+DCIT CC- 7(2), MUMBAI V. SAHEBRAO DESHMUKH CO.OP. BANK LTD., MUMBAI

MA 174/MUM/2023

• Counselvise Citation: [2023] 102 COUNSELVISE.COM (IT) 0019 (ITAT-MUMBAI)
• Duration Of Justice: 8 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 09-11-2023
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: G
• Next Hearing Date: 22-06-2023
• Assessment Year: 2014-2015
• Appeal Filed On: 14-02-2023
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Audit objection; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI PRASHANT MAHARISHI, AM AND MS. KAVITHA RAJAGOPAL, JM M A N o . 1 74/ M u m/ 20 2 3 (A ri s i n g ou t o f IT A N o. 24 78 / M u m/ 20 2 1) ( A s s e ss me nt Y ea r: 20 1 4- 15 ) Dy. CIT, Mumbai-400 020 V s. M/s. Sahebrao Deshmukh Co-op. Bank Ltd. 103, Trade Corner Society, Sakinaka Junction, Andheri (E), Mumbai-400 072 P A N / G I R N o. AA BA T 466 9 A (Applicant) : (Respondent) Applicant by : Shri Satish Modi Respondent by : Shri Aditya M.Rai D a te o f H e a r i n g : 23.06.2023 D ate of P ro n ou n ce me n t : 10.11.2023 O R D E R Per Kavitha Rajagopal, J M: This Miscellaneous Application has been filed by the Revenue for rectifying the order of the Tribunal in ITA No. 2478/Mum/2022 vide order dated 27.02.20222 relevant to A.Y. 2014-15. 2. The brief facts are that the Revenue had filed an appeal challenging the order of the ld. CIT(A) relevant to A.Y. 2014-15 on various grounds. The Tribunal vide order dated 27.07.2022 had dismissed the appeal filed by the Revenue on low tax effect as per Circular No. 17/2019 vide F.No.279/Misc.142/2007-ITJ(Pt.) dated 08.08.2019 with the liberty to the Revenue to recall the order if the same would fall under the exception 2 MA No. 1 7 4 / M u m / 2 0 2 3 ( A . Y . 2 0 1 4 - 1 5 ) Dy. CIT vs. M/s. Sahebrao Deshmukh Co-op. Bank Ltd. provided at para 10(e), i.e., on revenue audit objection as per the Circular No. 3 of 2018 dated 11.07.2018 amended by the Board’s letter dated 20.08.2018. 3. The learned Authorised Representative ('ld. AR' for short) had nothing to controvert the same. 4. We have heard the rival submissions and perused the materials available on record. It is observed that the present case would fall under the exception to the above mentioned circular and would be covered under para 10(e) on revenue audit objection as per the Board Circular No. 3 of 2018 dated 11.07.2018. We, therefore, deem it fit to recall the order of the Tribunal dated 27.07.2022. 5. In the result, the miscellaneous application filed by the Revenue is allowed. Order pronounced in the open court on 10.11.2023. Sd/- Sd/- (Prashant Maharishi) (Kavitha Rajagopal) Accountant Member Judicial Member Mumbai; Dated : 10.11.2023 Roshani , Sr. PS Copy of the Order forwarded to : 1. The Appellant 2. The Respondent 3. CIT - concerned 4. DR, ITAT, Mumbai 5. Guard File BY ORDER, (Dy./Asstt. Registrar) ITAT, Mumbai