TaxTMI 
TaxTMI 
2023 (2) TMI 909
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....e CIT(A) is arbitrary and is no founded on facts." Whereas the Hon'ble ITAT on Para-3 of the ITAT Order on Page-2 has stated: Quote: Para-3 Learned counsel for the assessee submitted that in the earlier years viz. assessment 2006-07 and 2008-09 , learned CIT(A) has decided the issue in favour of the assessee and held that the income from factory premises should be assessed as 'Income from business' and the Revenue has not preferred any appeal against the order of learned CIT(A). He relied on the decision of Hon'ble Apex Court in the case of CIT Vs Vikram Cotton Mills Ltd. - (1988) 169 UTR 597 (SC), He submitted that the total amount received from the factory premises along with its equipments, fixtures etc. was Rs.7 to Rs.8 lakhs per annum only. He submitted that the chairman of the assessee company is an lIT qualified engineer and is 88 years of age. He submitted that the assessee has to discontinue the business since the year 1988 due to litigation pending before Hon'ble Delhi High Court and Central Excise and Sales Tax authorities etc. He submitted that for proper utilization of the premises, the assessee has handed over its entire factory premise....
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.... of radio, transistors, T.V. from 1971 till 1988. In 1988, there was workers strike (lockout) as a result of which complete activities of the company came to complete halt. The Management exercising prudence gave its entire wherewithal viz complete factory building, machinery, furniture, fixtures, generator and other utility to a company with similar business viz. Multi-Media Marketing on a license to run the business against a License fee as the Assessee needed cash/funds to fight cases initiated by workers and complaints viz labour laws, labour rights, provident fund, workers welcome passage, sales tax, excise duty, income tax etc. Sir, the assessee has been fighting Court cases for all these 28 years and has now brought them to various levels, as a result of which the list produced on a page 61 of the Paper Book contained pending cases before the Hon'ble Courts (Copy enclosed). Para - 5 of the Order No. ITA No.6444/DeI/2014 - Thus, the view that cases worth Rs.1.35 crores seems the assessee is not serious, is unfair. Apart it is also important, that the assessee filed its appeal before Hon'ble ITAT against the observations of the CIT(A) vide CIT(A) order No. 97/....
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....s income from house property, therefore, it is a mistake apparent from record and is prayed to recall subject order and oblige." 2.1. Ld. Counsel for the assessee submitted that facts are incorrectly appreciated by the Tribunal. Therefore, it is a mistake apparent form the record. Ld. Counsel for the assessee placed reliance on the judgement of Hon'ble Supreme Court rendered in the case of Radhasoami Satsang vs CIT [1992] 193 ITR 0321 (SC). He also placed reliance on the jdugement of Hon'ble Allahabad High Court rendered in the case of Laxmi Electronic Corporation Ltd. vs CIT [1991] 188 ITR 0398 (All.HC). Therefore, he prayed that order dated 03.08.2015 in ITA No.6444/Del/2014 [Assessment year 2010-11] may be recalled and the appeal may be fixed for hearing at its original number. 3. Ld. Sr. DR opposed these submissions and submitted that by way of present M.A, the assessee is seeking the review of the order which is not permissible under law. He relied upon the judgement of Hon'ble Supreme Court rendered in the case of CIT vs M/s Reliance Telecom Ltd. in Civil Appeal No.7110 & 7111 of 2021 order dated 03.12.2021. He submitted that the Hon'ble Supreme Court has made it clear tha....
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....Income Tax Act, 1961 ("the Act"). The law is clear that only mistake apparent from record can be rectified. The Hon'ble Supreme Court in the case of CIT vs M/s Reliance Telecom Ltd. (supra) has held as under:- 3. "We have heard Shri Balbir Singh, learned Additional Solicitor General of India appearing on behalf of the Revenue and Shri Anuj Berry, learned Advocate appearing on behalf of the Resolution Professional of the respondent-company. At this stage, it is required to be noted that the respondent-company / companies - respective assessees currently are undergoing corporate insolvency resolution process and the Resolution Professional is appointed. We have heard learned counsel for the Resolution Professional of the respondent- assessee. 3.1. We have considered the order dated 18.11.2016 passed by the ITAT allowing the miscellaneous application in exercise of powers under Section 254(2) of the Act and recalling its earlier order dated 06.09.2013 as well as the original order passed by the ITAT dated 06.09.2013. 3.2 Having gone through both the orders passed by the ITAT, we are of the opinion that the order passed by the ITAT dated 18.11.2016 recalling its earlier order date....