M/s Stylam Industries Ltd., Chandigarh V. DCIT, Chandigarh

MA 106/CHANDI/2018

• Counselvise Citation: [2018] 111 COUNSELVISE.COM (IT) 1468 (ITAT-CHANDIGARH)
• Duration Of Justice: 5 month(s) 23 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-10-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 11-04-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MANJIT SINGH

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH A, CHANDIGARH BEFORE SMT. DIVA SINGH, JUDICIAL MEMBER AND DR. B.R.R. KUMAR, ACCOUNTANT MEMBER M.A. NO. 106/CHD/2018 (IN ITA NO. 922/CHD/2017) (ASSESSMENT YEARS: 2012-13) STYLAM INDUSTRIES LTD. VS. THE DCIT SCO-14, SECTOR-7C CIRCLE1(1) CHANDIGARH CHANDIGARH PAN: AAACG5969R (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI. VINEET KRISHAN DEPARTMENT BY : SHRI. MANJIT SINGH DATE OF HEARING : 28/09/2018 DATE OF PRONOUNCEMENT : 04/10/2018 O R D E R PER DR.B.R.R.KUMAR, A.M . : THE PRESENT MISC. APPLICATION HAVE BEEN FILED BY TH E ASSESSEE PRAYING FOR RECTIFICATION IN THE ORDER DATED 28/11/2017 IN ITA 922/CHD/2017 PERTAINING TO 2012-13 ASSESSMENT YEAR. THE RELEVANT PORTION OF TH E MISC. APPLICATION IS REPRODUCED HEREUNDER: FIRST TYPOGRAPHICAL ERROR IS IN PARA NO. 7 REGARD ING ADVANCES GIVEN, FIGURE MENTIONED IS RS. 4,13,848/- WHEREAS CORRECT FIGURE IS RS. 34,48,733/ -. THE FIGURE OF RS. 4,13,848/- IS THE AMOUNT OF INTEREST DISALLOWED UNDER SECTION 36(I)(III) OF THE INCOME TAX ACT, 1961 BY THE ID. ASSESSING OFFICER ON THE ADVANCES OF RS. 34,48,733/ -. SECOND TYPOGRAPHICAL ERROR IS REGARDING DISALLOWANC E ON INTEREST, IN PARA O. 8, IT IS MENTIONED THAT DISALLOWANCE MADE ON INTEREST AMOUNT ING TO RS. 4,94,811/- IS THEREFORE DELETED. IN THIS REGARD IT IS SUBMITTED THAT AMOUNT OF DISALLOWANCE MADE BY LD ASSESSING OFFICER AND UPHELD BY LD COMMISSIONER OF INCOME TAX (APPEALS) WAS RS. 4,13,848/- AND NOT RS. 4,94,811/-. THE TYPOGRAPHICAL MISTAKES ARE HEREBY CORRECTED. CORRIGENDUM PARA NO .7- THE FIGURE OF RS. 4,13,848/- BE READ AS RS. 34,48,733/-. PARA NO. 8- THE FIGURE OF RS. 4,94,811/- BE READ AS RS. 4,13,848/-. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (DIVA SINGH) (DR. B.R.R. KUMAR) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 04/10/2018 AG COPY TO: 1.THE APPELLANT, 2. THE RESPONDENT, 3. THE CIT(A), 4. THE CIT, 5. THE DR