ITO, Sirhind V. Sh. Pawan Kumar Sood, Sirhind

MA 82/CHANDI/2009

• Counselvise Citation: [2011] 123 COUNSELVISE.COM (IT) 6162 (ITAT-CHANDIGARH)
• Duration Of Justice: 1 year(s) 6 month(s) 27 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 11-02-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 28-01-2011
• Assessment Year: 2001-2002
• Appeal Filed On: 15-07-2009
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: JAI SHREE SHARMA
• Keywords: Depreciation

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCHES A CHANDIGARH BEFORE SHRI D.K.SRIVASTAVA, ACCOUNTANT MEMBER AND MS SUSHMA CHOWLA, JUDICIAL MEMBER M.A. NO. 82/CHD/2009 (IN ITA NO. 770/CHD/2008) ASSESSMENT YEAR : 2001-02 THE ITO, VS. SHRI PAWAN KUMAR SOOD, SIRHIND SIRHIND (APPELLANT) (RESPONDENT) APPELLANT BY : SMT.JAISHREE SHARMA RESPONDENT BY: SHRI ARUN KUMAR ORDER PER SUSHMA CHOWLA, JM THE PRESENT MISC. APPLICATION IS FILED BY THE REVEN UE AGAINST THE ORDER OF THE TRIBUNAL DATED 29.4.2009 IN ITA NO. 77 0/CHD/2008 RELATING TO ASSESSMENT YEAR 2001-02. 2. THE GRIEVANCE OF THE REVENUE IS AGAINST THE ALLO WANCE OF BENEFIT OF RS. 4,05,370/-. THE REVENUE VIDE PARAS 2 TO 4 OF T HE MISC. APPLICATION HAS TOUCHED UPON THE FACTUAL ASPECTS OF THE MATTER AND VIDE PARAS 5 TO 8 HAD ALLEGED THAT THE SOURCES OF INVESTMENT MADE TOW ARDS PURCHASE OF ASSET COULD NOT BE EXPLAINED AWAY BY NOTIONAL ALLOWANCE O F DEPRECIATION. THE PLEA OF THE REVENUE VIDE PARA 8 IS THAT THE SAID FA CT OF THE ALLOWANCE OF BENEFIT OF RS. 4,05,370/- ON ACCOUNT OF NOTIONAL DE PRECIATION BE CONSIDERED BY THE TRIBUNAL ON THE MERITS AND THE IS SUE BE ADJUDICATED ACCORDINGLY. 2 3. WE HAVE HEARD THE RIVAL CONTENTIONS OF THE PARTI ES APPEARING BEFORE US. THE POWERS OF THE TRIBUNAL U/S 254(2) OF THE AC T ARE LIMITED TO THE EXTENT OF RECTIFYING ANY MISTAKE APPARENT FROM RECO RD. THE POWER TO REVIEW ITS ORDER PASSED ON THE ISSUE IS NOT AVAILAB LE WITH THE TRIBUNAL.. WE FIND NO MERIT IN THE PRESENT MISC. APPLICATION M OVED BY THE REVENUE WHEREIN ON THE SAME FACTUAL ASPECTS, WHICH WERE CON SIDERED BY THE TRIBUNAL WHILE PASSING ITS ORDER DATED 29.4.2009, T HE ISSUE HAS BEEN REARGUED WITHOUT SPECIFICALLY POINTING OUT ANY APPA RENT MISTAKE IN THE ORDER OF THE TRIBUNAL. THE PRESENT MISC. APPLICATI ON IS THUS NOT MAINTAINABLE AND IS DISMISSED. 4. IN THE RESULT MISC. APPLICATION OF THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 11 TH DAY OF FEBRUARY 2011. SD/- SD/- (D.K.SRIVASTAVA) (SUSHMA CHOW LA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 11 TH FEBRUARY, 2011 RKK COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR 3