Viramgam Mercantile Co.Op. Bank Ltd., Ahmedabad V. The ACIT, Circle-6, Ahmedabad

MA 164/AHD/2014

• Counselvise Citation: [2015] 124 COUNSELVISE.COM (IT) 2751 (ITAT-AHMEDABAD)
• Duration Of Justice: 5 month(s) 19 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 27-03-2015
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 16-01-2015
• Assessment Year: 2008-2009
• Appeal Filed On: 08-10-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: S N DIVETIA
• Keywords: Depreciation

Judgement Text

, , , , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, AHMEDABAD BEFORE SHRI G.C. GUPTA, VICE PRESIDENT AND SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER M.A. NO.164/AHD/2014 ARISING OUT OF ITA NO. 2900/AHD/2011 (ASSESSMENT YEAR : 2008-09) VIRAMGAM MERCANTILE CO-OP. BANK LTD., MOHANBHAI PATEL MARKET, VIRAMGAM, DIST: AHMEDABAD PAN : AABAT 4076 B VS THE ACIT, CIRCLE-6, AHMEDABAD (APPELLANT) (RESPONDENT) ASSESSEE(S) BY : SHRI S.N. DIVETIA, AR REVENUE BY : SHRI NIMESH YADAV, SR. DR / DATE OF HEARING : 16/01/2015 !' /DATE OF PRONOUNCEMENT: 27/03/2015 #$ #$ #$ #$ / O R D E R PER SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER THIS MISCELLANEOUS APPLICATION HAS BEEN FILED BY TH E ASSESSEE ON 16.01.2015 ARISING OUT OF THE ORDER OF THE TRIBUNAL DATED 12.09.2014 IN ITA NO.2900/AHD/2011 FOR ASSESSMENT YEAR 2008-09. 2. THROUGH THE MISCELLANEOUS APPLICATION, IT WAS INTER ALIA SUBMITTED BY THE ASSESSEE THAT WHILE DECIDING GROUN D NO.3 WITH RESPECT TO DISALLOWANCE ON DEPRECIATION ON INVESTMENTS, AT THE TIME OF HEARING, LD. AUTHORIZED REPRESENTATIVE HAD SUBMITTED THAT DI MINUTION IN THE VALUE OF INVESTMENT WAS RIGHTLY CLAIMED BY THE ASSE SSEE IN VIEW OF THE FACT THAT ASSESSEE HAD MADE THE PROVISION AS PER RE SERVE BANK OF INDIA GUIDELINES AND, THEREFORE, IT WAS ALLOWABLE AND FOR WHICH RELIANCE WAS ALSO PLACED ON VARIOUS JUDICIAL PRONOUNCEMENTS. IN THE APPLICATION IT MA NO.164/AHD/2014 IN ITA NO2900/AHD/2011 VIRAMGAM MERCANTILE CO-OP BANK LTD - 2 - WAS FURTHER SUBMITTED THAT THE ISSUE WAS REMITTED T O THE FILE OF CIT(A) TO DECIDE THE ISSUE IN ACCORDANCE WITH LAW EVEN THO UGH IT COULD HAVE BEEN DECIDED BY THE HONBLE ITAT. IT WAS, THEREFOR E, CONTENDED THAT THE AFORESAID CONSTITUTED MISTAKE APPARENT FROM REC ORD AND, THEREFORE, THE ORDER BE MODIFIED. 3. BEFORE US, THE LD. AUTHORIZED REPRESENTATIVE REI TERATED THE SUBMISSIONS MADE IN THE MISCELLANEOUS APPLICATION A ND ON THE OTHER HAND, LD. DEPARTMENTAL REPRESENTATIVE SUBMITTED THA T THERE WAS NO ERROR IN THE ORDER OF THE TRIBUNAL WARRANTING ANY R ECTIFICATION. 4. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. WHILE DECIDING THE ISSUE, IT WAS NOTED BY T HE CO-ORDINATE BENCH OF THE TRIBUNAL THAT THE DECISION RELIED BY THE ASS ESSEE WAS NOT BEFORE CIT(A) WHEN THE ASSESSEE WAS DECIDED BY HIM. IN SUC H CIRCUMSTANCES, THE MATTER WAS REMITTED TO CIT(A) FOR DECIDING THE ISSUE IN ACCORDANCE WITH LAW. BEFORE US, THE LD. AUTHORIZED REPRESENTAT IVE COULD NOT POINT OUT ANY SPECIFIC MISTAKE, WHICH WAS APPARENT FROM T HE RECORD AND CREPT UP IN THE ORDER OF THE TRIBUNAL. IT IS ALSO A SETT LED LAW THAT U/S 254(2) OF THE ACT, THE TRIBUNAL CANNOT REVIEW ITS OWN ORDER I N THE GUISE OF RECTIFICATION OF AN APPARENT ERROR. THEREFORE, WE DO NOT FIND ANY MERIT IN THIS MISCELLANEOUS APPLICATION OF THE ASSESSEE A ND ACCORDINGLY, THE SAME IS DISMISSED. 5. IN THE RESULT, THE MISCELLANEOUS APPLICATION IS DISMISSED. ORDER PRONOUNCED IN THE COURT ON 27/03/2015. SD/- SD/- (G.C. GUPTA) (ANIL CHATURVEDI) VICE PRESIDENT ACCOUNTANT MEMBER DATED /03/2015 *BIJU T MA NO.164/AHD/2014 IN ITA NO2900/AHD/2011 VIRAMGAM MERCANTILE CO-OP BANK LTD - 3 - PRONOUNCEMENT OF ORDER UNDER RULE, 34(4) OF ITAT RULES, 1963 M.A. NO.164/AHD/2014 - ASSESSEE VIRAMGAM MER CANTILE CO-OP. BANK LTD., RESULT - DISMISSED SD/- SD/- (SHAILENDRA YADAV) JUDICIAL MEMBER (ANIL CHATURVEDI) ACCOUNTANT MEMBER DATE : 27/03/2015 #$ #$ #$ #$ %& %& %& %& '#&' '#&' '#&' '#&' / COPY OF THE ORDER FORWARDED TO : 1. () / THE APPELLANT 2. %*() / THE RESPONDENT. 3. ++ , / CONCERNED CIT 4. , ( ) / THE CIT(A), AHMEDABAD 5. &-. % , , / DR, ITAT, AHMEDABAD 6. ./0 1 / GUARD FILE. #$ #$ #$ #$ / BY ORDER, TRUE COPY 2 22 2 / +3 +3 +3 +3 (DY./ASSTT.REGISTRAR) , / ITAT, AHMEDABAD