ITO WARD 2(1), SANGLI V. Vishwasrao Balwant Kadam, Sangli

MA 378/PUN/2022

AI Insights

The case involves the Income Tax Officer, Ward-2(1), Sangli as the appellant and Vishwasrao Balwant Kadam, proprietor of Ambamaata Timber Deport, as the respondent. The Revenue filed a Miscellaneous Application under section 254(2) of the Income Tax Act to rectify the tribunal's earlier order which had partly allowed the assessee's appeal regarding the assessment year 2009-10. The dispute centered on the incorrect incorporation of figures related to excess cash and stock in the tribunal's order. The tribunal acknowledged the error and corrected the excess cash addition to Rs.45,000 while deleting the excess stock addition entirely.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 134073 (ITAT-PUNE)
• Duration Of Justice: 8 month(s) 3 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-08-2023
• Appeal Filed By: Department
• Order Result: PartlyAllowed
• Bench Allotted: SMC
• Next Hearing Date: 17-08-2023
• Assessment Year: 2009-2010
• Appeal Filed On: 20-12-2022
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 254(2)

Judgement Text

आयकर अपीलीय अिधकरण “एसएमसी” Ɋायपीठ पुणे मŐ। IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “SMC”, PUNE BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER Miscellaneous Application No.378/PUN/2022 (arising out of ITA No.45/PUN/2020) िनधाᭅरण वषᭅ / Assessment Year : 2009-10 The Income Tax Officer, Ward-2(1), Sangli. Vs . Vishwasrao Balwant Kadam, Pro. Ambamaata Timber Deport, Padali Road, Shirala, Dist.Sangli – 415408. PAN: AHLPK0527C Appellant / Revenue Respondent / Assessee Assessee by Shri Kishor B Phadke – AR Revenue by Shri M.G.Jasnani – DR Date of hearing 18/08/2023 Date of pronouncement 24/08/2023 आदेश/ ORDER Per S.S.Godara, JM: This Revenue’s Miscellaneous Application MA No.378/PUN/2022 filed under section 254(2) of the Act to recall/rectify the tribunal’s order dated 31.05.2022 partly allowing the assessee’s corresponding main appeal ITA No.45/PUN/2020. Heard both the parties at length. Case file perused. 2. The Revenue vehemently stated during the course of hearing that the tribunal’s impugned order has wrongly incorporated the corresponding figures of excess cash of Rs.3,00,00/- and excess stock of Rs.8,50,000/-; Miscellaneous Application No.378/PUN/2022 Vishwasrao Balwant Kadam [A] 2 respectively. It emerges during the course of hearing that there is hardly any confusion in the tribunal’s detailed discussion in para 2 wherein the excess stock addition of Rs.8,50,000/- stands deleted in entirety. So far as the excess cash issue of Rs.3,00,000/- is concerned, the same has been directed to be assessed @15% GP on the one hand and deleted to the extent of Rs.2,70,000/- on the other. It is in this factual backdrop the tribunal’s order requires limited rectification that the impugned addition of Rs.3,00,000/- would stand confirmed to the extent of Rs.45,000/- and the remaining sum of Rs.2,55,000/- only; than Rs.2,70,000/- hereinabove, gets deleted. Ordered accordingly. Necessary computation shall follow. 3. This Revenue’s Miscellaneous Application is partly allowed in above terms. Order pronounced in the open Court on 24 th August, 2023. Sd/- (S.S.GODARA) JUDICIAL MEMBER पुणे / Pune; ᳰदनांक / Dated : 24 th August, 2023/ SGR* आदेशकᳱᮧितिलिपअᮕेिषत / Copy of the Order forwarded to : 1. अपीलाथᱮ / The Appellant. 2. ᮧ᭜यथᱮ / The Respondent. 3. The CIT(A), concerned. 4. The Pr. CIT, concerned. 5. िवभागीयᮧितिनिध, आयकर अपीलीय अिधकरण, “एसएमसी” बᱶच, पुणे / DR, ITAT, “SMC” Bench, Pune. 6. गाडᭅफ़ाइल / Guard File. Miscellaneous Application No.378/PUN/2022 Vishwasrao Balwant Kadam [A] 3 आदेशानुसार / BY ORDER, // TRUE COPY // Senior Private Secretary आयकर अपीलीय अिधकरण, पुणे/ITAT, Pune.