TMI Blog2019 (6) TMI 589X X X X Extracts X X X X X X X X Extracts X X X X ..... ngs of fact recorded by the lower authorities. Under those facts, the Tribunal has concurred with the finding of the CIT(A) in so far as the issue of corpus donations are concerned. The facts involved in these years when compare to previous financial year are different, therefore, the Tribunal has decided not to follow the findings recorded by the Tribunal while set-aside the issue to the file of the AO. The facts and errors brought by the assessee in its miscellaneous application in respect of corpus donations is not a mistake apparent on record, which could be rectify u/s 254(2) Carry forward and set off of loss u/s 72 - HELD THAT:- This issue has been set-aside to ascertain correct facts in light of provisions of section 72 and 70 of the Act and if conditions prescribed u/s 72 and 70, then the AO is directed to allow the benefit of set off of losses as claimed by the assessee. Therefore, we are of the considered view that there is no error in the order of the Tribunal as pointed out by the assessee which could be rectified u/s 254(2) and hence the argument advanced by the ld. Counsel for the assessee are rejected. Accordingly, miscellaneous applications filed by the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ertain apparent errors in the order dated 4th July 2018 passed by the Hon'ble Tribunal in the above appeal. 1) The order dated 4th July 2018, Received by assessee on 7/08/2018. Hence rectification application is within time of six months . 2). Ground No. 1: i). On the ground of taxation of corpus donation, Hon'ble Tribunal in para No. 14 on page no. 14 of the ITAT order has observed as under. Onus is on the assessee to prove that such donations are in fact corpus donations which shall not form part of the income of the trust u/s 11 of the act. In this case on perusal of the fact, We find that AO as well as Ld. CIT(A) gave categorical finding that assessee failed to file any evidence to prove that these donations are corpus donations * We wish to humbly submit that Assessee did file List with letters for corpus Donations on page no. 17 to 42 of the paper book. The same evidence was also filed with Ld CIT(A) which is reproduced by Hon'ble ITAT on para No. 13, Page no. 12 of the order as under. The Id CIT(A) further observed that, Although assessee furni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MMS Opening Balance ₹ 1,27,12,578/- Repaid ₹ 3,00,0007- Closing ₹ 1,24,12,578/- EMS Opening Balance ₹ 1,09,31,718/- Repaid ₹ 12,93,400A Closing ₹ 96,38,318/- Copies of accounts were attached on page no. 24 25 of the paper Book Detailed chart of year wise loans advanced was also submitted during hearing. (Copy attached again). We humbly feel that there is mistake in the order as necessary ledgers has been filed in paper book on page no. 24 to 25 were referred by AR during the course of hearing. In view of the above, the Applicant humbly prays that the Hon'ble Tribunal rectifies its above order. The Applicant says that the Hon'ble Tribunal is specifically empowered to do so under section 254 (2) of the Act and that in any event, the Tribunal has inherent power to rectify, in the interest of justice, errors in the order, which came prejudice to any of the parties before it 3. The Ld. AR for the assessee, at the time of hearing, submitted that there are certain apparent errors in the order of the Tribunal dated 04/07/2018 in as much as the ground no.1 relating to taxability of co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. AR of the assessee fails to make out a prima facie case of mistakes apparent on record from the order of the Tribunal dated 04/07/2018, but the Ld. AR for the assessee wants to review the decision rendered by the Tribunal in the light of the arguments advanced by both parties, which is not permissible u/s 254(2) of the Act, and hence miscellaneous applications filed by the assessee for all assessment years may be dismissed. 7. We have heard both the parties and perused the miscellaneous application filed by the assessee along with order of the Tribunal dated 04/07/2018. We find that the Tribunal has recorded its categorical finding in light of facts brought out by the lower authorities and also evidences filed by the assessee during the course of hearing to come to the conclusion that the assessee has failed to file necessary evidences to prove that donations are in fact corpus donations which shall not form the income of the trust u/s 11 of the Act. We further noted that for the earlier years, the Tribunal has set-aside the issue to the file of the Ld. AO to ascertain correct facts on respect of donations received by the assessee but for the years under considera ..... X X X X Extracts X X X X X X X X Extracts X X X X
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