Religare Securities Ltd., New Delhi V. DCIT, Circle- 21(1), New Delhi

MA 159/DEL/2021

• Counselvise Citation: [NaN] 107 COUNSELVISE.COM (IT) 2273 (ITAT-DELHI)
• Duration Of Justice: 6 month(s) 23 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 01-04-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: F
• Assessment Year: 2013-2014
• Appeal Filed On: 09-09-2021
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: ROHIT JAIN
• Section: 32; 147; 131; 68; 246; 69; 145; 27; 148; 54; 37; 6; 56; 263; 63; 132; 12; 28; 144; 10; 90; 154; 2; 11; 15; 271(1)(b); 139; 92

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “Friday” NEW DELHI BEFORE SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER MA No.159/Del/2021 (In ITA No.6330/Del/2017) Assessment Year : 2013-14 Religare Securities Ltd. 2 nd Floor, Tower-A, Prius Global, Plot Nol.11, A- 3,4,5, Sector -125, Noida, U.P. 201301 Vs. DCIT Circle – 21 (1) New Delhi (Appellant) (Respondent) Assessee by : Shri Rohit Jain, Advocate Ms. Soumay Jain, CA Department by : Shri Sanjay Kumar, Sr. DR. Date of hearing : 01-04-2022 Date of pronouncement : 01-04-2022 O R D E R PER N.K BILLAIYA, AM : This Miscellaneous Application by the assessee is directed towards the order of this Tribunal in ITA No.6330/Del/2017 for A.Y.2013-14. 2. The Counsel pointed out that at para 8.0 of the order the Tribunal has accepted that findings given by this Tribunal in assessee’s own case for A.Y.2008-09 and 2011-12 is to be followed. 3. It is the say of the Counsel that in A.Y.2008-09 in ITA No.2282/Del/2013 the Tribunal has directed the AO to re-compute the disallowance u/s.14A and restrict the same to the extent of 2 dividend income. The Counsel pointed out that while following the order of the Tribunal for A.Y 2008-09 the Tribunal at para -11.1 of its order has not mentioned this specific direction which has resulted into a rectifiable mistake apparent from record. 4. We have carefully perused the order of the Tribunal in ITA No.6330/Del/2017 in the impugned assessment year viz-a-viz in ITA No.2282/Del/2013 for A.Y.2008-09. We find force in the contention of the Counsel, rectifiable mistake has crept in not giving specific finding following A.Y.2008-09 to restrict the disallowance to the extent of exempt income. 5. Modifying the finding given at para 11.1 of the order we direct the AO to restrict the disallowance to the extent of the exempt income. 6. In the result, the miscellaneous application filed by the assessee is allowed. 7. Decision announced in the open court in the presence of both the parties on 01.04.2022. Sd/- Sd/- (NARENDER CHOUDHRY) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER Dated: 01.04.2022 *Neha* Copy of order to: - 1) The Appellant 2) The Respondent 3) The CIT 4) The CIT(A) 5) The DR, I.T.A.T., New Delhi//True Copy// Assistant Registrar ITAT, New Delhi 3 Date of dictation 01.04.2022 Date on which the typed draft is placed before the dictating Member 01.04.2022 Date on which the typed draft is placed before the Other member 01.04.2022 Date on which the approved draft comes to the Sr.PS/PS 01.04.2022 Date on which the fair order is placed before the Dictating Member for Pronouncement 01.04.2022 Date on which the fair order comes back to the Sr. PS/ PS 01.04.2022 Date on which the final order is uploaded on the website of ITAT 01.04.2022 Date on which the file goes to the Bench Clerk Date on which file goes to the Head Clerk. The date on which file goes to the Assistant Registrar for signature on the order Date of dispatch of the Order