INDUSIND BNAK LTD, V. ACIT RG 2(3),

MA 387/MUM/2011

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 7257 (ITAT-MUMBAI)
• Duration Of Justice: 3 month(s) 30 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 11-11-2011
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: I
• Assessment Year: 2004-2005
• Appeal Filed On: 12-07-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: D S MAINKAR

Judgement Text

1 INDUSIND BANK LTD IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI I BENCH MUMBAI BENCHES, MUMBAI BEFORE SHRI T R SOOD , AM & SHRI VIJAY PAL RAO, J M MA NO. 387/MUM/2011 ARISING OUT OF ITA NO. 2464/MUM/2009 (ASST YEAR 2004-05) INDUSIND BANK LTD SOLITAIRE CORPORATE PARK 167 GURU HARGOVINDJI MARG MUMBAI 93 VS THE ASST COMMR OF INCOME TAX RANGE 2(3), MUMBAI (APPLICANT) (RESPONDENT) PAN NO. AAAC11314G ASSESSEE BY SHRI D S MAINKAR REVENUE BY SH A K NAYAK DT.OF HEARING 11.11.2011 DT OF PRONOUNCEMENT 11 TH NOV 2011 PER VIJAY PAL RAO, JM THIS MISCELLANEOUS APPLICATION BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 29 TH APRIL 2011 OF THIS TRIBUNAL WHEREBY THE APPEAL OF THE ASSESSEE IN ITA 2464/MUM/2009 FOR AY 2004-05 WAS DISPOSED OFF. 2 WE HAVE HEARD THE PARTIES AND CONSIDERED THE RELE VANT MATERIAL ON RECORD. 3 AFTER CONSIDERING THE CONTENTS OF THE MISCELLANEO US APPLICATION, WE FIND THAT INADVERTENTLY, THE GROUND NO. 3 RAISED BY THE ASSES SEE IN THE APPEAL REGARDING ALLOWABILITY OF LOSS ON UNMATURED FORWARD EXCHANGE CONTRACTS HAS NOT BEEN ADJUDICATED BY THE TRIBUNAL. THIS MISTAKE WAS APPA RENT ON RECORD; THEREFORE, WE RECALL THE ORDER OF THE TRIBUNAL FOR LIMITED PURPOS E FOR ADJUDICATION OF THE GROUND NO.3 RAISED BY THE ASSESSEE IN ITS APPEAL. 2 INDUSIND BANK LTD 3 THE REGISTRY IS DIRECTED TO FIX THE APPEAL FOR HE ARING FOR LIMITED PURPOSE FOR ADJUDICATION OF GROUND NO.3 4 IN THE RESULT, THE MISCELLANEOUS APPLICATION FILE D BY THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING I.E.11 TH NOV 2011 I. SD/ SD/ ( T R SOOD ) ACCOUNTANT MEMBER ( VIJAY PAL RAO ) JUDICIAL MEMBER PLACE: MUMBAI : DATED: 11 TH , NOV 2011 RAJ* COPY FORWARDED TO: 1 APPELLANT 2 RESPONDENT 3 CIT 4 CIT(A) 5 DR /TRUE COPY/ BY ORDER DY /AR, ITAT, MUMBAI