Nexus Electro Steel Ltd., CHENNAI V. ACIT, CHENNAI

MA 63/CHNY/2014

• Counselvise Citation: [2014] 124 COUNSELVISE.COM (IT) 1804 (ITAT-CHENNAI)
• Duration Of Justice: 1 month(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 02-05-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 01-04-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : CHENNAI . . . , . . !' , # '$ % [BEFORE DR. O.K. NARAYANAN, VICE-PRESIDENT AND SHRI S. S. GODARA, JUDICIAL MEMBER] M.P.NO.63/MDS/2014 IN ./ I.T.A.NO.1420/MDS/2013 / ASSESSMENT YEAR : 2008-09 THE ASSTT. COMMISSIONER OF INCOME-TAX COMPANY CIRCLE IV(4) CHENNAI VS. M/S NEXUS ELECTRO STEEL LTD. 202, SHIVALAYA, BLOCK C 16, ETHIRAJ SALAI CHENNAI [PAN AABCN 4224H] ( APPELLANT ) (RESPONDENT/PETITIONER) APPELLANT BY : SHRI GURU BASHYAM, JCIT RESPONDENT/PETITIONER BY : SHRI B. RAMAKRISHNAN, FCA / DATE OF HEARING : 02-05-2014 / DATE OF PRONOUNCEMENT : 02-05-2014 '- / O R D E R PER S.S.GODARA, JUDICIAL MEMBER THIS ASSESSEES PETITION U/S 254(2) OF THE IN COME-TAX ACT, 1961 (IN SHORT THE ACT) HAS BEEN FILED TO RECALL T HE EX-PARTE ORDER M.P.NO.63/14 :- 2 -: DATED 9.12.2013 IN REVENUES APPEAL RESTORING THE IMPUGNED ADDITION OF ` 32,92,043/- MADE BY THE ASSESSING OFFICER 2. IN THE COURSE OF HEARING, THE ASSESSEE REFERS TO C ONTENTS OF THE INSTANT MISCELLANEOUS PETITION TO SUBMIT THAT T HE CIT(A) HAD DELETED THE DISALLOWANCE AFTER FOLLOWING CASE LAW CIT VS RANE LTD 293 ITR 459(MAD) AND THE SAME HAS NOWHERE BEEN REFERRED TO IN THE 'TRIBUNAL'S ORDER. IN ADDITION TO THIS, IT REFERS TO RULE 25 (PROVISO) OF THE INCOME TAX (APPELLATE TRIBUNAL) RULES 1963, AND PRAYS FOR ACCEPTANCE OF THE PETITION. 3. THE REVENUE STRONGLY SUPPORTS THE 'TRIBUNAL'S ORDE R. 4. WE HAVE HEARD BOTH PARTIES AND PERUSED THE CASE FIL E. IT IS EVIDENT TO US THAT THE CIT(A) HAD DELETED THE IMPUG NED DISALLOWANCE OF PRE-OPERATIVE EXPENDITURE BY FOLLOWING CASE LAW OF HON'BLE JURISDICTIONAL HIGH COURT (SUPRA). IN THE 'TRIBUNA L' S ORDER, THE SAME HAS NOWHERE BEEN REFERRED TO WHILE ACCEPTING THE REVENU ES CONTENTIONS. SIMILARLY, IT IS TO BE SEEN FROM THE PLEADINGS IN T HE PETITION THAT ASSESSEES AUTHORIZED REPRESENTATIVE WAS HELD UP WI TH HIS PRIOR PROFESSIONAL COMMITMENTS. KEEPING IN MIND THESE CI RCUMSTANCES AND IN THE INTEREST OF JUSTICE, WE RECALL OUR ORDER DAT ED 9.12.2013 AND M.P.NO.63/14 :- 3 -: RESTORE THE APPEAL TO ITS ORIGINAL NUMBER. NOW THE SAME SHALL COME UP FOR HEARING ON 21.7.2014. 5. THE MISCELLANEOUS PETITION FILED BY THE ASSESSEE I S ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING ON FRIDAY, THE 2 ND OF MAY, 2014, AT CHENNAI SD/- SD/- ( . . . ) (DR. O.K. NARAYANAN) / VICE-PRESIDENT ( . . !' ) (S. S. GODARA) ! / JUDICIAL MEMBER '# / CHENNAI $ / DATED: 02 ND MAY, 2014 RD #% & '( )#( / COPY TO: 1 . *+ / APPELLANT 2. &,*+ / RESPONDENT 3. - () / CIT(A) 4. - / CIT 5. (01 & 2 / DR 6. 13 4 / GF