Sitaram Jindal Foundation, Bangalore V. The Principal Commissioner Of Income Tax (OSD) (Exemptions), Bangalore

MA 102/BANG/2023

AI Insights

The case involves M/s. Sitaram Jindal Foundation, which filed a miscellaneous petition seeking corrections in the Tribunal's earlier order dated 04.01.2023 concerning ITA No. 207/Bang/2021 for the assessment year 2017-18. The petition addressed typographic errors in the reported amount of cash deposits during the demonetisation period and requested clarification on the relevance of certain books for the business carried out by the assessee. The Tribunal acknowledged the errors and made the necessary corrections and clarifications, ensuring the accuracy of the recorded details and the scope of verification by the Assessing Officer.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 124511 (ITAT-BANGALORE)
• Duration Of Justice: 2 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 25-05-2023
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: C
• Next Hearing Date: 25-05-2023
• Assessment Year: 2017-2018
• Appeal Filed On: 02-03-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 22

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH : BANGALORE BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER M.P. No. 102/Bang/2023 (in ITA No. 207/Bang/2021) Assessment Year : 2017-18 M/s. Sitaram Jindal Foundation, 16 th KM JNI Complex, Tumkur Road, Jindal Nagar, Bangalore – 560 073. PAN: AAATS3638N Vs. The Principal Commissioner of Income-tax (OSD) (Exemptions), Bengaluru. APPELLANT RESPONDENT Assessee by : Shri S. Parthasarthi, Advocate Revenue by : Shri Netrapal M S, Addl. CIT (DR) Date of Hearing : 26-05-2023 Date of Pronouncement : 26-05-2023 ORDER PER BEENA PILLAI, JUDICIAL MEMBER Present miscellaneous petition is filed by assessee seeking certain typographic mistakes crept in the Tribunal order dated 04.01.2023 in ITA No. 207/Bang/2021. 2. The first issue raised in the miscellaneous petition is in respect of the amount wrongly mentioned in para 7.3 regarding the cash deposits made during the demonetisation period in specified Page 2 M.P. No. 102/Bang/2023 (in ITA No. 207/Bang/2021) bank notes. On perusal of the records, we note that the amount mentioned in para 7.3 needs to be corrected. Henceforth the amount in para 7.3 shall be read as Rs.7.5 crores. 3. Regarding the next issue, the Ld.AR submitted that in para 7.5.1, certain books mentioned therein are not relevant for the business carried out by the assessee. He thus requested for clarification in respect of the documents that has to be verified. Considering the above submission, we add the following lines at the end of para 7.5.1 which shall be read in continuity with para 7.5.1. “7.5.1....................................parameters are not. The Ld.AO is directed to call for the necessary details to verify any back dated cash deposits having regard to the business of the assessee and to call for necessary books that is generally maintained in the service sector where assessee is catering in order to verify any fictitious jump or any suspicious back dating of cash during the relevant assessment year as compared to earlier years.” 4. The Ld.AR submitted that the conclusion recorded at page 22 needs to be modified in respect of grounds 9 & 10. As these issues have been remanded to the Ld.AO, we note this submission of Ld.AR to be correct. Henceforth the conclusion at page 22 shall be read as under: “Accordingly, the ground nos. 3 & 8 stands allowed, ground nos. 9 & 10 raised by the assessee stands partly allowed for statistical purposes.” Page 3 M.P. No. 102/Bang/2023 (in ITA No. 207/Bang/2021) 5. The rest of the contents of order dated 04/01/2023 passed by this Tribunal shall remain unchanged. In the result, the M.P. filed by the assessee stands partly allowed. Order pronounced in the open court on 26 th May, 2023. Sd/- Sd/- (LAXMI PRASAD SAHU) (BEENA PILLAI) Accountant Member Judicial Member Bangalore, Dated, the 26 th May, 2023. /MS / Copy to: 1. Appellant 4. CIT(A) 2. Respondent 5. DR, ITAT, Bangalore 3. CIT 6. Guard file By order Assistant Registrar, ITAT, Bangalore