DCIT,CC-1, Coimbatore V. Vasantharaju, Coimbatore

MA 106/CHNY/2023

• Counselvise Citation: [2023] 100 COUNSELVISE.COM (IT) 5651 (ITAT-CHENNAI)
• Duration Of Justice: 4 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 02-11-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 02-11-2023
• Assessment Year: 2013-2014
• Appeal Filed On: 08-06-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Source of fund

Judgement Text

आयकर अपीलीय अिधकरण, ‘ए’ यायपीठ, चे ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH: CHENNAI ी वी. दुगा राव, माननीय ाियक सद एवं ी मंजूनाथा.जी, माननीय लेखा सद के सम BEFORE SHRI V. DURGA RAO, HON’BLE JUDICIAL MEMBER AND SHRI MANJUNATHA.G, HON’BLE ACCOUNTANT MEMBER Miscellaneous Application No.106/Chny/2023 (in ITA No.1778/Chny/2017) िनधा रण वष /Assessment Year: 2013-14 The Dy. Commissioner- of Income Tax, Central Circle-1, Aayakar Bhavan, 63, Race Course Road, Coimbatore-641 018. v. Shri M. Vasantharaju, No.16, Syrian Church Road, No.1, Coimbatore-641 001. [PAN: ADGPV 6450 L] (अपीलाथ /Appellant) ( यथ /Respondent) Department by : Shri AR.V.Sreenivasan, Addl.CIT Assessee by : Shri N. Arjun Raj, CA सुनवाई क तारीख/Date of Hearing : 03.11.2023 घोषणा क तारीख /Date of Pronouncement : 03.11.2023 आदेश / O R D E R PER MANJUNATHA.G, AM: The Revenue has filed present Miscellaneous Application u/s.254(2) of the Income Tax Act, 1961, against the order of the Tribunal in ITA No.1778/Chny/2017 dated 04.01.2023, and pertains to assessment year 2013-14. MA No.106/Chny/2023 (in ITA No.1778/Chny/2017) :: 2 :: 2. The Revenue has narrated the facts of its case and mistakes stated to be apparent on record from the order of the Tribunal dated 04.01.2023 and relevant contents of Miscellaneous Application filed by the Revenue for the AY 2013-14 in ITA No.1778/Chny/2017, are reproduced as under: MA No.106/Chny/2023 (in ITA No.1778/Chny/2017) :: 3 :: MA No.106/Chny/2023 (in ITA No.1778/Chny/2017) :: 4 :: MA No.106/Chny/2023 (in ITA No.1778/Chny/2017) :: 5 :: MA No.106/Chny/2023 (in ITA No.1778/Chny/2017) :: 6 :: MA No.106/Chny/2023 (in ITA No.1778/Chny/2017) :: 7 :: 3. The Ld.Sr.DR, Shri D. Hema Bhupal, JCIT, referring to the petition filed by the AO in light of order of the Tribunal in ITA No.1778/Chny/2017 dated 04.01.2023 submitted that there is an error in the findings of the Tribunal in so far as source for purchase of property and as per the AO, the balance amount of Rs.20,44,000/- for source for purchase of property is not explained. The Ld.DR explained the case with reference to analysis of source of funds of the assessee and investment in property as per Para No.5 of petition filed by the AO and submitted that although, there was a shortage of funds to the tune of Rs.20,44,000/-, but the Tribunal has given relief to the assessee. Therefore, he submitted that findings of the Tribunal constitute a mistake apparent on record which needs to be rectified. 4. The Ld.Counsel for the assessee Shri Girish, Advocate, for Shri S.Sridhar, Advocate, submitted that the Revenue has failed to make out a case of prima facie mistake apparent on record from the order of the Tribunal, but the AO seeks to review the decision rendered by the Tribunal in the given facts and circumstances, which is not permissible under the law. Therefore, he submitted that Miscellaneous Application filed by the Revenue should be dismissed. 5. We have heard both the sides and considered the contents of Miscellaneous Application filed by the Revenue in light of order of the Tribunal in ITA No.1778/Chny/2017 dated 04.01.2023, and we find that the Tribunal has given its findings in respect of source for purchase of property MA No.106/Chny/2023 (in ITA No.1778/Chny/2017) :: 8 :: and recorded its categorical findings in Para No.6 of the order that the assessee is having source to the extent of Rs.2.88 Crs. whereas the amount invested for purchase of property of Rs.2.38 Crs. The AO has filed petition and contended that there is a shortage of Rs.20.44 lakhs. We find that facts brought on record in the assessment order and now the facts explained by the AO altogether different. The AO has analyzed the fund position of the assessee with reference to investment made in property which is not at all the case of the AO during original assessment proceedings. The AO seeks to review the decision of the Tribunal by adducing new facts which were not before the Tribunal at the time of rendering the decision. Therefore, we are of the considered view that the petition filed by the Revenue to recall the order of the Tribunal dated 04.01.2023 is nothing but seeking to review the decision rendered in the given facts and circumstances of the case, and thus, we are of the considered view that, there is no merit in the Miscellaneous Application filed by the Revenue and thus, the same is dismissed. 6. In the result, the Miscellaneous Application filed by the Revenue is dismissed. Order pronounced on the 03 rd day of November, 2023, in Chennai. Sd/- (वी. दुगा राव) (V. DURGA RAO) याियक सद य/JUDICIAL MEMBER Sd/- (मंजूनाथा.जी) (MANJUNATHA.G) लेखा सद य/ACCOUNTANT MEMBER MA No.106/Chny/2023 (in ITA No.1778/Chny/2017) :: 9 :: चे ई/Chennai, दनांक/Dated: 03 rd November, 2023. TLN आदेश क ितिलिप अ ेिषत/Copy to: 1. अपीलाथ /Appellant 3. आयकर आयु /CIT 5. गाड फाईल/GF 2. यथ /Respondent 4. िवभागीय ितिनिध/DR