Sri Venkateswara Developers, Bangalore V. Assistant Commissioner Of Income Tax, Circle- 7(2)(1), Bangalore

MA 114/BANG/2022

AI Insights

The case involves a miscellaneous petition by Sri Venkateswara Developers seeking correction in a previous Tribunal order where an incorrect section of the Income-tax Act was cited. The Tribunal had initially referenced section 36(1)(iii) instead of the correct section 24(b) in their order concerning the assessment year 2014-15. The mistake was acknowledged during the proceedings, and the Tribunal ordered the correction to ensure the legal reference aligns with the intended statutory provision.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 129970 (ITAT-BANGALORE)
• Duration Of Justice: 2 month(s) 10 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 05-01-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 05-01-2023
• Assessment Year: 2014-2015
• Appeal Filed On: 26-10-2022
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

MP No.114/Bang/2022 Sri Venkateswara Developers, Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH: BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI GEORGE GEORGE K., JUDICIAL MEMBER MP No.114/Bang/2022 ITA No.1910/Bang/2019 Assessment Year: 2014-15 Sri Venkateswara Developers No.51, Le Parc Richmonde Richmond Road Bangalore 560 025 PAN NO : AAFFS1671N Vs. ACIT Circle-7(2)(1) Bangalore APPELLANT RESPONDENT Appellant by : Shri S.V. Ravishankar, A.R. Respondent by : Shri Gudimella V.P. Pavan Kumar, D.R. Date of Hearing : 06.01.2023 Date of Pronouncement : 06.01.2023 O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: This miscellaneous petition filed by the assessee seeking correction of the order in para 5 page 9 of the Tribunal’s order in ITA No.1910/Bang/2019 dated 6.6.2022, wherein Tribunal wrongly mentioned the section 36(1)(iii) of the Income-tax Act,1961 ['the Act' for short] instead of 24(b) of the Act. 2. We have heard the rival submissions and perused the materials available on record. We find that the argument of the ld. A.R. is correct and there was a mistake crept in the order of MP No.114/Bang/2022 Sri Venkateswara Developers, Bangalore Page 2 of 2 the Tribunal in para 5 line Nos.6 & 7 and same required to be corrected. Accordingly, we direct the A.O. to read the line Nos.6 & 7 in para 5, page 9 of that order as section 24(b) instead of section 36(1)(iii) of the Act mentioned therein. Ordered accordingly. 3. This miscellaneous petition filed by the assessee is allowed. Order pronounced in the open court on 6 th Jan, 2023 Sd/- (George George K. ) Judicial Member Sd/- (Chandra Poojari) Accountant Member Bangalore, Dated 6 th Jan, 2023. VG/SPS Copy to: 1. The Applicant 2. The Respondent 3. The CIT 4. The CIT(A) 5. The DR, ITAT, Bangalore. 6. Guard file By order Asst. Registrar, ITAT, Bangalore