DCIT, MUMBAI vs. THE LAKSHMI VILAS BANK LIMITED, KARUR

ITA 6716/MUM/2024Status: DisposedITAT Chennai04 June 2025AY 2009-10Bench: SHRI ABY T. VARKEY (Judicial Member), SHRI MANOJ KUMAR AGGARWAL (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal noted that the CIT(A) had correctly deleted multiple additions made by the AO, relying on various judicial precedents, including decisions in the assessee's own case. The AO's action of reiterating these additions in a rectification order was found to be based on a misinterpretation of the CIT(A)'s earlier order.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order, which had deleted additions made by the AO. The AO had initially framed an assessment, which was partly allowed by the CIT(A). Subsequently, the AO passed an order giving effect to the CIT(A)'s order, but later rectified it under Section 154, reiterating the additions. The present CIT(A) order examined the AO's Section 154 action and found it erroneous.

What were the issues?

Whether the AO's rectification order under Section 154, which reiterated additions already deleted by the CIT(A), was erroneous due to misinterpretation of the earlier appellate order. Whether the deletions made by the CIT(A) based on judicial precedents were justified.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 115JB,Section 154,Section 250,Section 36(1)(vii)

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Income Tax Appellate Tribunal, ‘B’ BENCH: CHENNAI

Before: SHRI ABY T. VARKEY & SHRI MANOJ KUMAR AGGARWAL

Hearing: 01.05.2025Pronounced: 04.06.2025

PER ABY T. VARKEY, JM: This is an appeal preferred by the Revenue against the order of the Learned Commissioner of Income Tax (Appeals)/NFAC, (hereinafter

referred to as “the Ld.CIT(A)”), Delhi, dated 01.07.2023 for the Assessment Year (hereinafter referred to as "AY”) 2009-10. 2. At the outset, it is noted that there is a delay of ‘474’ days in filing

of this appeal. After going through the application for condonation filed by the DCIT, Circle-2(3)-1, Mumbai, we f

The order continues below.

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