LAKSHMIWADI MINES AND MINERALS P.LTD, V. DCIT (OSD) CIR 2(2),

MA 261/MUM/2015

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4780 (ITAT-MUMBAI)
• Duration Of Justice: 10 month(s) 17 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-09-2016
• Appeal Filed By: Assessee
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 06-11-2015
• Court: TRIBUNAL
• Department Lawyers: A K DAS
• Keywords: Deemed dividend

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A , BENCH MUMBAI BEFORE SHRI R. C. SHARMA , A M & SHRI AMIT SHUKLA , J M MISCELLANEOUS APPLICATION NO. 261 / MUM/20 1 5 (ARISING OUT OF ITA NO . 7542 /MUM/2 01 1 ) ( / ASSESSMENT YEAR : 20 0 8 - 20 09 ) LAKSHMIWADI MINES & MINERALS PVT. LTD., SOMAIYA BHAVAN, 45 - 47, M.G.ROAD, FORT, MUMBAI - 400001 VS. DCIT(OSD), CC - 2(2), MUMBAI - 20 ./ ./ PAN/GIR NO. : A A ACL 1756 F /A SSESSEE BY : SHRI NISHIT GANDHI /REVENUE BY : SHRI A.K.DAS / DATE OF HEARING : 06 /0 5 /2016 / DATE OF PRONOUNCEMENT : 06/05 / 2016 / O R D E R PER R.C.SHARMA ( A .M.) : TH IS MIS CELLANEOUS APPLICATION FILED BY THE ASSESSE E IN RESPECT OF THE ORDER PASSED BY THE TRIBUNAL DATED 25 - 2 - 2015 IN ITA NO.7542/MUM/2011 FOR THE ASSESSMENT YEAR 2008 - 09. 2. IT WAS CONTENDED BY LD. AR THAT IN FORM NO.3, THE ASSESSEE HAS TAKEN TWO GROUNDS, FIRST WAS WITH REGARD TO DISALLOWANCE OF INTEREST AND SECOND WITH REGARD TO ADDITION MADE ON ACCOUNT OF DEEMED DIVIDEND U/S.2(22)(E) AMOUNTING TO RS.11,50,000/ - . IT WAS SUBMITTED THAT GROUND NO.2 WAS NOT ADJUDICATED BY TRIBUNAL, WHICH AMOUNTS TO MISTAKE APPARENT ON RECORD. 3. WE HAVE GONE THROUGH THE MISCELLANEOUS PETITION AS WELL AS ORDER OF THE TRIBUNAL DATED 25 - 2 - 2015. WE FOUND THAT GROUND NO.2 WITH REGARD TO ADDITION ON ACCOUNT OF DEEMED DIVIDEND U/S.2(22)(E) AMOUNTING TO RS.11,50,000/ - HAS NOT BEEN ADJUDICAT ED BY TRIBUNAL WHICH AMOUNTS TO M A NO. 261 /1 5 2 MISTAKE APPARENT FROM THE RECORD. TO RECTIFY THE SAME, WE RECALL THE ORDER DATED 25 - 2 - 2015 TO A LIMITED EXTENT OF DECIDING GROUND NO.2 AS DISCUSSED ABOVE. 4 . IN THE RESULT, MISCELLANEOUS APPLICATION OF THE ASSESSEE IS ALLOWE D IN PART, IN TERMS INDICATED HEREINABOVE . ORDER PRONOUNCED IN THE OPEN COURT ON THIS 06/05 / 201 6 SD/ - SD/ - AMIT SHUKLA R.C.SHARMA JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI ; DATED 06/05 /201 6 . . /PKM , . / PS / COPY OF THE ORDER FORWARDED TO : / BY ORDER, ( ASSTT. REGISTRAR) , / ITAT, MUMBAI 1. / THE APPELLANT 2. / THE RESPONDENT. 3. ( ) / THE CIT(A), MUMBAI. 4. / CIT 5. , , / DR, ITAT, MUMBAI 6. / GUARD FILE. //TRUE COPY//