M/s Hero Investment Pvt. Ltd. (Now merged into M/s Hero MotoCorp Ltd.), Ludhiana V. ACIT, C-5, Ludhiana

MA 17/CHANDI/2021

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 3181 (ITAT-CHANDIGARH)
• Duration Of Justice: 6 month(s) 8 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 15-06-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2009-2010
• Appeal Filed On: 07-12-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MEENAKSHI VOHRA CIT
• Assessee Lawyers: SUBHASH AGGARWAL
• Keywords: Set aside
• Section: 13

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BE NCH A, CHANDIGARH .., !' .. , # $% BEFORE: SHRI. N.K.SAINI, VP & SHRI , R.L. NEGI, JM MISCELLANEOUS APPLICATION NO. 17/CHD/2021 ( ITA NO. 1450/CHD/2021) ASSESSMENT YEAR : 2009-10 M/S HERO INVESTMENT PVT. LTD. (NOW MERGED INTO M/S HERO MOTO CORP LTD.) HERO NAGAR, G.T. ROAD, LUDHIANA THE ASSTT. CIT CIRCLE-V, LUDHIANA PAN NO: AAACH4072N APPELLANT RESPONDENT !' ASSESSEE BY : SHRI SUBHASH AGGARWAL, ADVOCATE #!' REVENUE BY : SMT. MEENAKSHI VOHRA, ADDL. CIT $ %! & DATE OF HEARING : 15/06/2021 '()*! & DATE OF PRONOUNCEMENT : 15/06/2021 $&/ ORDER PER N.K. SAINI, VICE PRESIDENT THIS MISCELLANEOUS APPLICATION DT. 24/09/2020 HAS B EEN FILED BY THE ASSESSEE AGAINST THE ORDER DT. 27/07/2020 IN ITA NO . 1450/CHD/2017 FOR THE A.Y. 2009-10 BY STATING THEREIN AS UNDER: APPLICATION U/S 254 OF THE INCOME TAX ACT, 1961. DEAR SIR, THE ABOVE APPEAL WAS DECIDED BY YOUR HONOUR VIDE OR DER DATED 27.07.2020. THE FOLLOWING MISTAKE HAS OCCURRED IN DIE ORDER WHICH N EEDS RECTIFICATION. IN PARA 7 OF THE ORDER YOUR HONOUR HAVE OBSERVED AS UNDER- 'LD. COUNSEL FOR THE ASSESSEE AT THE VERY OUTSET ST ATED THAT THE DECISION RELATING TO THE NATURE OF LOSS WAS TO BE TAKEN BY CONSIDERING C IRCULAR NO. 4/2007 DT. 15/06/2007 AND THE CIRCULAR NO. 6/2016 DT 29/02/201 6 ISSUED BY CBDT. IT WAS FURTHER SUBMITTED THAT THE LD. CIT(A) WAS WRONG IN NOT FOLLOWING THE CIRCULARS 2 WHICH WERE BINDING ON THE REVENUE. RELIANCE WAS PLA CED ON THE JUDGMENT OF THE HON'BLE SUPREME COURT IN THE CASE OF UCO BANK V S. C1T REPORTED AT 237 ITR 889. IF WAS ALSO SUBMITTED THAT FOR THE A.Y. 2008-0 9 THE LD. CIT(A) HAS CONSIDERED THE AFORESAID CIRCULAR AND ALLOWED THE RELIEF TO TH E ASSESSEE. HE REQUESTED THAT THE MATTER MAY BE RESTORED BACK TO THE FILE OF DIE LD. CIT(A) TO BE DECIDED AFTER CONSIDERING THE AFORESAID REFERRED TO CIRCULARS ISS UED BY THE CBDT.' THE REFERENCE TO ASSESSMENT YEAR 2008-09 IS NOT COR RECT. IN FACT IN MY WRITTEN SUBMISSIONS DATED 24.07.2020 IN THE LAST PARAGRAPH I HAD SUBMITTED AS UNDER:- 'LATELY AFTER THE