ACIT, CHENNAI vs. CARBORUNDUM UNIVERSAL LIMITED, CHENNAI

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ITA 1742/CHNY/2014Status: DisposedITAT Chennai21 May 2024AY 2004-05Bench: SHRI MAHAVIR SINGH, VICE PRESIDENTAND SHRI AMITABH SHUKLA (Accountant Member)2 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal acknowledged the error and corrected the order. The corrected passage states that if the assessee includes income in AY 2008-09, the AO will delete the addition/disallowance in AY 2004-05.

What were the facts?

The assessee's counsel pointed out an error in the Tribunal's previous order regarding the assessment year for an income inclusion. The original order incorrectly stated the AO would add income in AY 2004-05 if included in AY 2008-09.

What were the issues?

Correction of a factual error in a previous Tribunal order regarding the consequential treatment of income inclusion across different assessment years.

AI-generated summary — verify with the full judgment below

PER MAHAVIR SINGH, VICE PRESIDENT:

1.

The ld.counsel for the assessee has intimated us vide letter dated 14.05.2024, that in the Tribunal’s order dated 10.05.2024, in Tribunal in Para 5 at page 7 has wrongly mentioned as ‘In case, the assessee has included this income in assessment year 2008-09, the AO will consequently add this income in assessment year 2004-05’ instead of ‘the AO will consequently delete the addition/disallowance in assessment year 2004-05’.

2.

On perusing the order of the Tribunal dated 10.05.2024, we find the submission of the ld.counsel for the assessee assessee is correct. Accordingly the para 5 at page 7 is hereby corrected and shall be read as follows:- “In case, the assessee has included this income in assessment year 2008-09, the AO will consequently delete the addition / disallowance in assessment year 2004-05.”

It is ordered accordingly.

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