M/s Baljit Securities (P) Ltd., Kolkata v. DCIT(OSD), Cir-8, Kolkata, Kolkata

MA 104/KOL/2016 | 2008-2009
Pronouncement Date: 30-09-2016

Appeal Details

RSA Number 10423524 RSA 2016
Assessee PAN AABCB0779P
Bench Kolkata
Appeal Number MA 104/KOL/2016
Duration Of Justice 2 month(s) 2 day(s)
Appellant M/s Baljit Securities (P) Ltd., Kolkata
Respondent DCIT(OSD), Cir-8, Kolkata, Kolkata
Appeal Type Miscellaneous Application
Pronouncement Date 30-09-2016
Appeal Filed By Assessee
Bench Allotted A
Tribunal Order Date 30-09-2016
Assessment Year 2008-2009
Appeal Filed On 28-07-2016
Judgment Text
INCOME TAX APPELLATE TRIBUNAL A BENCH : KO LKATA BEFORE SHRI P.M. JAGTAP AM & SHRI S.S.VI SWANETHRA RAVI JM M.A . NO. 104/KOL/2016 [IN I.T A NO. 136/KOL/2012 A.Y 2008-09] M/S. BALJIT SECURITIES P.LTD VS. DCIT OSD) CIR- 8 KOLKATA PAN: AABCB 0779P [ APPLICANT ] [ RESPONDENT ] APPLICANT BY : SHRI P.K AGARWAL FCA ADVOCATE LD.AR RESPONDENT BY : SHRI SALLONG Y ADEN ADDL.CIT LD. SR.DR DATE OF HEARING : 16-09-2016 DATE OF PRONOUNCEMENT : 30 -09-2016 ORDER SHRI S.S.VISWANETHRA RAVI JM THIS MISCELLANEOUS PETITION IS FILED BY THE ASSESS EE AGAINST THE IMPUGNED ORDER OF THE TRIBUNAL IN ITA NO.136/KOL/2012 DATE D 18-03-2016 FOR THE ASSESSMENT YEAR 2008-09 AS THERE IS ALLEGEDLY A MIS TAKE APPARENT FROM SUCH ORDER OF THE TRIBUNAL. 2. BY THIS MISC. APPLICATION U/S. 254(1) OF THE ACT THE ASSESSEE WANTS TO RECTIFY/RECALL THE SAID ORDER DATED 18-03-2016 OF THE TRIBUNAL BY ALLOWING THIS MISC. APPLICATION AS THERE WAS MISTAKE APPARENT FRO M SUCH RECORD. 3. SHRI P.K AGARWAL FCA ADVOCATE LEARNED AR R EPRESENTED ON BEHALF OF THE ASSESSEE AND SHRI SALLONG YADEN LEARNED ADD L.CIT/SR.DR REPRESENTED ON BEHALF OF THE REVENUE. M.A NO. 104/KOL/16-A-JM M/S. BALJIT SECURITIES P.LTD 2 4. AT THE TIME OF HEARING IT WAS SUBMITTED BY THE LEARNED AR FOR THE ASSESSEE THAT AT PAGES 3 4 AND 5 PARAS 7 8 9 AND 1 0 OF THE SAID ORDER OF THE TRIBUNAL THERE WAS A MISTAKE APPARENT FROM THE SUC H ORDER PASSED BY THE TRIBUNAL. 4.1 IN PARA 10 THE LD.AR OF THE ASSESSEE SUBMITTED THAT SUCH EXPENSES HAS TO BE TREATED AS INCURRED WHOLLY OR EXCLUSIVELY FOR TH E BETTERMENT OF ASSESSEES OWN BUSINESS. THEREFORE THE EXPENSES INCURRED TOWARDS STUDIES ABROAD OF THE EMPLOYEES CAN BE TREATED DISALLOWED. 