Sri Balaji Metal Industries , Hyderabad V. Asst. Commissioner of Income Tax, Circle-15(1), Hyderabad

MA 01/Hyd/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 6424 (ITAT-HYDERABAD)
• Duration Of Justice: 1 year(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 01-02-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-B
• Next Hearing Date: 22-01-2021
• Assessment Year: 2015-2016
• Appeal Filed On: 06-01-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

MA NO 1 OF 2020 SRI BALAJI METAL INDUSTRIES HYDER ABAD PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD B BENCH, HYDERABAD (THROUGH VIDEO CONFERENCING) BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER MA NO 1/HYD/2020 (ARISING OUT OF ITA NO.1726/HYD/2018) ASSESSMENT YEAR: 2015-16 SRI BALAJI METAL INDUSTRIES HYDERABAD PAN:ABIFS1509F VS. ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE 15(1) HYDERABAD (APPELLANT) (RESPONDENT) ASSESSEE BY: SRI P. MURALI MOHAN RAO REVENUE BY : SRI ROHIT MUJUMDAR, DR DATE OF HEARING: 22/01/2021 DATE OF PRONOUNCEMENT: 01/02/2021 ORDER PER SMT. P. MADHAVI DEVI, J.M. THIS APPLICATION IS FILED BY THE ASSESSEE SEEKING RECTIFICATION OF ALLEGED MISTAKE APPARENT FROM RECO RD IN THE ORDER OF THE TRIBUNAL DATED 6.12.2019 IN ITA NO.1726/HYD/ 2018. IN THIS APPLICATION, THE ASSESSEE STATES THAT THE ASSE SSEE HAS RAISED TWO GROUNDS OF APPEAL, BUT ONLY GROUND NO.1 HAS BEE N ADJUDICATED AND GROUND NO.2 HAS NOT BEEN ADJUDICATE D BY THE TRIBUNAL. THE ASSESSEE THEREFORE, SOUGHT RE-EXAMINA TION OF THE ISSUE AND PRAYED FOR RECTIFICATION OF THE ORDER OF THE TRIBUNAL. 2. THE LEARNED COUNSEL FOR THE ASSESSEE REITERATED THE SUBMISSIONS MADE IN THE APPLICATION WHILE THE LEARN ED DR SUBMITTED THAT THERE WAS NO MISTAKE APPARENT FROM T HE ORDER OF THE TRIBUNAL WHICH NEEDS RECTIFICATION. MA NO 1 OF 2020 SRI BALAJI METAL INDUSTRIES HYDER ABAD PAGE 2 OF 3 3. HAVING HEARD BOTH THE PARTIES, WE FIND THAT THE ASSESSEE HAD RAISED THE FOLLOWING GROUNDS OF APPEAL : 1. THE AO MADE THE ADDITION WITHOUT GIVING AN OPPORTUNITY TO EXPLAIN THE RATE OF INTEREST ADOPTED BY THE ASSESSEE FIRM. 2. THE MARGINAL RELIEF ON SURCHARGE OF INCOME TAX W AS NOT PROVIDED TO THE ASSESSEE FIRM. 3. ANY OTHER GROUND OR GROUNDS OF APPEAL THAT MAY B E SUBMITTED AT THE TIME OF HEARING. 4. WE HAVE GONE THROUGH THE ORDER OF THE TRIBUNAL A ND WE FIND THAT THE TRIBUNAL HAS ADJUDICATED GROUND NO .1 ONLY AND THERE IS NO ADJUDICATION WITH REGARD TO GROUND NO.2 . IN VIEW OF THE SAME, WE DEEM IT FIT AND PROPER TO RECALL THE O RDER OF THE TRIBUNAL AND ON THE AGREEMENT OF BOTH THE PARTIES, WE REMIT GROUND NO.2 TO THE FILE OF THE AO WITH A DIRECTION TO CONSIDER THE SAME IN ACCORDANCE WITH THE LAW AFTER GIVING THE AS SESSEE A FAIR OPPORTUNITY OF HEARING. ACCORDINGLY, PARA NO.5.1 IS INSERTED IN THE ORDER OF THE TRIBUNAL AFTER PARA 5 AND PARA NO.5.1 SHALL READ AS UNDER: 5.1 AS REGARDS GROUND NO.2, WE REMIT THE ISSUE TO THE FILE OF THE AO FOR DENOVO CONSIDERATION IN ACCORDANCE WITH LAW. NEEDLESS TO MENTION THAT THE ASSESSEE SHALL BE GIVEN A FAIR OPPORTUNITY OF HEARING. 5. IN THE RESULT, M.A. FILED BY THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED IN THE OPEN COURT ON 1 ST FEBRUARY, 2021. SD/- SD/- (A. MOHAN ALANKAMONY) ACCOUNTANT MEMBER (P. MADHAVI DEVI) JUDICIAL MEMBER HYDERABAD, DATED 1 ST FEBRUARY, 2021. VINODAN/SPS MA NO 1 OF 2020 SRI BALAJI METAL INDUSTRIES HYDER ABAD PAGE 3 OF 3 COPY TO: 1 M/S. SRI BALAJI METAL INDUSTRIES C/O B VITHLANI & CO. C.AS, 4-1- 10/B-12, SHEETAL, TILAK ROAD, ABIDS, HYDERABAD-50 0001 2 ACIT, CIRCLE-15(1), ROOM NO.545, 5 TH FLOOR, D-BLOCK, IT TOWERS, MASAB TANK, HYDERABAD 3 CIT (A)-7 HYDERABAD 4 PR. CIT 7 HYDERABAD 5 THE DR, ITAT HYDERABAD 6 GUARD FILE BY ORDER