V.Ravishankar, CHENNAI V. ACIT, CHENNAI

MA 195/CHNY/2018

• Counselvise Citation: [2018] 118 COUNSELVISE.COM (IT) 8715 (ITAT-CHENNAI)
• Duration Of Justice: 3 month(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 20-12-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: D
• Assessment Year: 2012-2013
• Appeal Filed On: 19-09-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: V NANDA KUMAR
• Assessee Lawyers: B SURESH
• Keywords: Deemed dividend
• Section: 195

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, CHENNAI . . . , , # BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER M.P. NO. 195 / CHNY /201 8 ( ./I.T.A. NO. 3285/CHNY/2016) / ASSESSMENT YEAR: 2012-13 SHRI. V. RAVISHANKAR, C/O, B SURESH, CA., 25/13, I FLOOR, AKBAR SAHIB STREET, TRIPLICANE, CHENNAI 600 005. [PAN: AKAPR 8859A] VS. THE ASST. COMMISSIONER OF INCOME TAX, NON CORPORATE CIRCLE 15(1), CHENNAI. ( / APPELLANT) ( / RESPONDENT) ASSESSEE BY : SHRI B. SURESH, CA REVENUE BY : SHRI V. NANDA KUMAR, JCIT % /DATE OF HEARING : 30.11.2018 % /DATE OF PRONOUNCEMENT : 20.12.2018 / O R D E R PER S. JAYARAMAN, ACCOUNTANT MEMBER: SHRI V. RAVISHANKAR, THE ASSESSEE, FILED THIS MISC ELLANEOUS PETITION AGAINST THE ORDER OF THIS TRIBUNAL IN ITA NO. 3285/ CHNY/2016 DATED 20.03.2018 FOR ASSESSMENT YEAR 2012-13, PLEADING TH AT THE DECISION :-2-: MP. NO.195/CHNY/2018 MADE BY THIS TRIBUNAL ON THE ISSUES OF PROFIT ON IN COMPLETE PROJECT AND DEEMED DIVIDEND REQUIRE RECTIFICATION. ON THE ISSU E OF PROFIT ON INCOMPLETE PROJECT, THE LD. AR SUBMITTED THAT THIS TRIBUNAL HAS NOT CONSIDERED CERTAIN DECISIONS AND HENCE THERE IS AN ERROR. WITH REGARD TO THE DEEMED DIVIDEND ALSO, THE LD. AR MADE SIMILAR P LEA. PER CONTRA, THE LD. DR SUBMITTED THAT THIS TRIBUNAL HAS CONSIDERED THE ISSUES ELABORATELY, FOR EXAMPLE, ON THE ISSUE OF PROFIT ON INCOMPLETE P ROJECT, IN PARA 3 TO 4.1, WHEREIN, THIS TRIBUNAL CLEARLY RECORDED FINDIN GS AS TO THE ASSESSEES METHOD OF MAINTAINING ACCOUNTS VIZ-A-VIZ ITS CLAIM AND FOR THE ELABORATE REASONS HELD THAT THE ADDITION MADE BY THE AO AND S USTAINED BY THE CIT(A) DOES NOT REQUIRE ANY INTERFERENCE. SIMILARL Y, ON THE ISSUE OF DEEMED DIVIDEND ALSO, THIS TRIBUNAL VERY ELABORATEL Y DEALT THE ISSUES FROM PARA 5 TO 5.3 AND AFTER CONSIDERING THE FACTS WITH REFERENCE TO TRIBUNAL DECISION AND APPLYING THE DECISION OF THE HONBLE S UPREME COURT IN THE CASE OF MS. P. SHARADA VS CIT, 299 ITR 444 DECIDED THE ISSUE AND HENCE THERE IS NO APPARENT MISTAKE FROM RECORD. 2. WE HEARD THE RIVAL SUBMISSIONS AND GONE THROUGH THE IMPUGNED ORDER. FROM VARIOUS JUDGEMENTS OF THE SUPREME COUR T AND OTHER HIGH COURTS, IT IS CLEAR, THAT THE TRIBUNALS POWER U/S . 254(2) IS NOT TO REVIEW ITS EARLIER ORDER, BUT ONLY TO AMEND IT WITH A VIEW TO RECTIFY ANY MISTAKE APPARENT FROM THE RECORD. AN ERROR APPARENT ON THE RECORD MEANS AN :-3-: MP. NO.195/CHNY/2018 ERROR WHICH STRIKES ONE ON MERE LOOKING AND DOES NO T NEED A LONG DRAWN OUT PROCESS OF REASONING ON POINTS ON WHICH THERE M AY BE CONCEIVABLY TWO OPINIONS. THE ERROR SHOULD NOT REQUIRE ANY EXT RANEOUS MATTER TO SHOW ITS INCORRECTNESS. IF THE VIEW ACCEPTED BY TH E TRIBUNAL IN THE IMPUGNED ORDER IS ONE OF POSSIBLE VIEWS, THE CASE C ANNOT BE SAID TO BE COVERED BY AN ERROR APPARENT ON THE FACE OF THE REC ORD. SINCE THE ASSESSEE IS NOT ABLE TO EXACTLY POINT OUT THE MISTA KES APPARENT FROM THE RECORD, THE MP IS DISMISSED. 3. IN THE RESULT, THE MISCELLANEOUS PETITION FILED BY THE ASSESSEE IS DISMISSED. ORDER PRONOUNCED ON THURSDAY, THE 20 TH DAY OF DECEMBER, 2018 AT CHENNAI. SD/- ( . . . ) (N.R.S. GANESAN) /JUDICIAL MEMBER SD/- ( ) (S. JAYARAMAN) /ACCOUNTANT MEMBER /CHENNAI, * /DATED: 20 TH DECEMBER, 2018 JPV %+,-.- /COPY TO: 1. 0/ APPELLANT 2. +20 /RESPONDENT 3. 3 ) (/CIT(A) 4. 3 /CIT 5. -+ /DR 6. 5 /GF