahmedabad V. The Dy.CIT., Circle-3, Ahmedabad

ITA 699/AHD/2011

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 80429 (ITAT-AHMEDABAD)
• Duration Of Justice: 3 year(s) 7 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-10-2014
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 16-10-2014
• Assessment Year: 2007-2008
• Appeal Filed On: 04-03-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: DINESH SINGH
• Keywords: Rectification of order
• Section: 32; 154

Judgement Text

, , , , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, AHMEDABAD 0 00 0 0 00 0 , , , , !'# !'# !'# !'# !$ !$!$ !$0 00 0! !! !0 00 0 %$ %$ %$ %$, , , , &' ( &' ( &' ( &' ( & & & & BEFORE SHRI G.C. GUPTA, VICE PRESIDENT AND SHRI AND SHRI N.S. SAINI, ACCOUNTANT MEMBER ITA NO. 699/AHD/2011 ASSESSMENT YEAR: 2007-08 NAVKAR SHARES & STOCK BROKER P. LTD. 3, VIMLA COMPLEX, OLD SHARDAMANDIR ROAD, ELLISBRIDGE, AHMEDABAD. PAN: AABCN0385P VS. DY. COMMISSIONER OF INCOME TAX, CIRCLE-3, AHMEDABAD. )* / APPELLANT +,)* / RESPONDENT REVENUE BY : SHRI DINESH SINGH, SR. DR ASSESSEE(S) BY : SHRI TUSHAR HEMANI, AR $'- . /'/ // / DATE OF HEARING : 16/10/2014 123 . /' / // / DATE OF PRONOUNCEMENT: 17/10/2014 &4 &4 &4 &4/ // / O R D E R PER SHRI N.S. SAINI, ACCOUNTANT MEMBER: THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST T HE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-XVI, AHMEDABAD DATED 05.01.2011. 2. THE ASSESSEE HAS TAKEN FOLLOWING GROUNDS OF APP EAL: 1. LEARNED CIT(A) HAS ERRED IN LAW AND ON FACTS IN RECALLING AND RECTIFYING THE ORDER PASSED BY HIS PREDECESSOR U/S 154 OF THE ACT WITHOUT THERE BEING ANY MISTAKE, MUCH LE SS MISTAKE APPARENT FROM THE RECORD. THIS ACTION OF ID . CIT(A) IS OUT SIDE THE PURVIEW, OF RECTIFIABLE MISTAKES AP PARENT FORM THE RECORD AS ENVISAGED U/S 154 OF THE ACT. AS A ITA NO. 699/AHD/2011 NAVKAR SHARES & STOCK BROKER P. LTD., AHMEDABAD. AY 2007-08 - 2 - MATTER OF FACT THE ALLEGED MISTAKE APPARENT FROM RE CORD INVOLVES INVESTIGATION OF FACTS AND APPRECIATION OF EVIDENCES AND THEREFORE UNDER NO CIRCUMSTANCES THE SAID ISSUE CAN BE SAID TO BE A MISTAKE APPARENT FROM REC ORD SO AS TO FALL WITHIN THE PURVIEW OF S. 154 OF THE ACT AND THUS THE RECTIFICATION ORDER PASSED BY ID. C1T(A) IS WIT HOUT JURISDICTION, ILLEGAL AND BAD IN LAW AND DESERVES T O BE QUASHED. 2. LEARNED CIT(A) HAS ERRED IN LAW AND ON FACTS IN HOLDING THAT THE APPELLANT IS NOT ELIGIBLE TO CLAIM DEPRECI ATION ON STOCK EXCHANGE CARD. IN THE PROCESS THE LEARNED CIT (A) HAS ERRED IN NOT APPRECIATING THE SCHEME OF SECTION 32 OF THE ACT AT ALL. 3. EVEN OTHERWISE, THE ORDER PASSED BY THE CIT(A) U /SL54 OF THE ACT IS BAD IN LAW AND WITHOUT JURISDICTION. 3. THE ABOVE APPEAL IS ARISING OUT OF THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) PASSED U/S. 154 OF THE ACT DATED 05.01.2011. WE FIND THAT THE TRIBUNAL HAS ALREADY DECIDED THE ISSU E VIDE ORDER DATED 08.03.2011 PASSED IN ITA NO. 3247/AHD/2010 FOR ASSE SSMENT YEAR 2007-08 AND ALSO DISMISSED MISCELLANEOUS APPLICATION FILED BY THE REVENUE VIDE ITS ORDER DATED 13.01.2012 IN MA NO. 147/AHD/2011. 4. IN VIEW OF THE ABOVE DECISION OF THE TRIBUNAL, THE APPEAL FILED BY THE ASSESSEE HAS BECOME INFRUCTUOUS AND ACCORDINGLY THE SAME IS DISMISSED. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DI SMISSED. ORDER PRONOUNCED IN THE COURT ON FRIDAY, THE 17 TH OF OCTOBER, 2014 AT AHMEDABAD. SD/- SD/- (G. C. GUPTA) JUDICIAL MEMBER ( N.S. SAINI) ACCOUNTANT MEMBER AHMEDABAD; DATED 17/10/2014 GHANSHYAM MAURYA