Somayajulu & Co. Ltd., CHENNAI V. ACIT, CHENNAI

MA 76/CHNY/2017

• Counselvise Citation: [2017] 124 COUNSELVISE.COM (IT) 5854 (ITAT-CHENNAI)
• Duration Of Justice: 7 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 19-10-2017
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 30-06-2017
• Assessment Year: 2010-2011
• Appeal Filed On: 28-02-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S VIJAYAPRABHA
• Assessee Lawyers: N VIJAY KUMAR
• Keywords: Depreciation; Unabsorbed depreciation

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, CHENNAI ... , . !'# ! ,% !& BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER '' / M.P. NO.76/MDS/2017 (IN I.T.A. NO.1115/MDS/2015) ( )( / ASSESSMENT YEAR : 2010-11 M/S SOMAYAJULU & CO. LTD., II FLOOR, MOOKAMBIKA COMPLEX, 4-LADY DESIKACHARY ROAD, MYLAPORE, CHENNAI - 600 004. PAN : AAACS 7053 G V. THE ASSISTANT COMMISSIONER OF INCOME TAX, COMPANY CIRCLE VI(3), CHENNAI. (+,( /PETITIONER) (+-,./ RESPONDENT) +,( 0 1 /PETITIONER BY : SHRI N. VIJAY KUMAR, CA +-,. 0 1 / RESPONDENT BY : MS. S. VIJAYAPRABHA, JCIT 2 0 3% / DATE OF HEARING : 13.10.2017 4') 0 3% / DATE OF PRONOUNCEMENT : 19.10.2017 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: THE ASSESSEE HAS FILED THE PRESENT MISCELLANEOUS PETITION ON THE GROUND THAT THERE IS AN ERROR IN THE ORDER O F THIS TRIBUNAL DATED 7 TH OCTOBER, 2016. 2. SHRI N. VIJAY KUMAR, THE LD. REPRESENTATIVE FOR THE ASSESSEE, SUBMITTED THAT THIS TRIBUNAL BY AN ORDER DATED 7 TH OCTOBER, 2016, 2 M.P. NO.76/MDS/17 FOUND THAT THE ASSESSEE HAS NOT FURNISHED THE DETAI LS WITH REGARD TO UNABSORBED BUSINESS LOSS AND UNABSORBED DEPRECIATIO N. THIS TRIBUNAL HAS FOUND THAT THE ISSUE WAS NOT PRESSED B EFORE THE CIT(APPEALS). REFERRING TO THE AFFIDAVIT SAID TO B E FILED BY THE ASSESSEE, WHICH IS AVAILABLE AT PAGE 48 OF THE PAPE R-BOOK, THE LD. REPRESENTATIVE SUBMITTED THAT THE ASSESSEE CLARIFIE D THAT ITS REPRESENTATIVE HAS NOT MADE ANY STATEMENT NOT PRESS ING THE ISSUE RAISED BEFORE THE CIT(APPEALS). THEREFORE, ACCORDI NG TO THE LD. REPRESENTATIVE, THE STATEMENT RECORDED BY THE CIT(A PPEALS) IS CONTRARY TO THE FACTS. MOREOVER, THE DETAILS OF UN ABSORBED LOSS AND UNABSORBED DEPRECIATION WERE ALSO FILED BEFORE THE CIT(APPEALS). 3. WE HAVE HEARD MS. S. VIJAYAPRABHA, THE LD. DEPAR TMENTAL REPRESENTATIVE ALSO. THE DETAILS OF UNABSORBED DEP RECIATION AND UNABSORBED BUSINESS LOSS WERE NOT AVAILABLE BEFORE THIS TRIBUNAL. EVEN THOUGH THE CIT(APPEALS) OBSERVED IN ITS ORDER THAT THE ASSESSEES REPRESENTATIVE HAS NOT PRESSED THIS GROU ND, IT APPEARS THE ASSESSEE FILED AN AFFIDAVIT IN THE PAPER-BOOK C LAIMING THAT ITS REPRESENTATIVE HAS NOT MADE ANY STATEMENT NOT PRESS ING THE ISSUE. THIS AFFIDAVIT, WHICH IS AVAILABLE IN THE PAPER-BOO K, WAS NOT BROUGHT TO THE NOTICE OF THE BENCH AT THE TIME OF HEARING O F THE APPEAL. THEREFORE, THIS TRIBUNAL IS OF THE CONSIDERED OPINI ON THAT AT THIS 3 M.P. NO.76/MDS/17 STAGE IT CANNOT BE SAID THERE IS AN ERROR IN THE OR DER OF THIS TRIBUNAL. SECTION 254(2) OF THE INCOME-TAX ACT, 1961 (IN SHOR T 'THE ACT') ENABLES THIS TRIBUNAL TO RECTIFY AN ERROR WHICH IS PRIMA FACIE ON RECORD. SINCE THE DETAILS OF UNABSORBED LOSS AND U NABSORBED DEPRECIATION ARE NOT AVAILABLE, THIS TRIBUNAL FINDS NO ERROR MUCH LESS PRIMA FACIE ERROR IN THE ORDER OF THIS TRIBUNAL DATED 7 TH OCTOBER, 2016. 4. IN THE RESULT, THIS MISCELLANEOUS PETITION FILED BY THE ASSESSEE STANDS DISMISSED. ORDER PRONOUNCED COURT ON 19 TH OCTOBER, 2017 AT CHENNAI. SD/- SD/- (. !'# ! ) ( ... ) (A. MOHAN ALANKAMONY) (N.R.S. GANESAN) % / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 6 /DATED, THE 19 TH OCTOBER, 2017. KRI. 0 +37' 8')3 /COPY TO: 1. +,( / PETITIONER 2. +-,. /RESPONDENT 3. 2 93 () /CIT(A) 4. 2 93 /CIT 5. ': +3 /DR 6. ;( < /GF.