TVS INFRASTRUCTURE PRIVATE LIMITED, Mumbai V. ACIT-2(3)(1), Mumbai

MA 167/MUM/2022

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 2788 (ITAT-MUMBAI)
• Duration Of Justice: 2 month(s) 27 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 15-09-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Next Hearing Date: 15-09-2022
• Assessment Year: 2014-2015
• Appeal Filed On: 19-06-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Capital Gains

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL “E” Bench, Mumbai Shri B.R. Baskaran (AM) & Shri Pavan Kumar Gadale (JM) M.A.No. 167/Mum/2022 in I.T.A. No. 2614/Mum/2018 (A.Y. 2014-15) M/s. TVS Industrial & Logistics Parks Pvt.Ltd. (Formerly known as TVS Infrastructure Pvt. Ltd.) B-106, 10 th Floor, B Wing Mittal Tower, Nariman Point, Mumbai-400 021. PAN : AACCG4215C Vs. ACIT-2(3)(1) Aayakar Bhavan M.K. Road Mumbai-400 020. (Appellant) (Respondent) Assessee by Shri Sankalp Sharma & Shri Ujjval Gangwal Department by Shri Soumendu Kumar Dash Date of Hearing 16.09.2022 Date of Pronouncement 16.09.2022 O R D E R Per B.R.Baskaran (AM) :- This miscellaneous application has been filed by the assessee submitting that there is a mistake apparent from record in the order dated 01-02-2022 passed by the Tribunal in ITA No. 2614/Mum/2018. 2. The Ld A.R submitted that the Ground no.2 urged by the assessee in its appeal filed before the Tribunal has not been disposed of by the Tribunal and hence the order so passed by the Tribunal needs to be recalled for the limited purpose of adjudicating ground no.2. 3. The Ld D.R also agreed that the ground no.2 urged by the assessee has not been disposed of. M / s . TV S In d us tr i a l & L og is ti c s P a r k s P v t. L td . 2 4. We heard the parties and perused the record. The ground no.2 urged by the assessee it the appeal filed before the Tribunal reads as under:- “2) On the facts and circumstances of the case and in law the CIT(A) erred in holding the profits from sale of land situated in Thirssur as business income and not long/short term capital gains.” On a perusal of the impugned order passed by the Tribunal, we notice that the above said ground no.2 has not been adjudicated. Accordingly, there is merit in the miscellaneous application filed by the assessee. 5. Accordingly, we recall the order dated 01-02-2022 passed by the Tribunal in ITA No.2614/Mum/2018 for the limited purpose of adjudicating Ground no.2, referred above. 6. The registry is directed to post the appeal for hearing in the regular course under due intimation to parties. 7. In the result, the miscellaneous application filed by the assessee is allowed. Order pronounced in the open court on 16.09.2022. Sd/- Sd/- (PAVAN KUMAR GADALE) (B.R. BASKARAN) JUDICIAL MEMBER ACCOUNTANT MEMBER Mumbai; Dated : 16/09/2022 Copy of the Order forwarded to : 1. The Appellant 2. The Respondent 3. The CIT(A) 4. CIT 5. DR, ITAT, Mumbai 6. Guard File. BY ORDER, //True Copy// (Assistant Registrar) PS ITAT, Mumbai