Superfine Metals P Ltd, Ahmednagar V. Assistant Commissioner of Income-Tax, Central Circle 1(2), , Pune

MA 374/PUN/2022

AI Insights

The case involves Superfine Metals P. Ltd., which filed a Miscellaneous Application seeking the recall of an order passed by the Income Tax Appellate Tribunal regarding the assessment year 2014-15. The application was based on the claim that the Assessing Officer should have allowed additional depreciation under section 32(1)(ii-a) of the Income Tax Act, 1961, suo motu, despite the absence of an application under section 154. The Tribunal dismissed the application, noting the absence of the applicant's representation and the lack of new arguments or evidence to support the recall of the previous order.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 137080 (ITAT-PUNE)
• Duration Of Justice: 5 month(s) 13 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 28-05-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 18-05-2023
• Assessment Year: 2014-2015
• Appeal Filed On: 15-12-2022
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Depreciation; Additional depreciation
• Section: 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER M.A. No.374/PUN/2022 (Arising out of ITA No.635/PUN/2021) िनधाᭅरण वषᭅ / Assessment Year : 2014-15 Superfine Metals P. Ltd., E-29/E-39, Supa MIDC, Tal. Parner, Ahmednagar- 414302. PAN : AAKCS6038H Vs. ACIT, Central Circle-1(2), Pune. Appellant Respondent आदेश / ORDER PER INTURI RAMA RAO, AM: This present Miscellaneous Application is filed by the assessee seeking the recall of the order passed by this Tribunal in ITA No.635/PUN/2021 for the assessment year 2014-15 dated 29.11.2022 on the ground that the Assessing Officer ought to have Assessee by : None Revenue by : Shri M. G. Jasnani Date of hearing : 19.05.2023 Date of pronouncement : 29.05.2023 MA No.374/PUN/2022 2 allowed the additional depreciation u/s 32(1)(ii-a) of the Income Tax Act, 1961 (‘the Act’) suo motu even in the absence of application u/s 154 of the Act by the assessee. 2. When the present Miscellaneous Application was called on, none appeared on behalf of the petitioner, the adjournment petition moved by the assessee is dismissed, as no valid reason was given as to how the assessee could not appear before this Tribunal. Hence, the adjournment petition moved by the petitioner is dismissed we proceed to dispose of this present Miscellaneous Application on merits. From the averments made in the present Miscellaneous Application, it would reveal that the petitioner is only trying to re-argue the appeal in the guise of rectification petition. No averments made in the Miscellaneous Application as to how the findings rendered by this Tribunal that the petition moved by the assessee u/s 154 was barred by limitation is incorrect. In the circumstances, the Miscellaneous Application filed by the assessee is highly misconceived and, accordingly, dismissed. MA No.374/PUN/2022 3 3. In the result, the Miscellaneous Application filed by the assessee stands dismissed. Order pronounced on this 29 th day of May, 2023. Sd/- Sd/- (S. S. VISWANETHRA RAVI) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER पुणे / Pune; ᳰदनांक / Dated : 29 th May, 2023. Sujeet आदेश कᳱ ᮧितिलिप अᮕेिषत / Copy of the Order forwarded to : 1. अपीलाथᱮ / The Appellant. 2. ᮧ᭜यथᱮ / The Respondent. 3. The CIT(A)-11, Pune. 4. The Pr. CIT (Central), Pune. 5. िवभागीय ᮧितिनिध, आयकर अपीलीय अिधकरण, “A” बᱶच, पुणे / DR, ITAT, “A” Bench, Pune. 6. गाडᭅ फ़ाइल / Guard File. आदेशानुसार / BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे / ITAT, Pune.