DECISION OF THE HON'BLE HIGH COUR T SIMILAR ISSUE CAME UP FOR HEARING BEFORE THE CIT(A) AND THE CIT(A) FOR THE AS SESSMENT YEAR 2011-12 & 2012- 13 HAS DECIDED THE ISSUE IN FAVOUR OF THE APPELLANT ON 30.10.2018 THE BASIS OF BOARD CIRCULAR NO. 6/2016 DATED 29.02.2016. THE COP IES OF CIT(A)'S ORDER FOR BOTH THE YEARS HAVE ALREADY BEEN FILED BEFORE YOUR HONOU R ON 01.06.2016 AT PB 20-30. IN VIEW OF THE ABOVE THE APPELLANT HUMBLY SUBMITS T HAT IN THE INTEREST OF JUSTICE THE ISSUE DESERVES TO BE SET ASIDE TO THE FILE OF C FT(A) TO DECIDE THE SAME IN VIEW OF BOARD CIRCULAR NO. 6/2016 WHICH IS PARTICULARLY ISSUED TO AVOID LITIGATION' IN FACT THE REFERENCE WAS MADE TO CIT(A)'S ORDERS F OR THE ASSESSMENT YEAR 2011-12 & 2012-13 THE COPIES OF WHICH WERE FILED BEFORE YOU R HONOUR. THUS REFERENCE TO ASSESSMENT YEAR 2008-09 IS A MISTAKE APPARENT FROM RECORD AND THE SAME NEEDS TO BE RECTIFIED AND REFERENCE IS TO BE MADE TO CTT( A)'S ORDERS FOR THE ASSESSMENT YEAR 2011-12 & 2012-13. 2. DURING THE COURSE OF HEARING THE LD. COUNSEL FOR THE ASSESSEE REITERATED THE CONTENTS OF THE AFORESAID MISC. APPLICATION AND SUBMITTED THAT DUE TO TYPOGRAPHICAL MISTAKE THE A.Y. IN SEVENTH LINE OF PARA 7AND SIXTH LINE OF PARA 9 HAS WRONGLY BEEN MENTIONED AS A.Y. 2008-09 INSTEAD OF A.Y. 2011-12 AND 2012- 13. IT WAS SUBMITTED THAT THE LD. CIT(A) DECIDED TH E ISSUE IN FAVOUR OF THE ASSESSEE FOR THE A.Y. 2011-12 AND 2012-13 VIDE ORDE R DT. 30/10/2018 ON THE BASIS OF CBDT CIRCULAR NO. 6/2016 DT. 29/02/2016, THEREFO RE THE MISTAKE APPARENT FROM THE RECORD MAY KINDLY BE RECTIFIED. 3. THE LD. SR. DR COULD NOT CONTROVERT THE AFORESAI D CONTENTION OF THE LD. COUNSEL FOR THE ASSESSEE. 4. AFTER CONSIDERING THE SUBMISSIONS OF BOTH THE PA RTIES AND THE MATERIAL AVAILABLE ON THE RECORD, IT IS NOTICED THAT INADVER TENTLY AND DUE TO OVERSIGHT IN 3 LINE SEVEN OF PARA 7 AND LINE SIX OF PARA 9 OF THE ORDER DT 27/07/2020 IN ITA NO. 1450/CHD/2017 FOR THE A.Y. 2009-10, ASSESSMENT YEAR HAD WRONGLY BEEN MENTIONED AS A.Y. 2008-09 INSTEAD OF A.Y. 2011-12 A ND 2012-13. WE THEREFORE RECTIFY THE SAID MISTAKE AND NOW INSTEAD OF A.Y. 20 08-09 IT SHOULD BE READ AS A.Y. 2011-12 AND 2012-13 IN PARA 7 AND PARA 9 OF THE SAI D ORDER DATED 27/07/2020. 5. IN THE RESULT, MISC. APPLICATION OF THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE COURT ON 15/06/2021. SD/- SD/- .. .., (R.L. NEGI ) ( N.K. SAIN I) # $%/ JUDICIAL MEMBER / VICE PRESIDENT AG DATE: 15/06/2021 (+! ,-.- COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. $ / CIT 4. $ / 01 THE CIT(A) 5. -2 45&456789 DR, ITAT, CHANDIGARH 6. 8:% GUARD FILE