AKM ENTERPARISES PRIVATE LIMITED , MUMBAI V. INCOME TAX OFFICER 5(1)(1), MUMBAI

MA 572/MUM/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 7253 (ITAT-MUMBAI)
• Duration Of Justice: 7 month(s) 19 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 23-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2005-2006
• Appeal Filed On: 04-09-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJNEESH YADAV LD
• Assessee Lawyers: DALPAT SHAHLD

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI , , BEFORE SHRI SAKTIJIT DEY, JM AND SHRI MANOJ KUMAR AGGARWAL, AM MISCELLANEOUS APPLICATION NO.572/MUM/2018 [ARISING OUT OF I.T.A. NO.5124/MUM/2014] ( / ASSESSMENT YEAR: 2005-06) M/S. AKM ENT E RPRISES P VT. LTD. 4B, PANHAR, PLOT NO.5, WORLI SEA FACE ABDUL GAFFAR KHAN ROAD MUMBAI-400 025. / VS. INCOME TAX OFFI CER - 5 ( 1 ) (1) AAYKAR BHAVAN, M.K. ROAD MUMBAI-400 020 ./ ./PAN/GIR NO. AACCR-0002-J ( /APPELLANT ) : ( / RESPONDENT ) ASSESSEE BY : SHRI DALPAT SHAH, LD. AR REVENUE BY : SHRI RAJNEESH YADAV, LD. DR !' / DATE OF HEARING : 08/02/2019 #$ !' / DATE OF PRONOUNCEMENT : 23/04/2019 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER): - 1. BY WAY OF THIS MISCELLANEOUS APPLICATION FOR ASS ESSMENT YEAR [AY] 2005-06, THE ASSESSEE SEEKS RECTIFICATION / RECALL OF TRIBUNAL ORDER PASSED IN ITA NO. 5124/MUM/2014 DATED 29/06/2018. 2 2. DRAWING OUR ATTENTION TO THE PETITION, LD. AUTHO RIZED REPRESENTATIVE FOR ASSESSEE [AR], SHRI DALPAT SHAH, SUBMITTED THAT THE DECISIONS RELIED UPON BY THE BENCH WHILE ADJUDICATING THE APPEAL HAS NOT BEEN CITED. FURTHER, THE DECISION RELIED UPON BY THE ASSESSEE O N IDENTICAL FACT OF SHARE TRANSACTIONS THROUGH THE ENTITIES OF MUKESH CHOKSHI GROUP AND AS PLACED IN THE PAPER-BOOK HAS NOT BEEN CONSIDERED WHILE ADJUDICATING THE APPE AL. IT HAS BEEN SUBMITTED THAT ONE OF THE DECISIONS OF THE TRIBUNAL HAS BEEN APPROVED BY HONBLE BOMBAY HIGH COURT AND REVENUES SPECIAL LEAVE PETITION AGAINST THE SAME HAS BEEN DISMISSED BY HONBLE APEX COURT. 3. AFTER CAREFUL CONSIDERATION, THE BENCH CONCUR WI TH ASSESSEES SUBMISSIONS SINCE NON-CONSIDERATION OF BINDING JUDI CIAL PRECEDENT OF HONBLE BOMBAY HIGH COURT WOULD CONSTITUTE MISTAKE APPARENT FROM RECORD. THEREFORE, IN THE INTEREST OF JUSTICE, THE AFORESAI D ORDER STANDS RECALLED. 4. THE REGISTRY IS DIRECTED TO POST THE APPEAL IN R EGULAR HEARING BEFORE REGULAR BENCH AFTER DUE INTIMATION OF DATE OF HEARI NG TO RESPECTIVE PARTIES. 5. THE APPLICATION STANDS ALLOWED IN TERMS OF OUR A BOVE ORDER. ORDER PRONOUNCED IN THE OPEN COURT ON 23 RD APRIL, 2019. SD/- SD/- (SAKTIJIT DEY) (MANOJ KUMAR AGGARWAL) % %% % / JUDICIAL MEMBER % %% % / ACCOUNTANT MEMBER % MUMBAI; DATED : 23/04/2019 SR.PS:-JAISY VARGHESE 3 / COPY OF THE ORDER FORWARDED TO : 1. $%& / THE APPELLANT 2. '(%& / THE RESPONDENT 3. )) ( $ ) / THE CIT(A) 4. )) / CIT CONCERNED 5. *+', , )$, , / DR, ITAT, MUMBAI 6. +./0 / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.