, Smt. Pushpa Gupta, Hyderabad v. ACIT, Circle-6(1), Hyderabad

MA 15/HYD/2012 | misc
Pronouncement Date: 29-02-2012 | Result: Allowed

Appeal Details

RSA Number 1522524 RSA 2012
Assessee PAN AEEPG6161N
Bench Hyderabad
Appeal Number MA 15/HYD/2012
Duration Of Justice 1 month(s) 16 day(s)
Appellant , Smt. Pushpa Gupta, Hyderabad
Respondent ACIT, Circle-6(1), Hyderabad
Appeal Type Miscellaneous Application
Pronouncement Date 29-02-2012
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted B
Tribunal Order Date 29-02-2012
Assessment Year misc
Appeal Filed On 13-01-2012
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH B HYDERABAD BEFORE SHRI CHANDRA POOJARI ACCOUNTANT MEMBER AND SMT. ASHA VIJAYARAGHAVAN JUDICIAL MEMBE R. MISC. APPLICATION NO.15/HYD/2012 ( IN ITA NO.749/HYD/2011) (ASSESSMENT YE AR 2008-09) SMT. PUSHPA GUPTA HYDERABAD (PAN - AAEEPG 6161 N ) V/S ASSTT. COMMISSIONER OF INCOME- TAX CIRCLE-6(1) HYDERABAD (APPLICANT) (RESPONDENT) MISC. APPLICATION NO.16/HYD/2012 ( IN ITA NO.750/HYD/2011) (ASSESSMENT YE AR 2008-09) SHRI ARUN GUPTA HYDERABAD (PAN - ACWPG 9807 B ) V/S ASSTT. COMMISSIONER OF INCOME- TAX CIRCLE-6(1) HYDERABAD (APPLICANT) (RESPONDENT) APPELLANT BY : SHRI K.C.DEVADAS RESPONDENTS BY : SHRI SURESH BATTINI DATE OF HEARING 10.2.2012 DATE OF PRONOUNCEMENT 29.2.2012 O R D E R PER ASHA VIJAYARAGHAVAN JUDICIAL MEMBER BY THESE APPLICATIONS UNDER S.254(2) OF THE ACT THE APPLICANT-ASSESSEES SEEK RECTIFICATION OF THE ORDER OF THIS TRIBUNAL DATED 31.10.2011 INSOFAR AS IT RELATES TO ITA NOS.7 49 AND 750/HYD/2011 FOR THE ASSESSMENT YEAR 2008-09 ON TH E GROUND THAT CERTAIN MISTAKE APPARENT FROM RECORD CREPT INTO THE SAME. MA 15-16/HYD/2012 ( ITA NO.749-750/HYD/2011. SMT. PUSHPA GUTPA AND ANR. HYDERABAD 2 2. THE FIRST MISTAKE WHICH IS POINTED OUT AS HA VING ARISEN IN THE ORDER OF THE TRIBUNAL DATED 31.10.2011 IS ONLY IN THE CONTEXT OF THE ORDER OF THIS TRIBUNAL DATED 31.10.2011 IN ITA NO.749/HYD/2011 IN PARA-38 THEREOF. AFTER EXTRACTING THE RELEVANT PORTION OF PARA 38 OF THE ORDER OF THE TRIBUNAL IN PARA 2.1 OF THE PRESEN T APPLICATION (M.A. NO.15/HYD/2012) THE ASSESSEE BROUGHT OUT IN PARAS 2.2. AND 2.3 OF THE APPLICATION THE MISTAKE IN THE AMOUNT OF ADDIT ION SUSTAINED BY THE TRIBUNAL IN THE FOLLOWING MANNER- 2.2 THE APPELLANT SUBMITS THAT THE TOTAL VALUE OF CLOSING STOCK OF SAREES WITH PRICE TAGS AND WITHOUT PRICE TAGS WAS DISCLOSED AT RS.32 .42 907. PLEASE SEE PAGES 8 14 30 31 AND 97 OF THE PAPER BOOK FILED ON 13.7.2011 2.3 FURTHER THE CIT(A) AT PARA 5-3 ALSO OBSERVED TH AT THE APPELLANT HAD VALUED THE STOCK OF SAREES AS ON THE DATE OF SE ARCH ON 14.12.2007 AT RS.32 42 907/- AS UNDER- DESCRIPTION NO. OF SAREES AMOUNT (RS.) VALUE FIXED BY I.T.A.T. AT PARA NO.38 AS PER PRESENT TABULTATION SAREES WITH PRICE TAG (1511760 - GRP 40% RS.604754) 250 907006 1319160 SAREES WITHOUT PRICE TAGS 618 233590 3261186 TOTAL 868 3242907 4580396 IN THE AUDITED TRADING ACCOUNT FILED FOR THE PERIOD ENDED 14.12.2007 ALONGWITH RETURN OF INCOM E THE VALUE OF CLOSING STOCK WAS DISCLOSED AT RS.32 42 907. PLEASE SEE PAGE 28 OF PAPER-0BOOK II. PLEASE ALSO SEE PAGE 8 OF PAPER BOOK FILED ON 13.07.2011. 