The Fazilka Central Coop. Bank Ltd., Abohar V. The ACIT, Bathinda

MA 92/ASR/2013

• Counselvise Citation: [2014] 124 COUNSELVISE.COM (IT) 1789 (ITAT-AMRITSAR)
• Duration Of Justice: 7 month(s) 20 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 13-05-2014
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB
• Next Hearing Date: 09-05-2014
• Assessment Year: 2007-2008
• Appeal Filed On: 23-09-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: TARSEM LALD R

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR. BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SH. B.P.JAIN, ACCOUNTANT MEMBER M.A.NO. 92(ASR)/2013 (ARISING OUT OF I.T.A. NO.299(ASR)/2013) ASSESSMENT YEAR:2007-08 PAN :AAABT2344Q THE FAZILKA CENTRAL CO-OP. BANK LTD. VS. DY. COMMR. OF INCOME TAX, H.O. ABOHAR. CIRCLE-II, BATHINDA. (APPELLANT) (RESPONDENT) APPELLANT BY:SH.SUDHIR SEHGAL RESPONDENT BY:SH.TARSEM LAL,DR DATE OF HEARING: 09/05/2014 DATE OF PRONOUNCEMENT:13/05/2014 ORDER PER BENCH ; THIS MISCELLANEOUS APPLICATION OF THE ASSESSEE AR ISES FROM OUR ORDER PASSED IN ITA NO.299(AR)/2013 DATED 26.08.2013. THE ASSESSEE HAS FILED THE MISC. APPLICATION, WHICH FOR THE SAKE OF CONVENIENC E, IS REPRODUCED AS UNDER: THAT IT IS VERY HUMBLY SUBMITTED THAT IN THE SAID CASE, WE HAVE FILED AN APPEAL BEFORE THE HONBLE BENCH BEARING ITA NO.2 99/ASR/2013 FOR THE ASSESSMENT YEAR 2007-08. 2. THAT THE ABOVE SAID CASE WAS DECIDED BY YOUR KIND HONOUR VIDE ORDER, DATED 26.08.2013, WHEREIN THE APPEAL OF THE ASSESSEE HAS BEEN ALLOWED. MA NO.92(ASR)/2013 2 3. THAT IN THE ABOVE SAID CASE, THERE WERE TWO GROUNDS OF APPEAL, ONE WITH REGARD TO THE UPHOLDING THE ADDITION BY CI T(A) TO THE TUNE OF RS.29.73,044/- ( I.E. RS.22,03,792 + RS.7,6 9,252/- AND THE 2 ND GROUND OF APPEAL IS WITH REGARD TO THE ADDITION O F RS.1,61,572/- ON ACCOUNT OF ALLEGATION OF LESSER IN TEREST DISCLOSED. 4. THAT THE HONBLE BENCH AFTER DETAILED DISCUSSION HA S GIVEN A FINDING ON THE FIRST ISSUE IN PARA 6 PAGE 16 OF THE ORDER AS UNDER: IN THE FACTS AND CIRCUMSTANCES OF THE PRESENT CASE AND OUR FINDINGS HEREINABOVE, WE REVERSE THE ORDER OF LD. CIT(A) AND DIRECT THE A.O. TO ALLOW THE CLAIM OF THE ASSESSEE WITH RESPECT TO GRATUITY PAID AMOUNTING TO RS.22,03,792/-. ACCORDIN GLY, GROUNDS 1A & 1B OF THE ASSESSEE ARE ALLOWED. 5. THAT THOUGH, IT HAS BEEN STATED BY THE HONBLE BENC H THAT GROUND IA AND IB WHICH HAS BEEN REPRODUCED AT PAGE 1 & 2 OF THE ORDER ARE ALLOWED, BUT THE FIGURE OF GRATUITY P AID AT RS.22,03,792/- SHOULD HAVE BEEN AT RS.29,73,044/-. 6. THAT THE HONBLE BENCH IN PARA 12 AT PAGE 20 HAS BEEN HELD AS UNDER: IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IN ITA NO.299(ASR)2013 IS ALLOWED. 7. THAT FROM THE ABOVE SAID FACTS, IT IS, THEREFORE , VERY CLEAR THAT THERE HAS BEEN TYPOGRAPHICAL ERROR OF MENTIONING TH E FIGURE AT RS.22,03,792/- INSTEAD OF RS.29,73,044/- I.E. (RS.2 2,03,792 + RS.7,69,7552/-). 8. THE ABOVE MISTAKE BEING APPARENT FROM THE RECORD MAY PLEASE BE RECTIFIED BY PASSING A SUITABLE ORDER AND OBLIGE . 2. THE LD. COUNSEL FOR THE ASSESSEE, MR. SUDHIR SEH GAL, READ THE MISC. APPLICATION AND INVITED OUR ATTENTION TO THE RELEVA NT PARA IN OUR ORDER DATED 26.08.2013 REGARDING THE MISTAKE APPARENT FROM RECO RD. 3. THE LD. DR, ON THE OTHER HAND, DID NOT OPPOSE TH E MISC. APPLICATION AND EVEN DID NOT RAISE ANY OBJECTION TO THE SAID MI STAKE. MA NO.92(ASR)/2013 3 4. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE FACTS OF THE CASE. THERE IS A MISTAKE APPARENT FROM RECORD AND IT IS A TYPOGRAPHICAL MISTAKE WHERE THE AMOUNT OF RS.29,73,044/- WAS WRONGLY MENT IONED AS RS.22,03,792/- IN PARA 6 AT PAGE 16 OF OUR ORDER DA TED 26.08.2013. THIS MISTAKE IS APPARENT FROM RECORD AND AFTER RECTIFICA TION THE SAID PARA 6 AT PAGE 16 OF OUR ORDER DATED 26.08.2013 SHALL BE REA D AS UNDER: 6. IN THE FACTS AND CIRCUMSTANCES OF THE PRESENT C ASE AND OUR FINDINGS HEREINABOVE, WE REVERSE THE ORDER OF LD. CIT(A) AND DIRECT THE A.O. TO ALLOW THE CLAIM OF THE ASSES SEE WITH RESPECT TO GRATUITY PAID AMOUNTING TO RS.29,73,044/ -. ACCORDINGLY, GROUNDS 1A & 1B OF THE ASSESSEE ARE AL LOWED. IN VIEW OF THE ABOVE, THE MISC. APPLICATION OF THE ASSESSEE IS ALLOWED. 5. IN THE RESULT, THE M.A.NO.92(ASR)/2013 OF THE AS SESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 13TH MAY, 2014. SD/- SD/- (H.S. SIDHU) (B.P. JAIN) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 13TH MAY, 2014 /SKR/ COPY OF THE ORDER FORWARDED TO: 1. THE ASSESSEE:M/S. THE FAZILKA CENTRAL CO-OP. BANK L TD. 2. THE DCIT, CIRCLE II, BATHINDA. 3. THE CIT(A), BATHINDA 4. THE CIT, BATHINDA. 5. THE SR DR, ITAT, AMRITSAR. TRUE COPY BY ORDER (ASSISTANT REGISTRAR) INCOME TAX APPELLATE TRIBUNAL, AMRITSAR BENCH: AMRITSAR