THE ACIT, Visakhapatnam V. U.B.Elastomers Ltd., Visakhapatnam

MA 11/VIZ/2014

• Counselvise Citation: [2014] 124 COUNSELVISE.COM (IT) 2649 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 7 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 03-12-2014
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: misc
• Appeal Filed On: 26-11-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D KOMALI KRISHNA

Judgement Text

1 M.A.NO.11/VIZ/2014 (ARISING OUT OF I.T.A. NOS.369 TO 374/VIZ/2014) ASSESSMENT YEARS: 2003-2004 TO 2008-09 IN THE INCOME TAX APPELLATE TRIBUNAL, VISHAKHAPATNA M BEFORE S/SHRI D.MANMOHAN (VP) & J.SUDHAKAR REDDY (A M) M.A.NO.11/VIZ/2014 (ARISING OUT OF I.T.A. NOS.369 TO 374/VIZ/2014) ASSESSMENT YEARS: 2003-2004 TO 2008-09 ACIT, CENTRAL CIRCLE - 2, VISAKHAPATNAM VS. M/S. U.B. ELASTOMERS PVT LTD., D.NO.11-8-34, DASPALLA HILLS, VISAKHAPTANAM PAN/GIR NO. : AAACU 5141 R ( APPELLANT ) .. ( RESPONDENT ) APPELLANT BY : SMT. D K OMALI KRISHNA RESPONDENT BY : SHRI G.V.N. HARI DATE OF HEARING : 03/12/2014 DATE OF PRONOUNCEMENT : 03/12/2014 O R D E R PER J.SUDHAKAR REDDY, AM BY THIS MISCELLANEOUS PETITION, THE REVENUE SUBMITS THAT A MISTAKE APPARENT ON RECORD HAS CREPT INTO THE ORDER OF THE TRIBUNAL DATED 21.7 .2014 IN ITA NOS.369 TO 374/VIZ/2014, AS THE TRIBUNAL IN PARA 3 OF THE ORDER STATED THAT THE CIT (A) HAD ALLOWED 50% OF THE AGRICULTURAL INCOME. IN FACT THE LD CIT(A) HAD ESTIMATED THE AG RICULTURAL INCOME AT RS.1.5 LAKHS/-. 2. SINCE MISCELLANEOUS PETITION WAS FILED BY THE R EVENUE, THE CAUSE TITLE SHOULD INDICATE SO BUT IN THE MISCELLANEOUS PETITION, THE REVENUE WAS SHOWN AS RESPONDENT. 3. AFTER HEARING THE RIVAL SUBMISSIONS, WE ARE OF T HE CONSIDERED OPINION THAT THERE IS NO MERIT IN THE PETITION FILED BY THE REVENUE AS WE FI ND THAT, THE TRIBUNAL IN ITS FINDINGS FOLLOWING THE DECISION OF THE CO-ORDINATE BENCH IN AN IDENTIC AL ISSUE, DIRECTED THE AO TO DISALLOW 25% OUT OF AGRICULTURAL INCOME DECLARED BY THE ASSESSEE. TH E POINT RAISED IN THE APPLICATION VIRTUALLY SEEKS TO REVIEW THE ORDER OF THE TRIBUNAL, WHICH IS OUTSIDE THE PURVIEW OF PROVISIONS CONTAINED 2 M.A.NO.11/VIZ/2014 (ARISING OUT OF I.T.A. NOS.369 TO 374/VIZ/2014) ASSESSMENT YEARS: 2003-2004 TO 2008-09 IN SECTION 254(2) OF THE INCOME TAX ACT, 1961. IN T HE CIRCUMSTANCES, WE REJECT THE PRAYER OF THE DEPARTMENT. 4. IN THE RESULT, MISCELLANEOUS PETITION FILED BY T HE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 03/12/20 14 . SD/- SD/- (D.MANMOHAN ) (J.SUDHAKAR REDDY) VICE PRESIDENT ACCOUNTANT MEMBER VISHAKHAPATNAM DATED 03 / 12/2014 PARIDA , SR. PS COPY OF THE ORDER FORWARDED TO : 1. THE ASSESSEE M/S. U.B. ELASTOMERS PVT LTD., ., D.NO.11-8-34, DASPALLA HILLS, VISAKHAPTANAM 2. THE REVENUE: ACIT, CIRCLE - 2, VISAKHAPATNAM 3. THE CIT(A) - VISAKHAPATNAM 4. CIT , VISAKHAPATNAM 5. DR, ITAT, VISHAKHAPATNAM 6. GUARD FILE. BY ORDER SR.PS, ITAT, VISHAKHAPATNAM //TRUE COPY//