ITO, Mandya V. M/s Srinidhi Gold, Mandya

MA 45/BANG/2010

• Counselvise Citation: [2010] 123 COUNSELVISE.COM (IT) 5135 (ITAT-BANGALORE)
• Duration Of Justice: 8 month(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 30-11-2010
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 20-02-2015
• Assessment Year: 2006-2007
• Appeal Filed On: 30-03-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: PRABHAKAR REDDY J
• Assessee Lawyers: S VENKATESAN

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K., JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER M.P. NO.45/BANG/2010 (ARISING OUT OF ITA NO.464/BANG/09) ASSESSMENT YEAR : 2006-07 THE INCOME TAX OFFICER, WARD 1, MANDYA. : APPLICANT VS. M/S. SRINIDHI GOLD, V.V. ROAD, MANDYA. : RESPONDENT APPLICANT BY : SHRI PRABHAKAR REDDY, JCIT(DR) RESPONDENT BY : SHRI S. VENKATESAN, C.A. O R D E R PER A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER THIS MISCELLANEOUS PETITION IS FILED BY THE REVEN UE SEEKING RECALL OF THE ORDER OF THE TRIBUNAL DATED 24.09.2009. 2. THE LD. DR SUBMITTED THAT THERE IS PRIMA FACIE E RROR IN THE ORDER OF THE TRIBUNAL IN ARRIVING THE VALUE OF THE CLOSING S TOCK OF GOLD JEWELLERY AND THE TRIBUNAL HAS ERRED IN ADOPTING THE VALUATION OF CLOSING STOCK, WHEN THE ASSESSEE HAS NOT CONTESTED THE VALUATION BEFORE THE ASSESSING OFFICER. M.P. NO.45/BANG/10 PAGE 2 OF 2 3. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL ON RECORD. IT APPEARS THERE IS A MISTAKE APPARENT ON THE RECORD IN THE ORDER OF THE TRIBUNAL. WE THEREFORE RECALL THE ORDER OF TH E TRIBUNAL DATED 24.09.2009 AND DIRECT THE REGISTRY TO POST THE APPE AL FOR HEARING IN THE NORMAL COURSE. 4. IN THE RESULT, THE MISCELLANEOUS PETITION BY THE REVENUE IS ALLOWED. PRONOUNCED IN THE OPEN COURT ON THIS 30 TH DAY OF NOVEMBER, 2010. SD/- SD/- ( GEORGE GEORGE K.) (A. MOHAN ALANKAMONY ) JUDICIAL MEMBER ACCOUNTANT MEMBER BANGALORE, DATED, THE 30 TH NOVEMBER, 2010. DS/- COPY TO: BY ORDER ASSISTANT REGISTRAR ITAT, BANGALORE. 1. APPLICANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE