M/S PRICELESS OVERSEAS LTD.,NEW DELHI V. ITO, NEW DELHI

MA 28/DEL/2024

AI Insights

The case involves M/s Priceless Overseas Ltd., the appellant, who filed a Miscellaneous Application against an order of the Income Tax Appellate Tribunal, Delhi, concerning the Assessment Year 2012-13. The application was based on alleged factual errors in the Tribunal's previous order. The respondent in the case is the ITO Ward-20(2). The Tribunal, after hearing both parties, decided that the application to revisit the facts was not permissible and referenced judgments from the Supreme Court to support their decision. The Tribunal dismissed the application, upholding the original decision without any amendments.

• Counselvise Citation: [2026] 140 COUNSELVISE.COM (IT) 827116 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 11 month(s) 18 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 07-01-2026
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2012-2013
• Appeal Filed On: 20-01-2024
• Other Referred Cases: ACIT vs. Saurashtra Kutch Stock Exchange Ltd. (2008) 173 Taxman 322 (SC), CIT vs. Reliance Telecom Ltd (2021) 133 taxmann.com 41 (SC)
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MANISH GUPTA

Judgement Text

"1 M.A No. 28/DDN/2024 M/s Priceless Overseas Ltd. Vs. ITO IN THE INCOME TAX APPELLATE TRIBUNAL DELHI DELHI BENCH ‘F’ NEW DELHI BEFORE SH. YOGESH KUMAR U.S., JUDICIAL MEMBER & SH. MANISH AGARWAL, ACCOUNTANT MEMBER M. A NO. 28/Del/2024 (A.Y 2012-13 in ITA No.6320/Del/2016) M/s Priceless Overseas Ltd. A-30, 2nd Floor, Kailash Colony, New Delhi- 110002 PAN-AAACP7636C (APPELLANT) vs ITO Ward-20(2), Room No. 218, 2nd floor, C. R. Building, I. P. Estate, New Delhi (RESPONDENT) Applicant by Shri V. K. Bindal, CA Respondent by Shri. Manish Gupta, Sr. DR ORDER PER YOGESH KUMAR U.S., JUDICIAL MEMBER: The above mentioned Miscellaneous Application is filed in respect of the order dated 14/12/2023 passed by the Tribunal in ITA Nos. 6320/Del/2016 pertaining to Assessment Year 2012-13. 2. The Ld. Counsel submitted that the Tribunal has committed certain factual errors in Para 7, 8.3, 8.6 of the order of the Tribunal and the Ld. Assessee's Representative taken us through the averments made in the Miscellaneous Application and sought for allowing the present Application. 3. Per contra, ld. DR submitted that the order of the Tribunal is well reasoned, which requires no interference at hands of the Date of Hearing 05.12.2025 Date of Pronouncement 07.01.2026 Printed from counselvise.com 2 M.A No. 28/DDN/2024 M/s Priceless Overseas Ltd. Vs. ITO Tribunal. Thus, sought for dismissal of the Miscellaneous application filed by the Assessee. 4. We have heard both the parties and perused the material available on record. Ongoing through the pleadings in the Miscellaneous Application, it is found that the Assessee is seeking to re-visit the facts by way of this Application, which is not permissible in these proceedings. Further, as could be seen from the order of the Tribunal, the Tribunal has restored the issue involved in the Appeal to the file of the Ld. CIT(A) for fresh determination in accordance with law. Therefore, in light of the Judgment reported in ACIT vs. Saurashtra Kutch Stock Exchange Ltd. (2008) 173 Taxman 322 (SC) and CIT vs. Reliance Telecom Ltd (2021) 133 taxmann.com 41 (SC), we find no reason to entertain the present Miscellaneous application filed by the Assessee. Accordingly, Miscellaneous Application filed by the Assessee is dismissed. Order pronounced in the open court on 07/01/2026. Sd/- Sd/- (MANISH AGARWAL) (YOGESH KUMAR U.S.) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 07/01/2026 R.N, Sr. PS Printed from counselvise.com 3 M.A No. 28/DDN/2024 M/s Priceless Overseas Ltd. Vs. ITO Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi Printed from counselvise.com "