Competent Holdings Pvt. Ltd., New Delhi V. ACIT, Circle-6(1), New Delhi

MA 113/DEL/2022

AI Insights

The case involves Competent Holdings Pvt. Ltd., the appellant, who filed a miscellaneous application concerning a typographical error in a previous tribunal order related to the assessment year 2014-15. The error pertained to the disallowance amount stated in the tribunal's order, which was incorrectly mentioned as Rs. 997226 instead of the correct amount of Rs. 9972. The application was directed towards rectifying this mistake to ensure the correct application of the law regarding the disallowance of expenses related to exempt income.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 121564 (ITAT-DELHI)
• Duration Of Justice: 9 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-03-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2014-2015
• Appeal Filed On: 01-06-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Earning of tax free income

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “B” NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI YOGESH KUMAR US, JUDICIAL MEMBER MA No.113/Del/2022 (In ITA No.647/Del/19) Assessment Year : 2014-15 Competent Holdings Pvt. Ltd. A-44, Kailash Colony, New Delhi Vs. ACIT Circle – 6 (1) New Delhi (Appellant) (Respondent) Assessee by : Sh. K. Sampath, Advocate Sh. V. Rajakumar, Advocate Department by : Sh. Om Prakash, Sr. DR Date of hearing : 24-03-2023 Date of pronouncement : 24-03-2023 O R D E R PER N.K BILLAIYA, AM : This Miscellaneous Application by the assessee is directed towards the order of the Tribunal in ITA No.647/Del/2019 dated 15.02.2022. 2. In its miscellaneous application the assessee drew our attention to the following typographical error. “10. Respectfully, following the findings of the coordinate Bench we direct the AO to restrict the disallowance to Rs.9,97,226/- being 10% of the exempt income.” 3. We have carefully considered the contents of the miscellaneous application viz-a-viz the findings of this Tribunal at para-10 of its order. 2 3. We find force in the contention of the Counsel. This Tribunal has restricted the disallowance to 10% of the exempt income of Rs.997226/- but inadvertently instead of Rs.9972/- the disallowance has been mentioned as Rs.997226/-. 4. We accordingly rectify the typographical error and direct the AO to restrict the disallowance to Rs.9972/-. 5. In the result, the miscellaneous application is allowed. 6. Decision announced in the open court in the presence of both the parties on 24.03.2023. Sd/- Sd/- (YOGESH KUMAR US) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated:24-03-2023 *Neha* Copy of order to: - 1) Th e A p pe l la n t 2) Th e Re sp on de n t 3) Th e C IT 4) Th e C IT (A ) 5) Th e DR , I . T. A . T. , Ne w De l h i//True Copy// A ss i sta n t Re gi st r ar I TA T, N e w De l h i