Mangalwedha Lokmangal Gramin Bigarsheti Sahakari Patsanstha Maryadit, Solapur V. Principal Commissioner of Income-Tax-4, , Pune

MA 404/PUN/2022

AI Insights

The case involves Mangalwedha Lokmangal Gramin Bigarsheti Sahakari Patsanstha Maryadit, which filed a Miscellaneous Application seeking to recall an earlier order by the Income Tax Appellate Tribunal, Pune. The original order had affirmed the Pr. CIT's decision under section 263, which found the assessee's assessment order for the year 2017-18 to be erroneous and prejudicial to the interest of the Revenue due to inadequate inquiries by the Assessing Officer regarding loans and advances. The Tribunal dismissed the Miscellaneous Application, agreeing with the Pr. CIT's directive for further inquiries by the AO.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 132871 (ITAT-PUNE)
• Duration Of Justice: 3 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-04-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 20-04-2023
• Assessment Year: 2017-2018
• Appeal Filed On: 29-12-2022
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 263

Judgement Text

आयकर अपीलीय अधिकरण “ए” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER धिधिि आिेदन सं. / MA No.404/PUN/2022 (Arising out of ITA No.224/PUN/2022) धनिाारण िर्ा / Assessment Year : 2017-18 Mangalwedha Lokmangal Gramin Bigarsheti Sahakari Patsanstha Maryadit, Damaji Road, Mangalwedha, Solapur – 413305 PAN : AAAAM8769K .......अपीलार्थी / Appellant बनाम / V/s. The Pr. CIT-4, Pune ......प्रत्यर्थी / Respondent Assessee by : N O N E Revenue by : Shri Ganesh B. Budruk सुनवाई की तारीख / Date of Hearing : 21-04-2023 घोषणा की तारीख / Date of Pronouncement : 24-04-2023 आदेश / ORDER PER S.S. VISWANETHRA RAVI, JM : By this Miscellaneous Application the assessee seeks to recall the order dated 14-07-2022 passed by this Tribunal in ITA No.224/PUN/2022 for assessment year 2017-18. 2. A letter dated 20-04-2023 filed seeking adjournment of this appeal by the ld. AR. The ld. DR, Shri Ganesh B. Budruk submits that Miscellaneous Application filed by the assessee is not maintainable for the 2 MA No. 404/PUN/2022, A.Y. 2017-18 reason that the assessee did not point out any mistake apparent on record in the impugned order. He prayed to dismiss the adjournment letter. 3. On perusal of the impugned order dated 14-07-2022, we note that this Tribunal affirmed the order of Pr. CIT u/s. 263 of the Act in holding the assessment order dated 06-12-2019 is erroneous and prejudicial to the interest of Revenue on the ground that no verification/inquiries was conducted by the AO in respect of loans and advances given to the members are taken back or not. We note that the Pr. CIT directed the AO to conduct inquiries in this regard which was affirmed by this Tribunal by way of impugned order. On an examination of Miscellaneous Application, we find no mistake apparent on record was pointed out by the assessee, in our opinion, affirming the order of Pr. CIT is not a mistake apparent on record and therefore, the reasons stated by the assessee in Miscellaneous Application to recall the impugned order are rejected. Since, no mistake apparent on record in the impugned order, the adjournment letter filed by the ld. AR is rejected. Thus, the Miscellaneous Application filed by the assessee fails and it is dismissed. 4. In the result, the Miscellaneous Application filed by the assessee is dismissed. Order pronounced in the open court on 24 th April, 2023. Sd/- Sd/- (Inturi Rama Rao) (S.S. Viswanethra Ravi) ACCOUNTANT MEMBER JUDICIAL MEMBER पुणे / Pune; दिनाांक / Dated : 24 th April, 2023. रदव 3 MA No. 404/PUN/2022, A.Y. 2017-18 आदेश की प्रधिधलधप अग्रेधर्ि / Copy of the Order forwarded to : 1. अपीलार्थी / The Appellant. 2. प्रत्यर्थी / The Respondent. 3. The Pr. CIT-4, Pune 4. The Addl. CIT, Range-1, Solapur 5. दवभागीय प्रदतदनदि, आयकर अपीलीय अदिकरण, “ए” बेंच, पुणे / DR, ITAT, “A” Bench, Pune. 6. गार्ड फ़ाइल / Guard File. //सत्यादपत प्रदत// True Copy// आिेशानुसार / BY ORDER, वररष्ठ दनजी सदचव / Sr. Private Secretary आयकर अपीलीय अदिकरण ,पुणे / ITAT, Pune