GLOBAL WOOL ALLIANCE P. LTD, V. ASST CIT CIR 1,

MA 350/MUM/2016

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5461 (ITAT-MUMBAI)
• Duration Of Justice: 5 month(s) 5 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 31-03-2017
• Appeal Filed By: Assessee
• Bench Allotted: G
• Assessment Year: 2007-2008
• Appeal Filed On: 25-10-2016
• Court: TRIBUNAL
• Department Lawyers: JYOTHILAKSHMI NAYAK

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL G , BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM & SHRI PAWAN SINGH , JM M.A.NO.350/MUM/2016 (ARISING OUT OF ITA NO. 6052 / MUM/20 1 3 ( ASSESSMENT YEAR : 2007 - 08 ) M/S.GLOBAL WOOL ALLIANCE PVT. LTD., 264, VILLAGE KALAMG AON, MUMBAI NASHIK ROAD, TALUKA SHAHPUR DISTRICT THANE VS. ASST. CIT CIR 1, THANE PAN/GIR NO. AAACM4121H APPELLANT ) .. RESPONDENT ) ASSESSEE BY SHRI RUTURAJ H GURJAR REVENUE BY MS. JYOTHI LAKSHMI NAYAK DATE OF HEARING 31 / 0 3 /201 7 DATE OF PRONOUNCEME NT 31 / 03 /201 7 / O R D E R PER R.C.SHARMA (A.M) : THROUGH THIS M.A, ASSESSEE SUBMITTED THAT THERE IS A CLERICAL MISTAKE IN THE ORDER OF TRIBUNAL IN SO FAR AS IN PARA 3 ( LAST FOUR LINES ) , THE TRIBUNAL NOTED T HE ADDITION ON ACCOUNT OF INTEREST CONFIRMED BY CIT(A) AMOUNTS TO RS.73,98,119/ - IN PLACE OF CORRECT AMO UNT OF RS.35, 1 9 ,132/ - . IT IS AN APPARENT MISTAKE, ACCORDINGLY, WE RECTIFY THE ORDER SO AS TO READ THE AMOUNT OF DISALLOWANCE CONFIRMED BY CIT(A) AT RS.73 ,98,119/ - PAID TO EAC TRADING LTD., 2 . WE FURTHER NOTE THAT IN APPEAL FILE OF THE ASSESSEE, TRIBUNAL HAVE DELETED THE ENTIRE DISALL OWANCE OF INTEREST BY OBSERVING THAT THERE IS NO M.A.NO.350/MUM/2016 M/S. GLOBAL WOOL ALLIANCE PVT. LTD., 2 DIVERSION OF FUNDS TO RELATED CONCERN WITH AN INTENTION TO REDUCE THE INCO ME . 3. IN THE RESULT, MISCE LLANEOUS APPLICATION IS ALLOWED IN TERMS INDICATED HEREINABOVE. O RDER PRONOUNCED IN THE OPEN COURT ON THIS 31 / 03 /2017 S D/ - ( PAWAN SINGH ) S D/ - ( R.C.SHARMA ) JUDICIAL MEMB ER ACCOUNTANT MEMBER MUMBAI ; DATED 31 / 03 /201 7 KARUNA SR. 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//