M/S LI TRADING PRIVATE LIMITED , MUMBAI V. NFAC , DELHI

MA 162/MUM/2022

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 3661 (ITAT-MUMBAI)
• Duration Of Justice: 19 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-07-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: K
• Assessment Year: 2017-2018
• Appeal Filed On: 15-06-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Application of stay
• Section: 143(3); 144C; 254(2)

Judgement Text

म ु ंबई ठ “ े ” म ु म , एवं व ! व"# , $ % ! " े !म IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “K”, MUMBAI BEFORE SHRI PRAMOD KUMAR, VICE-PRESIDENT & SHRI VIKAS AWASTHY, JUDICIAL MEMBER MA NO.162/MUM/2022 IN S.A.NO.47/MUM/2022 [Arising out of ITA NO.521/MUM/2022, A.Y.202017-18) ] M/s. LI Trading Private Limited, Village Kalamgaon, Mumbai Nasik Highway, Taluka Shapur, Thane – 421 601. PAN: AABCL-4860-B ..... #& /Applicant बन म Vs. Asstt.Commissioner of Income Tax 3(1)(1), (NFAC), Mumbai. ..... %)व /Respondent #& *व / Applicant by : Shri Rohit Jethani %)व *व /Respondent by : Shri B.K.Bagchi ! ु नव ई + %) #/ Date of hearing : 17/06/2022 , - + %) #/ Date of pronouncement : 05/07/2022 ेश/ ORDER PER VIKAS AWASTHY, JM: This Miscellaneous Application under section 254(2) of the Income Tax Act, 1961 [in short ‘the Act’] has been filed by the assessee seeking rectification in the order of Tribunal dated 20/05/2022 vide which aforesaid Stay Application of assessee was allowed. 2. Shri Rohit Jethani appearing on behalf of the assessee submitted that while deciding stay application, the Tribunal in para 4(i) of the order has 2 MA NO.162/MUM/2022 mentioned the total outstanding demand as Rs.5,03,39,980/-, whereas the correct outstanding demand is Rs.1,96,70,156/- (inclusive of interest). The ld. Authorized Representative of the assessee pointed that in the Computation Sheet the total income was erroneously determined at Rs.9,99,86,629/- as against Rs.4,02,06,690/- determined by the Assessing Officer while passing assessment order dated 03/02/2022 passed under section 143(3) r.w.s. 144C of the Act. Because of the said error demand of Rs.5,03,39,980/- was raised by National Faceless Assessment Centre, Delhi as against Rs.1,89,13,611/-. The assessee has filed rectification petition on 21/04/2022 which is still pending for final disposal. On maintainability of rectification petition in Station Application the ld. Authorized Representative of the assessee placed reliance on the decision rendered in the case of CIT vs. ITAT, 40 Taxman 59 (M.P). 3. Shri B.K. Bagchi representing the Department raised no serious objection on the miscellaneous application filed by the assessee seeking rectification in the order dated 20/05/2022. 4. Both sides heard. From perusal of the assessment order dated 03/02/2022 (supra) it is evident that the total taxable income determined by the Assessing Officer is Rs.4,02,06,690/-. It is only in Computation Sheet the Gross Total Income has been mentioned as Rs.9,99,86,629/- resultantly, demand has be computed as Rs.5,03,39,980/-. The assessee while filing Stay Application has mentioned total outstanding demand as per the amount mentioned in Computation Sheet. In the order the quantum of outstanding demand has been mentioned as per the amount mentioned in Schedule drawn Stay Application. The mistake has crept in para 4(i) of the Tribunal order 3 MA NO.162/MUM/2022 consequent to mistake in Stay Application in mentioning the amount of outstanding demand. The mistake apparent from record is rectified, the outstanding demand as mentioned in para 4(i) be read as Rs.1,96,70,156/-. 5. In the result, the Miscellaneous Application is allowed. Order pronounced in the open court on Tuesday the 05 th day of July, 2022. Sd/- Sd/- (PRAMOD KUMAR) (VIKAS AWASTHY) /VICE PRESIDENT $ % ! " /JUDICIAL MEMBER म ु ंबई/ Mumbai, / न ं /Dated 05/07/2022 Vm, Sr. PS(O/S) त ल प अ े षतCopy of the Order forwarded to : 1. #&/The Appellant , 2. %)व / The Respondent. 3. ु 0)( )/ The CIT(A)- 4. ु 0) CIT 5. व3 4 %)%न , . . ., म ु बंई/DR, ITAT, Mumbai 6. 4 67 8 9 /Guard file. BY ORDER, //True Copy// (Dy./Asstt. Registrar) ITAT, Mumbai