Azizuddin Latiphoddin Kazi L/H of Deceased Latiphoddin Ajimoddin Kazi, Latur V. The Income Tax Officer, Ward-4, Latur

MA 249/PUN/2023

AI Insights

The case involves Azizuddin Latiphoddin Kazi, who filed a miscellaneous application under section 254(2) of the Income Tax Act, 1961, seeking to recall the Tribunal's order dated 18.08.2023. This order had affirmed the lower authorities' decision that his interest income from compulsory land acquisition was taxable. The Tribunal, after hearing both parties and reviewing the case file, decided that the application did not present any apparent mistake in the law or facts that would justify recalling the earlier decision. The Tribunal referenced decisions from the Hon'ble Supreme Court and the jurisdictional High Court to support its conclusion.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 138054 (ITAT-PUNE)
• Duration Of Justice: 1 month(s) 15 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 15-10-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 14-09-2023
• Assessment Year: 2013-2014
• Appeal Filed On: 31-08-2023
• Other Referred Cases: ACIT vs. Saurashtra Kutch Stock Exchange Ltd., [2008] 305 ITR 227 (SC), CIT vs. Reliance Telecom Ltd., [2021] 133 taxmann.com 41 (SC)
• Laws Referred To: Income Tax Act, 1961, Land Acquisition Act, 1894, The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: KALPESH KUMAR RUPAVATIYA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE “SMC” BENCH : PUNE BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER M.A.No.249/PUN./2023 Arising out of I.T.A.No.835/PUN./2023 - Assessment Year 2013-2014 Azizuddin Latiphoddin Kazi, L/H of Deceased Latiphoddin Ajimoddin Kazi, Block No.71, Kazi Nivas, Dastagir Galli, Tal. Ahmedpur, Latur-413515 Maharashtra. PAN AYNPK5231E vs. The Income Tax Officer, Ward – 4, Latur. (Applicant) (Respondent) For Assessee : Shri P P Kulkarni For Revenue : Shri Kalpesh Kumar Rupavatiya Date of Hearing : 15.09.2023 Date of Pronouncement : 16.10.2023 ORDER PER SATBEER SINGH GODARA, J.M. : This assessee’s miscellaneous application filed u/s.254(2) of the Income Tax Act, 1961 seeks to recall the tribunal’s order dated 18.08.2023 upholding the lower authorities action in assessing his interest income received u/sec.28 of the Land Acquisition Act, 1894, as taxable under the provisions of the Income Tax Act, 1961 (in short "the Act"). Heard both the parties. Case file perused. 2 M.A.No.249/PUN./2023 2. Learned counsel vehemently submits during the course of hearing that this tribunal’s impugned order committed apparent mistake in law and on facts in affirming both the lower authorities action holding his interest income u/sec.28 of the Land Acquisition Act as taxable. 3. This tribunal finds no merit in the assessee’s instant sole substantive grievance raised in sec.254(2) rectification proceedings which are confined to only apparent mistakes on record as per hon’ble apex court’s landmark decision in the case of ACIT vs. Saurashtra Kutch Stock Exchange Ltd., [2008] 305 ITR 227 (SC); CIT vs. Reliance Telecom Ltd., [2021] 133 taxmann.com 41 (SC) than those involving detailed roving enquiries. Keeping in mind the same, it is noticed that this tribunal has considered hon’ble jurisdictional high court’s decision in deciding the instant main issue against the assessee and in Revenue’s favour. 4. Although learned counsel has vehemently contended that the series of judicial precedents as well as compulsory acquisition of the assessee’s land have not been considered, the same is found to be devoid of any merit once the issue has been decided in Revenue’s favour by following the jurisdictional bench of hon’ble high court on the very issue. This is indeed coupled with the fact that there is no notification on record that assessee is covered under The Right 3 M.A.No.249/PUN./2023 to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013. Rejected accordingly. 5. This assessee’s miscellaneous application is dismissed in above terms. Order pronounced in the open Court on 16.10.2023. Sd/- [SATBEER SINGH GODARA] JUDICIAL MEMBER Pune, Dated 16 th October, 2023 VBP/- Copy to 1. The applicant 2. The respondent 3. The NFAC, Delhi. 4. The CIT(A)-1, Nashik 5. D.R. ITAT – ‘SMC’ Bench, Pune. 6. Guard File. //By Order// //True Copy // Assistant Registrar, ITAT, Pune Benches, Pune.