Srichand G. Galani, Pune V. Deputy Commissioner of Income-tax, Circle - 5, Pune

MA 19/PUN/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 1032 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 4 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 18-03-2019
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 11-01-2019
• Assessment Year: 2008-2009
• Appeal Filed On: 14-03-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RAJESH GAWLI
• Assessee Lawyers: V L JAIN
• Keywords: Rectification of order

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, PUNE . , , , BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM . / MA NO. 19 /PUN/201 8 (ARISING OUT OF ITA NO . 342 /PUN/201 5 ) / ASSESSMENT YEAR : 20 0 8 - 09 MR. SRICHAND G. GALANI, 1088/A/3, RAVIWAR PETH, MANISH MARKET, PUNE - 411002 PAN : ABJPG4152H ....... PETITIONER / V/S. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 5, PUNE RESPONDENT ASSESSEE BY : SHRI V.L. JAIN REVENUE BY : SHRI RAJESH GAWLI / DATE OF HEARING : 01 - 02 - 2019 / DATE OF PRONOUNCEMENT : 18 - 0 3 - 2019 / ORDER PER VIKAS AWASTHY, JM : TH IS MISCELLANEOUS APPLICATION HAS BEEN FILED BY THE ASSESSEE /PETITIONER U/S. 254(2) O F THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT ) SEEKING RECTIFICATION OF MISTAKE IN THE ORDER OF TRIBUNAL DATED 08 - 12 - 2017 VIDE WHICH APPEAL OF THE ASSESSEE IN ITA NO . 342/PUN/2015 FOR THE ASSESSMENT YEAR 20 0 8 - 09 WAS PARTLY ALLOWED . 2 MA NO. 19/PUN/2018, A.Y. 2008 - 09 2. SHRI V.L. JAIN APPEARING ON BEHALF OF THE ASSESSEE SUBMITTED THAT IN PARA 7 OF THE ORDER THE TRIBUNAL HAS OBSERVED THAT : EXCEPT FOR BALD ASSERTIONS THE ASSESSEE HAS NOT PLACED ON RECORD ANY DOCUMENTARY EVIDENCE, WHATSOEVER TO SHOW THAT ADVANCE TO NAGPAL LANDMARKS WAS IN THE FORM OF INVESTMENT AGAINST PROPERTY. THE OBSERVATION S OF THE TRIBUNAL ARE CONTRARY TO THE FACTS . THE ASSESSEE HAS PLACED ON RECORD LEDGER ACCOUNTS TO SUBSTANTIATE ITS CLAIM. THE LD. AR FURTHER POINTED THAT SIMILAR OBSERVATION S WERE MADE BY THE TRIBUNAL IN PARA 6 OF THE ORDER WHEREIN THE TRIBUNAL HAD REMARKED THAT NO DOCUMENTARY EVIDENCE HAS BEEN BROUGHT ON RECORD BY THE ASSESSEE TO SUBSTANTIATE THAT IN LATTER PART OF TRANSACTIONS THE ASSESSEE HAD ADVANCED SUM TO JASHNANI LEASING & F INANCE LTD. FOR PURCHASE OF SHARES FOR TRADING PURPOSE. THE LD. AR CONTENDED THAT OBSERVATIONS MADE BY THE TRIBUNAL IN PARAS 6 AND 7 ARE CONTRARY TO THE FACTS AND HENCE ARE MISTAKE APPARENT FROM RECORD. THEREFORE, THE ORDER OF TRIBUNAL NEEDS RECTIFICATIO N. 3. ON THE OTHER HAND SHRI RAJESH GAWLI REPRESENTING THE DEPARTMENT VEHEMENTLY DEFENDED THE ORDER OF TRIBUNAL. THE LD. DR SUBMITTED THAT THE ASSESSEE IS SEEKING REVIEW OF THE ORDER IN THE GARB OF RECTIFICATION. THE LD. DR PRAYED FOR DISMISSING THE A PPEAL OF ASSESSEE. 4. W E HAVE HEARD THE SUBMISSIONS MADE BY REPRESENTATIVES OF RIVAL SIDES AND HAVE PERUSED THE ORDERS OF AUTHORITIES BELOW . THE LD. AR OF THE ASSESSEE HAS POINTED THAT THE OBSERVATIONS OF TRIBUNAL IN PARAS 6 AND 7 OF THE ORDER DATED 08 - 12 - 2017 WHEREIN IT HAS BEEN MENTIONED THAT NO DOCUMENTARY EVIDENCE HAS BEEN PLACED ON RECORD BY THE ASSESSEE IS CONTRARY TO THE FACTS. THE AS SESSEE HAS PRODUCED LEDGER ACCOUNTS TO SUPPORT ITS CONTENTIONS. WE HAVE GIVEN THOUGHTFUL CONSIDERATION TO THE SUBMISSIONS OF ASSESSEE. THE LEDGER ACCOUNTS ARE ASSESSEES OWN SELF 3 MA NO. 19/PUN/2018, A.Y. 2008 - 09 SERVING DOCUMENTS. THE ASSESSEE HAS NOT FURNISHED ANY INDEPENDENT EVIDENCE TO SUBSTANTIATE ITS CLAIM , T HEREFORE, THE REMARKS MADE BY THE TRIBUNAL IN PARAS 6 AND 7 STATING THAT NO DOCUMENTARY EVIDENCE WAS FILED BY THE ASSESSEE ARE VALID AND CORRECT. THE ASSESSEE HAS FAILED TO SHOW THAT THERE IS APPARENT MISTAKE IN THE ORDER OF T RIBUNAL WHICH REQUIRES RECTIFICATION. THE ASSESSEE IS SEEKING REVIEW IN THE GUISE OF RECTIFICATION PETITION U/S. 254(2) OF THE ACT , WHICH IS NOT PERMISSIBLE. WE DO NOT FIND ANY MERIT IN THE MISCELLANEOUS APPLICATION FILED BY THE ASSESSEE. ACCORDINGLY, T HE SAME IS DISMISSED. 5. IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY ASSESSEE IS DISMISSED. ORDER PRONOUNCED ON MONDAY, T HE 18 TH DAY OF MARCH, 2019. SD/ - SD/ - ( . /D. KARUNAKARA RAO ) ( / VIKAS AWASTHY) / ACCOUNTANT MEMBER / JUDICIAL MEMBER / PUNE; / DATED : 18 TH MARCH, 2019. RK / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 4, PUNE 4. THE PR. COMMISSIONER OF INCOME TAX - 3, PUNE 5. , , , / DR, ITAT, A BENCH, PUNE. 6. / GUARD FILE. / / // TRUE COPY// / BY ORDER, / PRIVATE SECRETARY, , / ITAT, PUNE