2018 (8) TMI 1423

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.... of together by this common order. [2.0] Special Civil Application No.10194/2018 has been preferred by the petitioner - revenue for an appropriate writ, order or direction to quash and set aside the impugned order dated 23/01/2018 passed by the learned Income Tax Appellate Tribunal "A" Bench, Ahmedabad (hereinafter referred to as "the learned Tribunal") in MA No.40/Ahd/2012 in CO No.355/Ahd/2004 for the Assessment Year 2001-02 by which the learned Tribunal has recalled its earlier order passed in CO 355/AHD/2004 for the Assessment Year 2001-02 and has restored CO No.355/Ahd/2004 to the file of the learned Tribunal for fresh decision. [2.1] Special Civil Application No.10197/2018 has been preferred by the revenue for an appropriate writ, o....

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....estment for the purpose of disallowance under Section 14A of the Income Tax Act, which was to be calculated on balance amount, being Rs. 17,93,51,118/-. Learned CIT(A) further held that the proportionate interest rate of 6.57% on Rs. 17,93,51,118/- was to be considered for disallowance under Section 14A of the Income Tax Act, and therefore, the learned CIT(A) reduced the disallowance of Rs. 1,17,91,794/-. Being aggrieved by the order passed by the learned CIT(A), revenue preferred Appeal, being ITA No.3475/Ahd/2004. The assessee preferred Cross Objection, being CO No.355/Ahd/2004 before the learned Tribunal. Learned Tribunal partly allowed the Appeal of the revenue by directing that the stock in trade was required to be considered for arr....

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.... Objection, the same was after considering all the material facts. It is submitted that therefore the impugned order passed by the learned Tribunal recalling its earlier order can be said to be reviewing its own order. Making the above submission, it is requested to admit the present petitions. [5.0] Having heard Mrs Mauna Bhatt, learned Advocate appearing on behalf of the petitioner - revenue and considering the impugned common order passed by the learned Tribunal by which the learned Tribunal has recalled its earlier order and has directed re-adjudication of the issue of disallowance under Section 14A of the Income Tax Act, the same is not required to be interfered with by this Court in exercise of powers under Article 226 of the Consti....