Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2016 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (1) TMI 808 - AT - Income TaxDeduction under section 80-IA - rectification of mistake - Held that:- The claim of the assessee for deduction under section 80IC was disallowed by him, inter alia, on the basis of condition laid down in section 80AB and a finding was recorded by him in this context that the said condition was not fulfilled by the assessee in the sense that the notional profit had never been included in the Credit Side of the Profit & Loss Account. In our opinion, it, therefore, cannot be said that this issue does not arise from the order of the Assessing Officer and there is a mistake in the order of the Tribunal in giving direction to the ld. CIT(Appeals) to verify the same, as alleged by the assessee. Moreover, as rightly pointed out by the ld. D.R., the ld. CIT(Appeals) is bound to give due opportunity to the assesese of being heard before deciding this issue as per the direction of the Tribunal and if the profit in question is already included in the gross total income of the assessee as claimed, the assessee cannot be said to have any material grievance on this issue. We, therefore, hold that there is no mistake in the order of the Tribunal while deciding the issue relating to the assessee's claim for deduction under section 80IC as alleged by the assessee. Disallowance under section 14A - Held that:- Disallowance under section 14A was arrived at by the Assessing Officer by a categorical recording that he was not satisfied with the correctness of the disallowance made by the assesese with reference to the accounts, as the assesese had not maintained any separate details or accounts in respect of the incurrence of the expenditure. The affidavit of its Authorized Representative filed by the assessee thus is not only unsupported by anything on record but the same is contrary to the findings/ observations specifically recorded by the Tribunal in its order. In our opinion, the said affidavit, therefore, cannot be relied upon to say that there is a mistake in the order of the Tribunal as alleged by the assessee. Moreover, a specific view has been taken by the Tribunal in its order on this aspect of the matter and any interference with the same will amount to review, which is not permissible under section 254(2) of the Act. As such considering all the facts of the case, we are of the view that there is no mistake apparent from record in the order of the Tribunal as alleged by the assessee in the present Miscellaneous Applications. In that view of the matter, we dismiss these Miscellaneous Applications filed by the assessee.
|