4.2 HE FURTHER SUBMITTED THAT THE TRIBUNAL VIDE PARA 9 OF THE IMPUGNED ORDER HAD ALLOWED SUCH EXPENDITURE IN THE AY 2003 -04 IN THE CASE OF ASSESSEE COMPANY. 4.3 VIDE PARA 7 OF THE SAID ORDER THE LD.AR SUBMI TTED THAT ON SAME ISSUE ADDITION WAS DELETED BY THE CIT-A FOR THE AY 2006-0 7 WHICH WAS CONFIRMED BY THE TRIBUNAL BY THIS SAID ORDER. 4.4 IN PARAS 8 9 AND 10 OF THE ORDER THE LD.AR SUB MITTED THAT THE EDUCATION EXPENSES WAS INCURRED BY THE ASSESSEE FOR BETTER ED UCATION OF EMPLOYEE AND SUCH EXPENSE IS TO BE TREATED AS WHOLLY OR EXCLUSIVELY F OR THE BETTERMENT OF ASSESSEES OWN BUSINESS. BUT THE LAST SENTENCE OF PARA 10 HAS BEEN WORDED IN SUCH A FASHION THAT THE EDUCATION EXPENSES INCURRED BY THE ASSESSE E CAN BE DISALLOWED. IT APPEARS THAT THE WORD NOT HAS BEEN OMITTED BY TYP OGRAPHICAL ERROR AFTER THE WORD CAN AND BEFORE THE WORD BE DISALLOWED. FIN ALLY HE SUBMITTED BEFORE US THAT THE MISTAKE APPARENT FROM RECORDS BE RECTIFIE D BY THE BENCH BY ALLOWING THIS MISC. APPLICATION. M.A NO. 104/KOL/16-A-JM M/S. BALJIT SECURITIES P.LTD 3 5. IN REPLY THE LEARNED ADDL.CIT/SR.DR HAS OPPOSE D THE MISC. APPLICATION FILED BY THE ASSESSEE. HE RELIED ON THE IMPUGNED O RDER OF THE TRIBUNAL DATED 18-03-2016. HE FURTHER SUBMITTED THAT THE TRIBUNAL HAS NO POWER TO RECTIFY SUCH MISTAKE AS HAS BEEN CREPT IN THE SAID ORDER OF THE TRIBUNAL 6. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PER USED THE RECORD. WE FIND THAT THERE IS AN APPARENT MISTAKE AS POINTED O UT BY THE ASSESSEE THROUGH ITS MISC. APPLICATION FILED U/S.254(2) OF THE ACT. WE F IND THAT IN PARA 10 OF THE SAID ORDER THERE IS A MISTAKE. THE CORRECTED LAST SENTEN CE OF PARA 10 SHOULD BE READ AS UNDER:- THEREFORE THE EXPENSES INCURRED TOWARDS STUDIES A BROAD OF THE EMPLOYEES CANNOT BE DISALLOWED. IN VIEW OF THE ABOVE THE MISTAKE WHICH HAS BEEN C REPT IN THE IMPUGNED ORDER AS POINTED OUT BY THE ASSESSEE THROUGH ITS MI SC. APPLICATION IS HEREBY RECTIFIED AS ABOVE. 7. IN THE RESULT THE MISC. APPLICATION FILED BY TH E ASSESSEEE STANDS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 30-09-2016 SD/- SD/- P.M. JAGTAP S.S.VISWANETHRA RAVI ACCOUNTANT MEMBER JUDICIAL MEMBER DATED -09-20 16 COPY OF THE ORDER FORWARDED TO: 1 . APPLICANT :M/S. BALJIT SECURITIES PVT. LTD 7A PRETORAI ST KO L-71. 2 RESPONDENT : DCIT/JCIT(OSD) CIR-8 KOLKATA. 3 . CIT 4 . CIT(A) 5 . DR KOLKATA BENCHES KOLKATA **PP/SPS TRUE COPY] BY ORDER ASSTT REGISTRAR