Dy CIT, Circle-2(1), Vijayawada V. Radhakrishna Automobiles Pvt.Ltd., Vijayawada

MA 19/VIZ/2018

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 6687 (ITAT-VISAKHAPATNAM)
• Duration Of Justice: 1 month(s) 7 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 09-05-2018
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2013-2014
• Appeal Filed On: 02-04-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S RAVI SHANKAR NARAYAN

Judgement Text

MP NO.19 /VIZAG/2018 M/S. RADHA KRISHNA AUTOMOBILES (PVT.) LTD., VIJAYAW ADA 1 , , IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM BENCH, VISAKHAPATNAM . , . .. . . . . . ' , % BEFORE SHRI V. DURGA RAO, JUDICIAL MEMBER & SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER M.P. NO.19/VIZAG/2018 (ARISING OUT OF I.T.A.NO.511/VIZAG/2017) ( / ASSESSMENT YEAR:2013-14) DCIT, CIRCLE - 2(1), VIJAYAWADA M/S. RADHA KRISHNA AUTOMOBILES (PVT.) LTD. (PAN NO.AADCR2845J) ( ' / APPELLANT) ( ()' / RESPONDENT) / APPELLANT BY : SHRI S. RAVI SHANKAR NARAYAN, DR / RESPONDENT BY : NONE / DATE OF HEARING : 04.05.2018 / DATE OF PRONOUNCEMENT : 0 9.05.2018 / O R D E R PER V. DURGA RAO, JUDICIAL MEMBER: BY THIS MISCELLANEOUS PETITION, THE REVENUE SOUGHT TO RECALL THE ORDER PASSED BY THIS TRIBUNAL VIDE ITA NO.511/VIZAG /2017 DATED 22.11.2017 ON THE GROUND THAT THE TRIBUNAL WHILE PA SSING THE ORDER HAS NOT CONSIDERED GROUND NO.4 RAISED BY THE DEPARTMENT AND PRAYED THAT MP NO.19 /VIZAG/2018 M/S. RADHA KRISHNA AUTOMOBILES (PVT.) LTD., VIJAYAW ADA 2 THE ORDER PASSED BY THE TRIBUNAL MAY BE RECALLED TO ADJUDICATE GROUND NO.4. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE. 3. WE HAVE HEARD THE LD. D.R. WE FIND THAT THE TRIBUN AL WHILE PASSING THE ORDER IN ITA NO.511/VIZAG/2017 DATED 22 .11.2017 FAILED TO ADJUDICATE THE FOLLOWING GROUND: 4. THE LD. CIT(A) HAS ERRED IN RESTRICTING THE DISA LLOWANCE OF INTEREST TO ` 7,93,334/- AS AGAINST ` 40,56,620/- MADE BY THE A.O. TAKING INTO ACCOUNT ONLY THE AMOUNT LENT DURING THE YEAR WHICH IS ` 66,11,114/- IGNORING THE OPENING BALANCE. 4. WE FIND THAT THERE IS A MISTAKE APPARENT ON RECOR D IN THE ORDER PASSED BY THE TRIBUNAL FOR NOT ADJUDICATING THE GRO UND NO.4, THEREFORE, IT HAS TO BE RECALLED. ACCORDINGLY, THE ORDER PASS ED VIDE ITA NO.511/VIZAG/2017 IS RECALLED ONLY TO LIMITED EXTEN T I.E. TO ADJUDICATE GROUND NO.4 AND FIX THE HEARING ON 27.07.2018 . REGISTRY IS DIRECTED TO ISSUE NOTICE ACCORDINGLY. 5. IN THE RESULT, THE MISCELLANEOUS PETITION FILED BY THE REVENUE IS ALLOWED. THE ABOVE ORDER WAS PRONOUNCED IN THE OPEN COURT ON 9 TH MAY18. SD/- SD/- ( . .. . . . . . ' ) ( . ) (D.S. SUNDER SINGH) (V. DURGA RAO) /ACCOUNTANT MEMBER /JUDICIAL MEMBER MP NO.19 /VIZAG/2018 M/S. RADHA KRISHNA AUTOMOBILES (PVT.) LTD., VIJAYAW ADA 3 ! /VISAKHAPATNAM: % /DATED : 9.5.2018 VG/SPS )! *! /COPY OF THE ORDER FORWARDED TO:- 1. / THE APPELLANT THE DCIT, CIRCLE-2(1), VIJAYAWAD A 2. / THE RESPONDENT M/S. RADHAKRISHNA AUTOMOBILES P VT. LTD. D.NO.27-33- 46, GUDAVALLIVARI STREET, GOVERNORPET, VIJAYAWADA 3. + / THE PRINCIPAL CIT, VIJAYAWADA 4. + ( ) / THE CIT (A), VIJAYAWADA 5. ! . , . , ! / DR, ITAT, VISAKHAPATNAM 6 . / GUARD FILE / BY ORDER // TRUE COPY // SR. PRIVATE SECRETARY ITAT, VISAKHAPATNAM