ACIT, CHENNAI V. Megasoft Ltd., CHENNAI

MA 158/CHNY/2018

• Counselvise Citation: [2018] 122 COUNSELVISE.COM (IT) 4103 (ITAT-CHENNAI)
• Duration Of Justice: 3 month(s) 13 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 11-10-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2011-2012
• Appeal Filed On: 28-06-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R CLEMENT RAMESH KUMAR
• Assessee Lawyers: J D SRIKANTH VARMA
• Section: 115JB

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, CHENNAI ... , . !'# ! , $ !% BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER && / M.P. NO.414/CHNY/2017 & && / M.P. NOS.156, 157 & 158/CHNY/2018 (IN I.T.A. NOS.1250, 1251, 1252 & 1416/MDS/2015) ' (' / ASSESSMENT YEARS : 2006-07, 2008-09, 2010-11 & 20 11-12 THE DEPUTY COMMISSIONER OF INCOME TAX, THE ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 4(1), CHENNAI - 600 034. V. M/S MEGASOFT LIMITED, NO.85, KUTCHERY ROAD, MYLAPORE, CHENNAI - 600 004. PAN : AABCM 8933 A (*+' /PETITIONER) (*,+-/ RESPONDENT) *+' / 0 /PETITIONER BY: SHRI R. CLEMENT RAMESH KU MAR, ADDL.CIT *,+- / 0 / RESPONDENT BY : SHRI J.D. SRIKANTH VARMA, ADVOCATE 1 / 2$ / DATE OF HEARING : 05.10.2018 3'( / 2$ / DATE OF PRONOUNCEMENT : 11.10.2018 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: THE REVENUE HAS FILED THE PRESENT MISCELLANEOUS P ETITIONS ON THE GROUND THAT THERE IS AN ERROR IN THE ORDER O F THIS TRIBUNAL DATED 24.08.2016. 2 M.P. NO.414/CHNY/17 M.P. NOS.156 TO 158/CHNY/18 2. WE HEARD SHRI R. CLEMENT RAMESH KUMAR, THE LD. DEPARTMENTAL REPRESENTATIVE AND SHRI J.D. SRIKANTH VARMA, THE LD.COUNSEL FOR THE ASSESSEE. THE MISTAKE APPEARS T O BE THAT THE DISALLOWANCE OF PROVISION FOR BAD AND DOUBTFUL DEBT S, WHICH ARISES FOR CONSIDERATION, IS FOR ASSESSMENT YEAR 2008-09. HOWEVER, THIS TRIBUNAL REFERRED AS IF IT ARISES FOR CONSIDERATION FOR ASSESSMENT YEAR 2006-07 INSTEAD OF ASSESSMENT YEAR 2008-09. THIS T RIBUNAL FINDS THAT AT PAGE 12 PARA 13, THE ISSUE OF BAD DEBT WHIL E COMPUTING BOOK PROFIT UNDER SECTION 115JB OF THE INCOME-TAX ACT, 1 961 (IN SHORT 'THE ACT') WAS CONSIDERED. AT PARA 13, THIS TRIBUNAL RE FERRED AS IF THIS ISSUE ARISES FOR CONSIDERATION FOR ASSESSMENT YEAR 2006-07. IN FACT, THE ISSUE ARISES FOR CONSIDERATION FOR ASSESSMENT Y EAR 2008-09. THEREFORE, TO THAT EXTENT THERE IS A TYPOGRAPHICAL ERROR. ACCORDINGLY, THIS MISTAKE IS RECTIFIED AS FOLLOWS:- AT PAGE 12, PARA 13, ON THE SECOND LINE 2006-07 I S DELETED. INSTEAD, 2008-09 IS INSERTED. AFTER RECTIFICATION, PARA 13 OF THE ORDER OF THIS TRIBUNA L SHALL BE READ AS FOLLOWS: 13. THE REVENUE HAS RAISED ONE MORE GROUND FOR ASSESSMENT YEAR 2008-09 TOWARDS BAD DEBT. 3 M.P. NO.414/CHNY/17 M.P. NOS.156 TO 158/CHNY/18 3. IN RESPECT OF OTHER MISCELLANEOUS PETITIONS, THI S TRIBUNAL FINDS NO ERROR AS CLAIMED BY THE REVENUE IN THE MPS . THEREFORE, THIS TRIBUNAL DO NOT FIND ANY MERIT IN OTHER MISCEL LANEOUS PETITIONS FILED BY THE ASSESSEE. THE ORDER OF THIS TRIBUNAL DATED 24 TH AUGUST, 2016 IS RECTIFIED AS INDICATED ABOVE. HOWEVER, OTH ER PART OF THE ORDER SHALL REMAIN AS SUCH. 4. WITH THE ABOVE OBSERVATION, M.P. NO.414/CHNY/201 7 STANDS ALLOWED, HOWEVER, OTHER M.PS ARE DISMISSED. ORDER PRONOUNCED IN THE COURT ON 11 TH OCTOBER, 2018 AT CHENNAI. SD/- SD/- (. !'# ! ) ( ... ) (A. MOHAN ALANKAMONY) (N.R.S. GANESAN) $ / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 5 /DATED, THE 11 TH OCTOBER, 2018. KRI. / *26& 7&(2 /COPY TO: 1. *+' / PETITIONER 2. *,+- /RESPONDENT 3. 1 82 () /CIT(A) 4. 1 82 /CIT 5. &9 *2 /DR 6. ' : /GF.