M/s. Magnum Sea Foods Limited, Bhubaneswar V. DCIT,Central Circle-2, Bhubaneswar, Bhubaneswar

MA 11/CTK/2024

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 1747 (ITAT-CUTTACK)
• Duration Of Justice: 1 month(s) 29 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 06-06-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 06-06-2024
• Assessment Year: 2012-2013
• Appeal Filed On: 08-04-2024
• Result in Favour of: Revenue
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, BEFORE MANISH AGARWAL Magnum Sea Food Sector-A, Zone PAN/GIR No (Appellant Per George Mathan, JM This is a miscellaneous application filed by the assessee in the order of the assessment year 2. Shri So S.C.Mohanty, ld Sr. 3. It was submitted by ld AR that for the earlier assessment years, the Tribunal has granted the the Act. It was the submission that during the relevant assessment year, IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE SHRI GEORGE MATHAN, JUDICIAL AND MANISH AGARWAL, ACCOUNTANT MEMBER M.A.No.11/CTK/2024 (in ITA No.61/CTK/2023) Assessment Year : 2012-2013 Magnum Sea Foods Ltd., 132-A, A, Zone-A, Mancheswar. Vs. DCIT, Central Circle Bhubaneswar. PAN/GIR No. (Appellant) .. ( Respondent Assessee by : Shri Sourav Kejriwal, CA Revenue by : Shri S.C.Mohanty, Sr. Date of Hearing : 07/0 Date of Pronouncement : 07/0 O R D E R George Mathan, JM This is a miscellaneous application filed by the assessee in the ITAT in ITA No.61/CTK/2023 dated 19,. assessment year 2012-13. Sourav Kejriwal, ld AR appeared for the assessee and Shri S.C.Mohanty, ld Sr. DR appeared for the revenue. It was submitted by ld AR that for the earlier assessment years, the Tribunal has granted the assessee the benefit of deduction u/s.80IB(11A) of the Act. It was the submission that during the relevant assessment year, Page1 | 3 IN THE INCOME TAX APPELLATE TRIBUNAL, JUDICIAL MEMBER , ACCOUNTANT MEMBER 23) 2013 DCIT, Central Circle-2, Bhubaneswar. Respondent) urav Kejriwal, CA S.C.Mohanty, Sr. DR 06/2024 /06/2024 This is a miscellaneous application filed by the assessee in the the ITAT in ITA No.61/CTK/2023 dated 19,.10.2023 for the the assessee and Shri It was submitted by ld AR that for the earlier assessment years, the assessee the benefit of deduction u/s.80IB(11A) of the Act. It was the submission that during the relevant assessment year, M.A.No.11/CTK/2024 (in ITA No.61/CTK/2023) Assessment Year : 2012-2013 Page2 | 3 the same has been denied. It was the submission that the order of the Tribunal is liable to be reviewed. 4. In reply, ld Sr DR vehemently supported the order of the Tribunal. It was the submission that the Tribunal has followed the decision of the Hon’ble Supreme Court in the case of Saraf Exports, reported in 149 taxmann.com 145(SC). It was the submission that once the Hon’ble Supreme Court has settled the issue, it should be deemed to have been settled from the beginning of time itself. 5. We have considered the rival submissions. A perusal of the miscellaneous application of the assessee shows that the assessee is asking for reviewing the order of the Tribunal. Admittedly, the Tribunal cannot review its own decision u/s.254(2) of the Act. Further, the Tribunal has decided the issue on the basis of principles laid down by the Hon’ble Supreme Court in the case of Saraf Exports (supra). No error specifically has been pointed by ld AR in the order of the Tribunal. This being so, the Miscellaneous application filed by the assessee stands dismissed. 6. In the result, M.A. of the assessee stands dismissed. Order dictated and pronounced in the open court on 07/06/2024. Sd/- sd/- (Manish Agarwal) (George Mathan) ACCOUNTANT MEMBER JUDICIAL MEMBER Cuttack; Dated 07/06/2024 B.K.Parida, SPS (OS) M.A.No.11/CTK/2024 (in ITA No.61/CTK/2023) Assessment Year : 2012-2013 Page3 | 3 Copy of the Order forwarded to : By order Sr.Pvt.secretary ITAT, Cuttack 1. The Appellant : Magnum Sea Foods Ltd., 132- A, Sector-A, Zone-A, Mancheswar 2. The Respondent: DCIT, Central Circle-2, Bhubaneswar. 3. The CIT(A)- 2, Bhubaneswar 4. Pr.CIT, -2, Bhubaneswar 5. DR, ITAT, 6. Guard file. //True Copy//