Shri Budhe Maruti Dnyanu, Karad V. ITO Wd. 3, Satara

MA 164/PUN/2010

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 7302 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 27 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 22-11-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 18-11-2011
• Assessment Year: 2001-2002
• Appeal Filed On: 25-10-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S K SINGH

Judgement Text

MA NO.164/PN/2010 BUDHE MARUTI DNYANU, KARAD, SATAR A IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH B, PUNE BEFORE SHRI I.C. SUDHIR, JUDICIAL MEMBER AND SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER MA NO. 164 / PN / 20 10 (ARISING OUT OF ITA NO.1301/PN/2004) ASSESSMENT YEAR : 2001 - 02 BUDHE MARUT I DNYANU, KARAD DIST. SATARA VS. ITO WARD - 3 SATARA (APPELLANT) (RESPONDENT) PAN NO. ABPPB 3778A APPELLANT BY: SHRI M.K. KULKARNI , ADVOCATE RESPONDENT BY: SHRI S.K. SINGH, DR DATE OF HEARING: 18.11.2011 DATE OF PRONOUNCEMENT: 22.11.2011 ORDER PER SHRI D. KARUNAKARA RAO, ACCOUNTANT MEMBER:- BY THIS PETITION THE ASSESSEE SEEKS RECALL OF ORDE R DATED 20.4.2005 PASSED BY THIS BENCH. 2. THE SUBJECT MATTER IN THIS MISCELLANEOUS APPLICA TION IS THE ORDER OF ITAT, WHEREIN THE ISSUE OF EXEMPTION UNDER CLAUSE (10C) O F SECTION 10 I.E. TAXABILITY BENEFIT RECEIPT UNDER VRS WAS TO BE INCLUDED IN TOT AL INCOME OR NOT HAS BEEN RAISED. THIS ISSUE HAS BEEN DECIDED BY HONBLE JUR ISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. KOODATHIL KALLYATAN AMBUJAKSHA (2008 ) 219 CTR (BOM) 80 IN FAVOUR OF THE ASSESSEE. SO, ON THE BASIS OF DECISI ON OF HONBLE JURISDICTIONAL HIGH COURT ON THIS ISSUE, APPLICANT SEEKS RECTIFICATION IN THE ORDER OF THE TRIBUNAL. 3. IN THIS BACKGROUND, IT WAS SUBMITTED THAT AT THE STRENGTH OF DECISION OF HIGH COURT, ORDER OF ITAT MAY BE MODIFIED, RECTIFIE D OR RECALLED. THE GRIEVANCE OF THE APPLICANT HAS BEEN HEARD AND IS BEING DISPOS ED OFF BY THIS ORDER. 4. THE HONBLE BOMBAY HIGH COURT IN THE CASE OF CIT VS. KOODATHIL KALLYATAN AMBUJAKSHA (SUPRA) HAS DECIDED THE ISSUE (WITH REGA RDS TO THE TAXABILITY OF BENEFITS RECEIVED UNDER VRS SCHEME) IN FAVOUR OF TH E ASSESSEE. AS PER JUDGEMENT OF HONBLE SUPREME COURT IN THE CASE OF A SST. CIT VS. SAURASHTRA KUTCH STOCK EXCHANGE LTD. (2008) 219 CTR (SC) 90 TH E ORDER OF THE TRIBUNAL CAN BE RECTIFIED BY SUBSEQUENT DECISION OF HONBLE JURI SDICTIONAL HIGH COURT. ON THIS ISSUE NOTHING CONTRARY HAS BEEN BROUGHT TO OUR NOTI CE ON BEHALF OF THE REVENUE. MA NO.164/PN/2010 BUDHE MARUTI DNYANU, KARAD, SATAR A 2 IN VIEW OF THIS, WE RECALL OUR ORDER IN ITA NO.1301 /PN/2004 ETC. DATED 20.4.2005 AND DIRECT THE REGISTRY TO FIX THIS MATTER IN REGUL AR COURSE AND INFORM THE CONCERNED PARTIES. THE REGISTRY IS DIRECTED ACCORD INGLY. 5. IN THE RESULT, MISCELLANEOUS APPLICATION OF THE ASSESSEE IS ALLOWED . PRONOUNCED ACCORDINGLY ON 22.11.2011 SD/- SD/- ( I.C. SUDHIR ) JUDICIAL MEMBER (D. K ARUNAKARA RAO ) ACCOUNTANT MEMBER PUNE, DATED THE 22 ND NOVEMBER, 2011 COPY OF THE ORDER IS FORWARDED TO : 1. SRI BUDHE MARUTI DNYANU, KARAD, DIST. SATARA 2. ITO WARD-3, PUNE 3. THE CIT(A), PUNE 4. THE CIT CONCERNED 5. D.R. B BENCH, PUNE 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL PUNE