TaxTMI 
TaxTMI 
2020 (2) TMI 723
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....see : S/Shri Sandeep Bhalla & Prashant Bhojwani - Ld. ARs For the Revenue : Shri Amit Pratap Singh - Ld.DR ORDER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER): - 1. By way of these Miscellaneous Applications, the assessee seeks rectification in various orders passed by Tribunal in captioned appeals on various dates. The details of the same have already been tabulated in the cause-title. Since the grievance of the assessee is common, all the applications were heard together and are now being disposed-off by way of consolidated order for the sake of convenience and brevity. 2. Since the order of Tribunal for AYs 1999-00 to 2001-02 is common order, we first take up applications filed for these years. 3.1 The application MA No. 478....
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....rein Hon'ble Court has approved the ratio laid down by Hon'ble Delhi High Court in Virtual Soft Systems Ltd. (341 ITR 593). It has been submitted that the assessee has also followed exactly the same method of accounting and claimed deduction. In the above background, it has been submitted that there is mistake apparent from record since the issue has now been settled by Hon'ble Supreme Court and therefore, the aforesaid directions given by Tribunal be set aside and the issue be decided in assessee's favor. 3.2 We have carefully heard the arguments advanced by both the representatives and we have also deliberated upon the order passed by the Tribunal. We find that the issue of lease equalization reserve has been dealt with at para-3 of th....
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....e three years under consideration and restore the same to the file of the assessing officer with the direction to decide the issue afresh in the light of discussions made by the Tribunal in AY 1994-95 to 1997-98. As evident from the order, the Hon'ble bench has merely followed the consistent view taken by the Tribunal in earlier years and restored the matter back for fresh adjudication to the file of Ld.AO on identical lines. It is quite discernible that the order of Ld. first appellate authority, on the issue, has been set aside and Ld. AO has been directed to decide the issue afresh in accordance with directions issued by Tribunal in AYs 1994-95 to 1997-98. It is also observed that the binding decision of Hon'ble Delhi High Court in Vi....
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....n following applications: - No. MA Nos. Assessment Year 1. 479/Mum/2018 2000-01 2. 480/Mum/2018 2001-02 3. 481/Mum/2018 2002-03 4. 576/Mum/2018 2003-04 5. 575/Mum/2018 2004-05 6. 469/Mum/2018 1998-99 Since facts are pari-materia the same, all these applications stand dismissed. 4.1 The application MA No.690/Mum/2018 for AY 1999-2000 has been preferred against Tribunal's order dated 17/12/2014 in Revenue's appeal ITA No.5987/Mum/2002. The assessee seek replacement of word operating as mentioned in para-12 of the order by the word finance since as per the application, the assessee was engaged in finance lease. 4.2 The point urged by the assessee find place in para-12 of t....
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.... transactions were genuine in nature on non-genuine in nature. Upon perusal of CIT(A) order for this year, as placed on record, would also show that no such factual findings were rendered by learned first appellate authority in its order. The depreciation was allowed by following earlier years' orders and by observing that the appellant were the owners of leased assets and they have been used for the business purpose also. Therefore, the point urged by the assessee could not be accepted since there is no mistake apparent from record in terms of Sec. 254(2) which would warrant interference in the order. The application merely seeks further factual finding in the matter and seek mere improvement in the order, which is impermissible. Resultant....