ANMOL INTERNATIONAL, MUMBAI V. ITO 24(1)(3), MUMBAI

MA 48/MUM/2018

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 6950 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 1 month(s) 7 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 01-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: D
• Assessment Year: 2009-2010
• Appeal Filed On: 25-01-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SATYANARAYANA RAJU
• Assessee Lawyers: S D SHHEFA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL 'A' BENCH, MUMBAI BEFORE SHRI MAHAVIR SINGH, JUDICIAL MEMBER AND SHRI G. MANJUNATHA, ACCOUNTANT MEMBER MA NOS. 48 & 49/MUM/2018 (ARISING OUT OF ITA NOS. 3434 & 3435/MUM/2016) (ASSESSMENT YEARS: 2009-10 & 2010-11) M/S. ANMOL INTERNATIONAL 5, PLOT NO. 2, HARA HIRA PARK KURAR VILLAGE, MALAD (E) MUMBAI 400097 VS. INCOME TAX OFFICER WARD 24(1)(3) MUMBAI PAN AAKFA2518B APPLICANT RESPONDENT APPLICANT BY: SHRI S.D. SHHEFA RESPONDENT BY: SHRI SATYANARAYANA RAJU DATE OF HEARING: 18.01.2019 DATE OF PRONOUNCEMENT: 01.03.2019 O R D E R PER MAHAVIR SINGH, JM BY WAY OF THESE TWO MISCELLANEOUS APPLICATIONS THE ASSESSEE HAS REQUESTED FOR RECALLING OF THE ORDER OF THE TRIBUNA L IN ITA NO. 3434/MUM/2016 FOR A.Y. 2009-10 AND ITA NO. 3435/MUM /2016 FOR A.Y. 2010-11 ORDER DATED 04.08.2017. 2. THE LEARNED COUNSEL FOR THE ASSESSEE BEFORE US POIN TED OUT THAT THE TRIBUNAL HAS WRONGLY MENTIONED THAT THE AO HAS ESTI MATED THE PROFIT RATIO AT 12.5% WHEREAS THE AO HAS APPLIED PROFIT RATIO OF 25%. ACCORDING TO HIM THE CIT(A) HAS RESTRICTED THE PROFIT RATIO AT 25% A ND NOT 12.5% AS NOTED BY THE TRIBUNAL. ACCORDING TO THE LEARNED COUNSEL FOR THE ASSESSEE THE TRIBUNAL HAS WRONGLY ASSUMED THE PROFIT RATIO AND A CCORDINGLY ESTIMATED THE PROFIT RATIO AT 12.5% ON WRONG PREMISES. WHEN T HESE FACTS WERE POINTED THE LEARNED SR. D.R., HE ONLY SUPPORTED THE ORDER O F THE TRIBUNAL. 3. WE HAVE GONE THROUGH THE ORDER OF THE TRIBUNAL AND NOTED THAT THIS MISTAKE HAS CREPT IN THE ORDER OF THE TRIBUNAL. HEN CE, WE RECALL THE ORDER ITA NO. 48/MUM/2018 M/S. ANMOL INTERNATIONAL 2 OF THE TRIBUNAL AND DIRECT THE REGISTRY TO FIX THES E APPEALS IN REGULAR COURSE. 4. IN THE RESULT, THE MISCELLANEOUS APPLICATIONS FILE D BY THE ASSESSEE ARE ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 1 ST MARCH, 2019. S D/ SD/ - (G. MANJUNATHA) (MAHAVIR SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 1 ST MARCH, 2019 COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) -41, MUMBAI 4. THE PR.CIT - 24/30, MUMBAI 5. THE DR, A BENCH, ITAT, MUMBAI BY ORDER //TRUE COPY// ASSISTANT REGISTRAR ITAT, MUMBAI BENCHES, MUMBAI N.P.