The South Indian Bank, Trichur V. The AddlCIT, Trichur

MA 30/COCH/2018

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 7023 (ITAT-COCHIN)
• Duration Of Justice: 1 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 17-08-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Assessment Year: 2011-2012
• Appeal Filed On: 22-06-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: NARAYANAN P POTTY
• Section: 14A; 10; 2; 11

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE S/SHRI CHANDRA POOJARI, AM & GEORGE GEORGE K., JM M.P. NO S . 29&30 /C OCH/201 8 (ARSG. OUT OF I.T.A. NOS.521&522/COCH/2016) ( ASSESSMENT YEAR S : 2 0 10 - 11 & 2011 - 12) M/S. SOUTH INDIAN BANK LTD., SIB HOUSE, P.B. NO. 28, MISSION QUARTERS, THRISSUR-680 001. [PAN : AABCT 0022F] VS. THE A DDL. C OMMISSIONER OF INCOME-TAX, RANGE-1, TRICHUR. (ASSESSEE - APPELLANT) (REVENUE - RESPONDENT) ASSESSEE BY SHRI NARAYANAN P. POTTY, ADV. REVENUE BY NONE DATE OF HEARING 17 / 0 8 /2018 DATE OF PRONOUNCEMENT 17 / 0 8 /2018 O R D E R PER CHANDRA POOJARI: AM BY THESE MISCELLANEOUS APPLICATIONS, THE ASSESSEE SEEKS TO RECTIFY THE ORDER OF THE TRIBUNAL DATED 17/04/2018, PASSED IN ITA NOS.521&522/COCH/2016 FOR THE ASSESSMENT YEARS 2010-11 AND 2011-12. M.P. NOS.29&30/COCH/2018 2 2. THE LD. AR SUBMITTED THAT THE ASSESSEE HAD CHALLENGED THE ORDER OF THE COMMISSIONER OF INCOME-TAX(APPEALS) FOR THE ASSESSMENT YEAR 2010-11 AND 2011-12, CONFIRMING THE DISALLOWANCE U/S. 14A OF THE I.T. ACT. THE FINDING AND THE ORDER OF THE CIT(A) WAS AFFIRMED BY THE TRIBUNAL IN PARA 4 OF THE ORDER. HOWEVER, INSTEAD OF DISMISSING THE GROUND TAKEN BY THE ASSESSEE, BY AN ERROR APPARENT ON RECORD, THE TRIBUNAL OBSERVED THAT THE GROUND TAKEN BY THE ASSESSEE FOR BOTH THE ASSESSMENT YEARS IS ALLOWED. SIMILARLY, IN THE FINAL RESULT, IT WAS STATED AS ALLOWED INSTEAD OF DISMISSED. IT WAS PRAYED THAT THE ABOVE MISTAKES APPARENT ON RECORD MAY BE RECTIFIED. 3. NONE APPEARED FOR THE DEPARTMENT. WE HAVE THE LD. AR. ADMITTEDLY, THERE WAS AN ERROR IN THE FINDING OF THE TRIBUNAL IN PARA 4. ACCORDINGLY, PARA 4 OF THE SAID ORDER IS TO BE READ AS FOLLOWS: 4. THE GROUND TAKEN BY THE ASSESSEE FOR BOTH THE ASSESSMENT YEARS IS DISMISSED. 4. SIMILARLY, THERE WAS AN ERROR IN THE FINAL RESULT OF THE TRIBUNAL IN PARA 6. ACCORDINGLY, PARA 6 OF THE SAID ORDER IS TO BE READ AS FOLLOWS: 6. IN THE RESULT, THE APPEALS OF THE ASSESSEE ARE DISMISSED AND THE APPEAL OF THE REVENUE IS DISMISSED. M.P. NOS.29&30/COCH/2018 3 4. IN THE RESULT, THE MISCELLANEOUS APPLICATIONS FILED BY THE ASSESSEES ARE ALLOWED. PRONOUNCED IN THE OPEN COURT ON 17 TH AUGUST, 2018. SD/- SD/- (GEORGE GEORGE K.) (CHANDRA POOJARI) JUDICIAL MEMBER ACCOUNTANT MEMBER PLACE: KOCHI DATED: 17 TH AUGUST, 2018 GJ COPY TO: 1. M/S. KANCOR INGREDIENTS LTD., XVII/138, KANAKKAKADAVU ROAD, ANGAMALY SOUTH, KOCHI-683 573. 2. THE ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE-1(2), KOCHI. 3. THE COMMISSIONER OF INCOME-TAX(APPEALS)-II, KOCHI. 4. THE PR. COMMISSIONER OF INCOME-TAX, KOCHI. 5. D.R., I.T.A.T., COCHIN BENCH, COCHIN. 6. GUARD FILE. BY ORDER (ASSISTANT REGISTRAR) I.T.A.T., COCHIN