M/s Santosh Kumar Kejriwal Securities Ptv. Ltd., Kolkata V. ACIT, Circle-5, Kolkata, Kolkata

MA 32/KOL/2012

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 8184 (ITAT-KOLKATA)
• Duration Of Justice: 1 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 04-05-2012
• Appeal Filed By: Assessee
• Bench Allotted: C
• Assessment Year: 2005-2006
• Appeal Filed On: 14-03-2012
• Court: TRIBUNAL
• Department Lawyers: A ROY

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL, BEN CH C, KOLKATA () BEFORE , , , , , SHRI MAHAVIR SINGH, JUDICIAL MEMBER. /AND . .. . ! ! ! !. .. . , '# SHRI C.D.RAO, ACCOUNTANT MEMBER $ $ $ $ / M.A.NO.32/KOL/2012 A/O ITA NO . 1168/KOL/2009 %& '(/ ASSESSMENT YEAR : 2005-06 (*+ / APPELLANT ) M/S.SANTOSH KUMAR KEJRIWAL SECURITIES PVT.LTD., KOLKATA (PAN: AAHCS 0077 P) - % - - VERSUS - . (-.*+/ RESPONDENT ) A.C.I.T., CIRCLE-5, KOLKATA *+ / 0 '/ FOR THE APPELLANT: SHRI RAVI TULSIYAN -.*+ / 0 '/ FOR THE RESPONDENT: SHRI A.ROY 1%2 / !# /DATE OF HEARING : 04.05.2012 3' / !# /DATE OF PRONOUNCEMENT : 04.05.2012. '4 / ORDER ( (( ( . .. . ! ! ! !. .. . ) )) ), , , , '# PER SHRI C.D.RAO, AM THE ABOVE MISCELLANEOUS APPLICATION HAS BEEN FILED BY ASSESSEE TO RECTIFY THE ORDER OF THE TRIBUNAL DATED 11.02.2011 VIDE ITA NO. 1168/KOL/2009 PERTAINING TO A.YR. .2005-06. 2. BY THIS MISCELLANEOUS APPLICATION ASSESSEE WANTS TO RECALL THE ORDER OF TRIBUNAL DATED 11.02.2011 BY STATING AS UNDER :- IN THIS CONNECTION, IT IS TO BE POINTED OUT MOST R ESPECTFULLY THAT ACTUALLY THE AO DID NOT DISALLOW 1% OF THE DIVIDEND INCOME OF RS.56,05,514/ -. ON THE OTHER HAND, HE DISALLOWED RS.3,23,328/- BEING 1% OF THE TOTAL EXPENDITURE OF RS.3,23,32,823/-. IT IS THEREFORE BEING PRAYED THAT THE ORDER OF THE ITAT DATED 11.02.2011 BE KINDLY RECTIFIED U/S.254(2) OF THE L.T.ACT, 1961 BY MENTIO NING THAT THE AO HAS ACTUALLY DISALLOWED 1% OF THE TOTAL EXPENDITURE AND THEREAFT ER BY DIRECTING THE AO TO DISALLOW 1% OF THE ACTUAL DIVIDEND INCOME BEING RS.56,05,514 /- THE AMOUNT OF DISALLOWANCE IS THEREFORE BEING PRAYED TO BE LIMITED TO RS.56,055/- ONLY 2 3. AT THE TIME OF HEARING ALSO THE LD. COUNSEL APP EARING ON BEHALF OF ASSESSEE BY REFERRING TO THE ASSESSMENT ORDER SUBSTANTIATING TH E ABOVE SUBMISSION THAT AO HAS DISALLOWED 1% OF THE DIVIDEND EXPENDITURE INSTEAD O F 1% OF THE DIVIDEND INCOME THEREFORE HE REQUESTED TO RECALL THE SAME. 4. ON THE OTHER HAND, THE LD. DR APPEARING ON BEHAL F OF THE REVENUE COULD NOT CONTRADICT THE ABOVE SUBMISSIONS OF THE LD. COUNSE L FOR ASSESSEE. 5. AFTER HEARING THE RIVAL SUBMISSIONS AND ON CAREF UL PERUSAL OF MATERIALS AVAILABLE ON RECORD, SINCE THIS TRIBUNAL HAS DECIDE D THE ISSUE BASED ON WRONG FACTS, IN OUR CONSIDERED OPINION, THIS WILL TANTAMOUNT TO A M ISTAKE APPARENT FROM RECORD. THEREFORE WE RECALL OUR ORDER DATED 11.02.2011 VIDE ITA NO.1168/KOL/2009 AND HEARD THE APPEAL SIMULTANEOUSLY ALONG WITH THE MISC ELLANEOUS APPLICATION. 6. IN THE RESULT THE MISCELLANEOUS APPLICATION IS A LLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 04.05.2012. SD/- SD/- , , , , MAHAVIR SINGH, JUDICIAL MEMBER . .. . ! ! ! !. .. . , , , , '# '# '# '# , C.D.RAO, ACCOUNTANT MEMBER. ( (( (!# !# !# !#) )) ) DATE: 04.05.2012. '4 / -5 6'5'7- COPY OF THE ORDER FORWARDED TO: 1. M/S.SANTOSH KUMAR KEJRIWAL SECURITIES PVT. LTD., 2- BRABOURNE ROAD, GOVIND BHAWAN, 6 TH FLOOR, KOLKATA-700001. 2 A.C.I.T., CIRCLE-5, KOLKATA 3. THE CIT-II, KOLKATA, 4. THE CIT(A)-V, KOLKATA 5. DR, KOLKATA BENCHES, KOLKATA .5 -/ TRUE COPY, '4%1/ BY ORDER, DEPUTY /ASST. REGISTRAR , ITAT, KOLKATA BENCHES R.G.(.P.S.) 3