ICICI HOME FINANCE CO.LTD, V. CIT 10(1),

MA 168/MUM/2015

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4103 (ITAT-MUMBAI)
• Duration Of Justice: 6 month(s) 7 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 05-02-2016
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: I
• Assessment Year: 2007-2008
• Appeal Filed On: 28-07-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: BHARTI SINGH
• Assessee Lawyers: ARATI VASSADJI
• Keywords: Rectification of order
• Section: 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH I, MUMBAI BEFORE SHRI R.C.SHARMA, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER M.A. NO.168/MUM/2015 (ARISING OUT OF ITA NO.2012/MU M/2012) ASSESSMENT YEAR: 2007-08 ICICI HOME FINANCE COMPANY LTD. ICICI BANK TOWERS, BANDRA-KURLA COMPLEX, BANDRA (E), MUMBAI-400051. PAN: AAACI6285N VS. CIT- 10(1), 5 TH FLOOR, AAYAKAR BHAVAN, M.K.ROAD, MUMBAI-400020. (APPELLANT) (RESPONDENT) ASSESSEE BY : MS ARATI VASSADJI REVENUE BY : MS BHARTI SINGH (D R) DATE OF HEARING : 05.02.2016 DATE OF PRONOUNCEMENT : 05.02.2016 O R D E R PER PAWAN SINGH, JM: 1. THIS MISCELLANEOUS APPLICATION (MA) HAS BEEN FILED BY THE ASSESSEE FOR RECTIFICATION OF ORDER DATED 29.01.2005. 2. IN THE APPLICATION THE ASSESSEE PLEADED THAT IN THE ORDER OF TRIBUNAL, THE ORDER OF CIT(A) WAS UPHELD AND THE GROUNDS RELATING TO VERIFICATION OF ALLEGED PROVISION OF SUNDRY EXPENSES WAS RESTORED TO THE ASSESSING OFFICER (AO) WITH A DIRECTION TO CONSIDER THE ASSESSEES REPLY FILED IN RESPONSE TO THE SHOW CAUS E NOTICE ISSUED U/S. 263 OF THE ACT. THE LD. AR OF THE ASSESSEE WHILE MAKING SUBMISSION CONF INED HIS CONTENTION TO THE EXTENT THAT THE AUDITORS REPORT ALONG WITH THE CONFIRMATION OF PAYMENT WITH RESPECT TO DEBIT NOTE NO. DB/QT/07/03A DATED 15.12.2006 AND ASSESSEES LETTER DATED 20.09.2014 SUBMITTED TO CHIEF FINANCIAL OFFICER, ICICI HOME FINANCE COMPANY LTD., BKC BANDRA (E) MAY ALSO BE CONSIDERED IN THE ORDER FOR DIRECTION TO A.O. 3. LD. DR OF THE REVENUE FAIRLY CONCEDED AND SUBMITTED THAT AO WOULD CERTAINLY CONSIDER WHILE GIVING EFFECT TO THE DIRECTION IN ORDER DATED 29.01.2015. 2 MA NO. 134/M/2014 M/S GIZA MARKETING PVT. LTD. 4. IN VIEW OF THE CONTENTION MADE BY LD. AR OF THE ASS ESSEE WHICH WAS CONCEDED BY LD. DR FOR REVENUE, THE PRESENT M.A. IS ALLOWED ACCORDINGL Y TO THAT EXTENT ONLY AND THE AO IS DIRECTED TO CONSIDER THE AUDITORS REPORT ALONG WI TH THE CONFIRMATION OF PAYMENT WITH RESPECT TO DEBIT NOTE NO. DB/QT/07/03A DATED 15.12. 2006 AND ASSESSEES LETTER DATED 20.09.2014 SUBMITTED TO CHIEF FINANCIAL OFFICER, IC ICI HOME FINANCE COMPANY LTD., BKC BANDRA (E) AND PASS ORDER IN ACCORDANCE WITH LA W. 5. IN THE RESULT, M.A. FILED BY THE ASSESSEE IS ALLOWE D. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 5 TH FEBRUARY, 2016. SD/- SD/- ( R.C.SHARMA ) (PAWAN SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI; DATED 05/02/2016 S.K.PS / COPY OF THE ORDER FORWARDED TO : / BY ORDER, / (ASSTT.REGISTRAR) , / ITAT, MUMBAI 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A), MUMBAI. 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. !'# / GUARD FILE. $ //TRUE COPY/