ACIT, CHENNAI V. M/s. TTK Healthcare Limited, CHENNAI

MA 136/CHNY/2011

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 6876 (ITAT-CHENNAI)
• Duration Of Justice: 28 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 19-08-2011
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2002-2003
• Appeal Filed On: 22-07-2011
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: T N BETGIRI
• Keywords: Depreciation; Unabsorbed depreciation

Judgement Text

IN THE INCOME-TAX APPELLATE TRIBUNAL CHENNAI C BENCH, CHENNAI. BEFORE DR. O.K. NARAYANAN, VICE PRESIDENT AND SHRI HARI OM MARATHA, JUDICIAL MEMBER M.P. NO. 136/MDS/2011 [IN I.T.A. NO. 1389/MDS/2009] ASSESSMENT YEAR: 2002-03 THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE III(2), CHENNAI. VS. M/S. TTK HEALTHCARE LIMITED, 6, CATHEDRAL ROAD, CHENNAI 600 086. [AABCT3312J] (APPELLANT) (RESPONDENT) REVENUE BY : SHRI T.N. BETGIRI, JCIT ASSESSEE BY : SHRI SAROJ KUMAR PARIDA, ADVOCATE DATE OF HEARING : 19.08.2011 DATE OF PRONOUNCEMENT 19.08.2011 ORDER PER HARI OM MARATHA, J.M. THIS MISCELLANEOUS PETITION HAS BEEN FILED BY THE REVENUE STATING THAT IN THE ORDER DATED 05.05.2011FOR THE ASSESSMENT YEAR 2002- 03 PASSED IN THE ABOVE CAPTIONED CASE THAT IN THE DECISION IN ITA NO. 1389 /MDS/2009, WHILE DECIDING THE ISSUE RELATING TO CARRY FORWARD OF BUSINESS LOSS IN UNABSORBED DEPRECIATION IN RESPECT OF TTK MEDICAL DEVICES LIMITED, EVEN AFTER FOLLOWING THE DECISION OF THIS BENCH RENDERED FOR THE ASSESSMENT YEAR 2001-02, ADV ERTENTLY IN PARA NO.13 AT PAGE NO.13, IT HAS BEEN MENTIONED THAT BY RESPECTF ULLY FOLLOWING THE ABOVE ORDER OF THE TRIBUNAL, WE CANNOT ALLOW THIS GROUND OF THE REVENUE AS AGAINST WHICH IN ASSESSMENT YEAR 2001-02, THE TRIBUNAL HAS ALLOWED T HIS ISSUE IN FAVOUR OF THE REVENUE. M.P M.P M.P M.P. NO. . NO. . NO. . NO.136 136136 136/MDS/ /MDS/ /MDS/ /MDS/11 1111 11 2 2. WE HAVE GONE THROUGH THE TRIBUNALS ORDER IN QU ESTION AND HAVE ALSO CONSIDERED THE RIVAL STAND AND SUBMISSIONS OF THE P ARTIES. WE HAVE ALSO FOUND THAT TYPOGRAPHICAL MISTAKE HAS OCCURRED WHILE DRAFTING T HE ORDER AT PARA NO. 13 OF THIS ORDER. INSTEAD OF NOT ALLOWING THIS GROUND OF APPEA L OF THE REVENUE, WE SHOULD HAVE WRITTEN THIS GROUND OF REVENUE IS ALLOWED. C ONSEQUENTLY, THIS IS A MISTAKE APPARENT FROM RECORD, WHICH IS RECTIFIABLE UNDER SE CTION 254(2) OF THE ACT. WE ORDER THAT PARA NO. 13 OF THE ORDER DATED 05.05.2011 IN I TA NO. 1389/MDS/2009 FOR THE ASSESSMENT YEAR 2002-03 SHALL BE READ AS UNDER: 13. BY RESPECTFULLY FOLLOWING THE ABOVE ORDER OF THE TRIBUNAL, WE ALLOW THIS GROUND OF REVENUE. ACCORDINGLY, WE ALLOW THIS PETITION OF THE REVENUE . 3. IN THE RESULT, THE MISCELLANEOUS PETITION OF TH E REVENUE STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 19.08.2011. SD/- SD/- (O.K. NARAYANAN) VICE PRESIDENT (HARI OM MARATHA) JUDICIAL MEMBER CHENNAI, DATED, THE 19.08.2011 VM/- TO: THE ASSESSEE//A.O./CIT(A)/CIT/D.R.