Smt. S.M.Shoba, Bengaluru V. Income Tax Officer, Ward - 7(2)(1), Bangalore

MA 31/BANG/2023

AI Insights

The case revolves around a typographic error in the Income Tax Appellate Tribunal's order dated 06.09.2022, concerning the exemption amount under section 54F for the assessee, Smt. S.M. Shobha, for the assessment year 2016-17. The original order mistakenly stated the exemption amount as Rs. 65 lakhs instead of the correct amount of Rs. 3,27,03,509, which was the amount claimed by the assessee and allowed by the Assessing Officer in the assessment order. The assessee filed a miscellaneous petition to rectify this error. The Tribunal acknowledged the mistake and corrected the exemption amount in their order dated 03-05-2023.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 124401 (ITAT-BANGALORE)
• Duration Of Justice: 4 month(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 02-05-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 20-04-2023
• Assessment Year: 2016-2017
• Appeal Filed On: 02-01-2023
• Other Referred Cases: CIT Vs. Sambandam
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH : BANGALORE BEFORE SHRI. CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER M.P. No. 31/Bang/2023 (in ITA No. 1955/Bang/2019) Assessment Year : 2016-17 Smt. S.M. Shobha, No. 1489, First Floor, 40 th Cross, 4 th T Block, Jayanagar, Bengaluru – 560 041. PAN: CXKPS1454H Vs. The Income Tax Officer, Ward 7 (2)(1), Bangalore. APPELLANT RESPONDENT Assessee by : Shri Sandeep, CA Revenue by : Shri Srinivasa Rao, JCIT (DR) Date of Hearing : 21-04-2023 Date of Pronouncement : 03-05-2023 ORDER PER BEENA PILLAI, JUDICIAL MEMBER The present miscellaneous petition is filed by assessee seeking certain typographic rectification in the order passed by this Tribunal dated 06.09.2022. 2. The Ld.AR submitted that in para 19 at page 13 of the impugned order, the amount of exemption eligible to assessee u/s. 54 is wrongly mentioned to be Rs. 65 lakhs as against the claim allowed by the Ld.AO in the assessment order amounting to Rs.3,27,03,509/-. Page 2 M.P. No. 31/Bang/2023 (in ITA No. 1955/Bang/2019) 3. We have perused the assessment records and the arguments advanced by the Ld.AR in MP and note that the exemption claimed by the assessee originally was Rs.3,27,03,509/- and the amount that was restricted by the Ld.AO to Rs.3,12,13,249/-. The said mistake deserves to be rectified as the assessee had raised ground no. 5 wherein the claim of exemption u/s. 54 is of Rs.3,27,03,509/-. As this Tribunal held that the claim u/s. 54 is available to the assessee in entirety, the mistake crept in quantification in para 19 deserves to be rectified. 4. Accordingly we correct the mistake crept in para 19 and the same shall be read as under: “19. Respectfully applying ration of Hon’ble Karnataka High Court in case of CIT Vs. Sambandam (Supra), we hold that assessee is eligible for exemption of Rs.3,27,03,509/- u/s 54F.” 5. No other portion of the order has been sought for any rectification and the result remains to be unaltered. In the result, the miscellaneous petition filed by the assessee stands allowed. Order pronounced in the open court on 03 rd May, 2023. Sd/- Sd/- (CHANDRA POOJARI) (BEENA PILLAI) Accountant Member Judicial Member Bangalore, Dated, the 03 rd May, 2023. /MS / Page 3 M.P. No. 31/Bang/2023 (in ITA No. 1955/Bang/2019) Copy to: 1. Appellant 4. CIT(A) 2. Respondent 5. DR, ITAT, Bangalore 3. CIT 6. Guard file By order Assistant Registrar, ITAT, Bangalore