The Income Tax Appellate Tribunal (ITAT) Mumbai bench has issued a corrigendum for typographical errors in tribunal order in Deutsche Asset Management’s Case.
Assessee, Deutsche Asset Management India Pvt. Ltd. filed petition before the tribunal to issue Corrigendum for typographical errors in assessee’s two cases in assessment year 2011-12 and Assessment Year 2014-15.
The Assessment Year Tribunal had erroneously mentioned the Financial Year 2016-17 instead of Assessment Year 2016-17. Also reimbursement of DWS expenses” has been inadvertently mentioned by the Tribunal as “reimbursement of TWS expenses.
In the Tribunal Order, an amount of Rs.1,51,00,806/- in respect of scheme related expenses was disallowed by the AO whereas the Tribunal had stated the amount to be Rs 11,12,00,806/- .
Further, in case of second assessment year 2014-15. In the tribunal order, the brokerage of Rs.1,22,11,083/- represented the brokerage incurred and paid during the assessment year 2015-16 and which remained unamortised as on 4 March 2016, being the date of transfer and discontinuance of the business, and not on 31 March 2016.
Furthermore assessee claimed deduction for the unamortized brokerage expenses of Rs.1,22,11.083 by filing a revised return of income for the assessment year 2014-15 and not for the Assessment Year 2015-16.
After considering the facts the two member bench of Prashant Maharishi (Accountant Member) and Amit Shukla (Judicial Member) admitted that there were typographical errors and issued the Corrigendum for typographical errors in tribunal order in the assessee’s case.
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