MAHINDRA & MAHINDRA EMPLOYEES STOCK OPTION TRUST, MUMBAI V. ADDL. CIT RANGE 12(2), MUMBAI

MA 53/MUM/2016

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4568 (ITAT-MUMBAI)
• Duration Of Justice: 3 month(s) 23 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 17-06-2016
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 24-02-2016
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: VINITA MENON
• Assessee Lawyers: H P MAHAJANI

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, MUMBAI BEFORE SHRI JOGINDER SINGH , JUDICIAL MEMBER AND SHRI R. C. SHARMA, ACCOUNTANT MEMBER ./ M. A. NO. 53/MUM/2016 (ARISING OUT OF ITA NO. 2389/M UM/2015) ( / ASSESSMENT YEAR: 2010 - 11 ) MAHINDRA & MAHINDRA EMPLOYEES STOCK OPTION TRUST, GATEWAY BUILDING, APOLLO BUNDER, MUMBAI - 400 001 / VS. ADDL. CIT, RG. - 12(2), PRESENTLY DCIT CIR - 17(2), MUMBAI ./ ./ PAN/GIR N O. AAHFM 9583 B ( APP LICANT ) : ( RESPONDENT ) APPLICANT BY : SHRI H. P. MAHAJANI RESPONDENT BY : SMT. VINITA MENON / DATE OF HEARING : 17.6.2016 / DATE OF PRONOUNCEMENT : 17 .6.2016 / O R D E R PER R. C. SHARMA, A. M.: THIS IS A MISCELLANEOUS APPLICATION AROSE OUT OF ITA NO. 2389/MUM/2015, THE ORDER OF THE TRIBUNAL DATED 21.10.201 5 . 2. THROUGH THIS MISCELLANEOUS APPLICATION , IT WAS POINTED OUT BY THE LD. AR THAT IN PARA 5.18, THE T RIBUNAL HAVE INADVERTE NTLY STATE D THAT THE ASSESSEE HAD SOLD SHARES IN THE SECONDARY MARKET, WHEREAS AS PER THE LD. AR THE ASSESSEE HAS ACTUALLY PURCHASED SHARES IN THE SECONDARY MARKET. 2 M A NO. 53/MUM/2016 (A.Y. 2010 - 11) MAHINDRA & MAHINDRA EMPLOYEES STOCK OPTION TRUST 3. WE HAD CAREFULLY GONE THROUGH THE ORDER OF THE TRIBUNAL AND FOUND THAT THERE IS A TYPOG RAPHICAL MISTAKE IN PARA 5.18. ACCORDINGLY , IN THE FIRST LINE, THE WORD SOLD IS TO BE READ AS PURCHASED . THERE IS NO OTHER MISTAKE WHICH CAN BE RECTIFIED U/S.254(2) OF THE ACT. 4. IN THE RESULT, THE ASSESSEES MISCELLANEOUS APPLICATION IS ALLOWED IN P ART. ORDER PRONOUNCED IN THE OPEN COURT ON J UNE 17 , 201 6 SD/ - SD/ - ( JOGINDER SINGH ) ( R. C. SHARMA ) / JUDICIAL MEMBER / ACCOUNTANT MEMBER / MUMBAI ; / DATED : 17 . 0 6 .201 6 . . ./ ROSHANI , SR. PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. ( ) / THE CIT(A) 4. / CIT - CONCERNED 5. , , / DR, ITAT, MUMBAI 6. / GUARD F ILE / BY ORDER, / (DY./ASSTT. REGISTRAR) , / ITAT, MUMBAI