M/s. NISHRIN TRADING AND INVESTMENT PVT. LTD., MUMBAI V. DCIT, CC-7(3), MUM,BAI, MUMBAI

MA 205/MUM/2023

• Counselvise Citation: [2023] 100 COUNSELVISE.COM (IT) 6769 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 9 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 05-10-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 06-07-2023
• Assessment Year: 2008-2009
• Appeal Filed On: 26-02-2023
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 68; 254(2)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, AM AND MS. KAVITHA RAJAGOPAL, JM M A N o s . 2 05 & 2 0 6/ M u m/ 20 2 3 (A ri s i n g ou t o f CO N o. 4 2/ M u m/ 20 19 & IT A N o. 61 25/ M um/ 2 01 9) ( A s s e ss me nt Y ea r: 20 0 8- 09 ) M/s. Nishrin Trading and Investment Pvt. Ltd. Ground Floor, Sir Navroji Vakil Street, GrantRoad, Mumbai-400 007 V s. DCIT, Central Circle-7(3) Mumbai – 400 020 P A N / G I R N o. AA A CN 167 0 J (Applicant) : (Respondent) Applicant by : Shri Rushabh Mehta Respondent by : Shri Manoj Kumar Sinha D a te o f H e a r i n g : 07.07.2023 D ate of P ro n ou n ce me n t : 06.10.2023 O R D E R Per Kavitha Rajagopal, J M: These Miscellaneous Applications have been filed by the assessee/applicant u/s. 254(2) of the Income Tax Act, 1961 (‘the Act' for short), recalling the order of the Tribunal dated 21.09.2022 relevant to Assessment Year (A.Y. for short) 2008-09. 2. The brief facts are that the Assessing Officer ('A.O.' for short) had made an addition on the share application money received by the assessee from various parties alleged to be accommodation entry providers. 3. The first appellate authority had partly deleted the addition made by the ld. A.O. pertaining to some of the parties. 4. The Revenue was in appeal before the Tribunal challenging the order of the ld. CIT(A) and the assessee had also challenged the order of the ld. CIT(A) by way of cross objection. The Tribunal vide order dated 21.09.2022 upheld the addition made by the ld. 2 M A N o s . 2 0 5 & 2 0 6 / M u m ( A . Y . 2 0 0 8 - 0 9 ) M/s. Nishrin Trading and Investment Pvt. Ltd. vs. DCIT A.O. and allowed the appeal filed by the Revenue and had dismissed the cross objection filed by the assessee. The assessee/applicant has filed these present miscellaneous applications for recalling the impugned order passed by the Tribunal. 5. We have heard the rival submissions and perused the materials available on record. The learned Authorised Representative ('ld. AR' for short) for the assessee contended that the co-ordinate bench has not considered all the submissions made by the assessee. The ld. AR further stated that the Tribunal has not considered the documentary evidence pertaining to the identity, genuineness and creditworthiness warranted u/s. 68 of the Act and prayed for recalling the order of the Tribunal. 6. The learned Departmental Representative ('ld.DR' for short) vehemently controverted the submission of the ld. AR. 7. We have heard the rival submissions and perused the materials available on record. It is observed that the Tribunal in its order dated 21.09.2022 has given a detailed finding on the merits of the case after perusal of the submission made by both the sides. The Tribunal has also looked into the documentary evidences furnished by either party. We do not find any mistake apparent in the order of the Tribunal. The power of rectification u/s. 254(2) of the Act can be exercised only when the mistake which is sought to be rectified is an obvious patent mistake, which is apparent from record and not a mistake which is required to be established by arguments and long drawn process of reasoning on points on which there may conceivably be two opinions. We are, therefore, of the considered view that the miscellaneous applications filed by the applicant/assessee are devoid of merits. 3 M A N o s . 2 0 5 & 2 0 6 / M u m ( A . Y . 2 0 0 8 - 0 9 ) M/s. Nishrin Trading and Investment Pvt. Ltd. vs. DCIT 8. In the result, the miscellaneous applications filed by the applicant/assessee are dismissed. Order pronounced in the open court on 06.10.2023. Sd/- Sd/- (Amarjit Singh) (Kavitha Rajagopal) Accountant Member Judicial Member Mumbai; Dated : 06.10.2023 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