DCIT, Muzaffarnagar v. Shri Saurabh Swarup, Muzaffarnagar

MA 459/DEL/2010 | 2005-2006
Pronouncement Date: 25-02-2011 | Result: Dismissed

Appeal Details

RSA Number 45920124 RSA 2010
Assessee PAN AIDPS5087N
Bench Delhi
Appeal Number MA 459/DEL/2010
Duration Of Justice 5 month(s) 29 day(s)
Appellant DCIT, Muzaffarnagar
Respondent Shri Saurabh Swarup, Muzaffarnagar
Appeal Type Miscellaneous Application
Pronouncement Date 25-02-2011
Appeal Filed By Department
Order Result Dismissed
Bench Allotted G
Tribunal Order Date 25-02-2011
Assessment Year 2005-2006
Appeal Filed On 27-08-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL [ DELHI BENCH G DELHI ] BEFORE SHRI R. P. TOLANI JM & SHRI K. D. R ANJAN AM MISC. APP. NO. 459 (DEL) OF 2010 [ IN I. T. APPEAL NO. 2026 (DEL) OF 2009 ]. ASSESSMENT YEAR : 2005-06. DY. COMMISSIONER OF INCOME-TAX SHRI SAURABH S WARUP C I R C L E : 1 VS. S/O. SHRI CHITRANJAN SWARUP MUZAFFAR NAGAR. 197 NORTH CIVIL LINES MUZAFFAR NAGAR. PAN / GIR NO. AID PS 5087 N. ( APPLICANT ) ( RESPONDENT ) ASSESSEE BY : SHRI S. K. TANDON ADV.; DEPARTMENT BY : SHRI PIYUSH SONKAR SR. D.R.; O R D E R. PER K. D. RANJAN AM : THIS MISC. APPLICATION BY THE REVENUE FOR ASSESSME NT YEAR 2005-06 HAS BEEN FILED AGAINST THE ORDER DATED 08TH JANUARY 2010 PASSED BY THE IT AT DELHI BENCH G NEW DELHI. 2. IN THE MISC. APPLICATION IT HAS BEEN SUBMITTED T HAT THE ITAT HAD DISMISSED THE REVENUES APPEAL IN RESPECT OF BOTH THE GROUNDS. THE FIRST G ROUND RELATED TO DELETING THE ADDITION OF RS.11 77 000/- AS INCOME FROM OTHER SOURCES AND THE SECOND GROUND RELATED TO DELETING THE ADDITION OF RS.29 655/- AS PROFIT EARNED FROM M/S. SHAMBHU DAYAL VINOD KUMAR. ITAT IN RESPECT OF THE FIRST ISSUE HAS TREATED THE PROFIT E ARNED ON SALE OF SHARES AS LONG TERM CAPITAL GAINS WHEREAS IN THE CASE OF SMT. ANITA BANSAL DAUGHTER OF SHRI ARVIND GOYAL FOR ASSESSMENT YEAR 2005-06 ITAT DELHI BENCH D IN ITA. NO. 2025 (DEL ) OF 2009 DATED 26 TH FEBRUARY 2010 HAS 2 MISC. APP. NO. 459 (DEL) OF 2010 REVERSED THE ORDER OF THE LD. CIT (APPEALS) ON IDEN TICAL FACTS AND HAS HELD THAT THE SALE PROCEEDS OF THE SHARES WAS TO BE ASSESSED AS UN-EXPLAINED IN COME OF THE ASSESSEE. SINCE ON IDENTICAL FACTS THE DECISION OF THE TRIBUNAL IN DIFFERENT IN TWO DI FFERENT CASES THEREFORE THERE IS A MISTAKE APPARENT FROM RECORD AND THE ORDER PASSED BY THE TR IBUNAL IN ASSESSEES CASE DATED 8 TH JANUARY 2010 IS TO BE RECTIFIED. ON THE OTHER HAND THE LD . AR OF THE ASSESSEE SUPPORTED THE ORDER OF THE TRIBUNAL. 3. WE HAVE HEARD BOTH THE PARTIES. IN THE CASE OF THE ASSESSEE THE ITAT DELHI BENCH G HAS RENDERED DECISION ON 8/01/2010 BASED ON THE FAC TS AND THE ARGUMENTS ADVANCED AT THE TIME OF HEARING. SUBSEQUENT DECISION IN THE CASE OF ANITA BANSAL RENDERED BY ITAT DELHI BENCH D ON 26 TH FEBRUARY 2010 CANNOT BE TREATED AS A MISTAKE APPA RENT FROM RECORD. TWO BENCHES HAVE TAKEN TWO DIFFERENT VIEWS ON IDENTICAL FACTS. THE D ECISION RENDERED EARLIER TO DECISION IN THE CASE OF MS ANITA BANSAL CANNOT FORM BASIS OF RECTIFICATI ON U/S 254(2) OF THE ACT. IT MAY BE A CASE OF MISTAKE OF LAW BUT DEFINITELY IT WOULD NOT FALL UN DER SECTION 254(2) OF THE ACT. THEREFORE THE CONTENTION OF THE REVENUE THAT THE ORDER PASSED ON 8 TH JANUARY 2010 IS TO BE RECTIFIED IN VIEW OF THE SUBSEQUENT DECISION RENDERED BY THE TRIBUNAL ON 26 TH FEBRUARY 2010. IF THE REVENUE WAS NOT SATISFIED WITH THE ORDER OF THE TRIBUNAL THEY COULD HAVE GONE IN APPEAL BEFORE THE HONBLE HIGH COURT. SINCE THERE IS NO MISTAKE APPARENT FRO M RECORD THE MISC. APPLICATION FILED BY THE REVENUE IS DISMISSED. 4. IN THE RESULT THE MISC. APPLICATION FILED BY TH E REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON : 25 TH FEBRUARY 2011. SD/- SD/-. [ R. P. TOLANI ] [ K. D. RANJAN ] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 25 TH FEBRUARY 2011 *MEHTA * COPY OF THE ORDER FORWARDED TO : - 1. APPLICANT. 3 MISC. APP. NO. 459 (DEL) OF 2010 2. RESPONDENT. 3. CIT 4. CIT (APPEALS) 5. DR ITAT NEW DELHI. TRUE COPY. BY ORDER. ASSISTANT REGI STRAR ITAT. 4 MISC. APP. NO. 459 (DEL) OF 2010