2.4 THE VALUE OF SAREES WITH PRICE TAGS WAS CONFIRM ED AT RS.13 19 160/- AT PARAGRAPH 38 OF THE ORDER OF THE TRIBUNAL. THE VALUE OF SAREES WITHOUT PRICE TAGS WAS ADOPTED AT RS.32 61 186. THUS THE TOTAL VALUE OF CLOSING STOCK OF SAREES WAS ADOPTED BY THE TRIBUNAL AT RS.45 80 396. THE VALUE OF STOCK DISCLO SED WAS RS.32 42 907/- AS NOTED BY THE HONBLE TRIBUNAL AT PARAGRAPH 38 OF ITS ORDER. THEREFORE ADDITION SHOULD HAVE BEEN RES TRICTED TO RS.13 37 489 (RS45 80 396-32 42 907). MA 15-16/HYD/2012 ( ITA NO.749-750/HYD/2011. SMT. PUSHPA GUTPA AND ANR. HYDERABAD 3 3. WE HAVE HEARD THE PARTIES AND PERUSED THE MATE RIAL ON RECORD INCLUDING THE ORDER OF THIS TRIBUNAL DATED 31.10.2011 IN THE LIGHT OF THE AVERMENTS MADE BY THE ASSESSEES IN THE PRESENT APPLICATIONS. WE FIND THERE IS A PATENT AND OBVIOU S MISTAKE IN MENTIONING THE FIGURE OF THE ADDITION SUSTAINED AS RS.45 80 396 WHEREAS IT SHOULD HAVE BEEN ONLY THE DIFFERENCE BET WEEN THE VALUE OF CLOSING STOCK DETERMINED BY THE TRIBUNAL OF RS.45 8 0 396 AND THE VALUE OF CLOSING STOCK OF RS.32 42 907 DISCLOSED BY THE A SSESSEE. WE ACCORDINGLY RECTIFY THE SAME AND DIRECT THAT THE AD DITION SUSTAINED BY THE TRIBUNAL ON ACCOUNT OF DIFFERENCE IN THE VALUE OF CLOSING STOCK SHOULD BE TAKEN AS RS.13 45 893 AND NOT RS.45 80 346. TO THIS EXTENT PARA 38 OF THE ORDER OF THIS TRIBUNAL IS RE CTIFIED. 4. THE NEXT MISTAKE POINTED OUT BY THE APPLICANTS COMMONLY IN BOTH THESE APPLICATIONS IS WITH REGARD TO ADDIT ION ON ACCOUNT OF ESTIMATED MARRIAGE EXPENSES IN CONNECTION OF THE M ARRIAGE OF THE DAUGHTER OF THE APPLICANTS. THE MISTAKE POINTED OU T RELATES TO THE ACTUAL AMOUNT OF ADDITION SUSTAINED VIDE PARA 21 O F THE ORDER OF THE TRIBUNAL DATED 31.10.2011. IT IS POINTED OUT THAT THE TRIBUNAL IN PARA 10 HELD THAT THE AMOUNT OF RS.13 45 893 WHICH WAS ADMITTED BY THE APPLICANTS TOWARDS MARRIAGE EXPENSES HAS TO HE GI VEN CREDIT OFF THOUGH WHILE ESTIMATING THE MARRIAGE EXPENSES AT A FIGURE OF RS.30 00 000 AND DETERMINING THE ADDITION TO BE MA DE IN THE HANDS OF EACH OF THESE ASSESSEES CREDIT FOR THE ADMITTED MA RRIAGE EXPENSES OF RS.13 45 893 WAS NOT GIVEN. 5. ON CAREFUL CONSIDERATION OF THE MATTER WE FIND THAT EVEN ON THIS ASPECT OF ADDITION IN RELATION TO ESTIMATED ADDITION ON ACCOUNT OF UNRECORDED MARRIAGE EXPENSES THERE IS MISTAKE A PPARENT FROM RECORD IN THE ORDER OF THE TRIBUNAL AS POINTED OUT BY THE APPLICANTS. MA 15-16/HYD/2012 ( ITA NO.749-750/HYD/2011. SMT. PUSHPA GUTPA AND ANR. HYDERABAD 4 WE ACCORDINGLY RECTIFY THE SAME AND HOLD THAT IF AS NOTED IN PARA 10 OF THE TRIBUNAL ORDER THE ADMITTED MARRIAGE EXPENS ES OF RS.13 45 893 AGAINST THE MARRIAGE EXPENSES OF RS.30 00 000 ESTIM ATED VIDE PARA 21 OF THE TRIBUNALS ORDER THE BALANCE ADDITION TO BE SUSTAINED IN THE HANDS OF THESE TWO ASSESSEES WOULD ONLY BE RS.16 5 4 107 WE ACCORDINGLY DIRECT THE ADDITION TO BE SUSTAINED IN THE HANDS OF EACH OF THESE ASSESSEES TO BE TAKEN AT RS.8 27 053 INSTEAD OF RS.15 00 000 NOTED IN PARA 21 OF THE ORDER OF THE TRIBUNAL DATED 31.10.2011. 6. IN THE RESULT BOTH THE MISCELLANEOUS APPLICATI ONS OF THE ASSESSEES ARE ALLOWED. ORDER PRONOUNCED IN THE COURT ON 29.2.2012 SD/- SD/- (CHANDRA POOJARI) (ASHA VIJAYARAGHAVAN) ACCOUNTANT MEMBER. JUDICIAL MEMBER. DT/- 29 FEBRUARY 2012 COPY FORWARDED TO: 1. SHRI ARUN GUTPA H.NO.A - 108 JOURNALIST COLONY JUBILEE HILLS HYDERABAD. 2. 3. SMT. PUSHPA GUTPA H.NO.A-108 JOURNALIST COLONY J UBILEE HILLS HYDERABAD. ASST COMMISSIONER OF INCOME-TAX CIRCLE-6(1) HYD ERABAD 4. COMMISSIONER OF INCOME - TAX(APPEALS) IV HYDERABAD 5. COMMISSIONER OF INCOME-TAX III HYDERABAD 6. DEPARTMENTAL REPRESENTATIVE ITAT HYDERABAD B.V.S.