Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, “A” BENCH, MUMBAI
Before: SHRI MAHAVIR SINGH & SHRI RAMIT KOCHAR
Revenue by : Shri. Ram Tiwari Assessee by: Shri. Girish Dave शुद्धि पत्र CORRIGENDUM PER RAMIT KOCHAR, Accountant Member This corrigendum application is filed by the assessee highlighting that at page no. 19 of the common order passed by the tribunal in and 7035/Mum/2013 for A.Y 2004-05 and 2006-07 respectively vide orders dated 19.12.2016 , an error has crept in the said tribunal order for AY 2004-05 and 2006-07, as under :- “We find that the assessee has not come in appeal with respect to the CIT( A) holding against the assessee wherein the assessment order of the AO was confirmed with respect to adjustments of the brought forward depreciation of the eligible unit against current year profits of the eligible unit while computing deduction u/s 10B of the Act, as the learned CIT(A) has held that brought forward depreciation of the eligible unit has to be set off as per the provisions of section 32(2) of the Act as the same becomes current years depreciation while computing the profits from business of profession for the purpose of working out deductions under section 10B of the Act”.
I.T.A. No. 7034 & 7034/Mum/2013 The assessee prayed that an corrigendum application has been made by it to make prayer before the tribunal to correct the said error by deleting the said para in the aforesaid order of the tribunal dated 19.12.2016 as the assessee has filed an appeal for relevant years on being aggrieved by the appellate order of the learned CIT-A for A.Y 2004-05 and 2006-07 , which was already adjudicated by the tribunal in and 7090/Mum/2013 for A.Y 2004-05 and 2006-07 , vide common orders dated 18.06.2014 , which appellate order of the tribunal was duly submitted before the tribunal as the time of original hearing of the appeals in ITA no. 7035 & 7036/Mum/2013 for AY 2004-05 and 2006-07 as well the said order of the tribunal in ITA no. 7089 & 7090 / Mum/2013 for AY 2004-05 and 2006-07 is now again placed on record along with this corrigendum application . 2.The Ld. DR on the other hand fairly submitted that the matter may be decided by the tribunal in accordance with law .
We have considered the corrigendum application dated 26.04.2017 filed by the assessee, material on record along with the appellate order of the tribunal in ITA no. 7034/Mum/2013 and 7035/Mum/2013 dated 19.12.2016 passed by the tribunal for AY 2004-05 and 2006-07 while adjudicating Revenue appeal, where in the appeal filed by the Revenue was dismissed . We have observed that at page no. 19 of the aforesaid tribunals common order dated 19-12-2106, the tribunal while passing the appellate order has commented as under:- “We find that the assessee has not come in appeal with respect to the CIT(A) holding against the assessee wherein the assessment order of the AO was confirmed with respect to adjustments of the brought forward depreciation of the eligible unit against current year profits of the eligible unit while computing deduction u/s 10B of the Act, as the learned CIT(A) has held that brought forward depreciation of the eligible unit has to be set off as per the provisions of section 32(2) of the Act as the same becomes current years depreciation while computing the profits from business of profession for the purpose of working out deductions under section 10B of the Act”. The assessee has placed on record evidences to support that it in-fact contested the issues of adjustment of brought forward depreciation of the eligible unit against current year profits of the eligible unit while computing I.T.A. No. 7034 & 7034/Mum/2013