Income Tax Appellate Tribunal - Hyderabad
Prolifics Corporation Limited ... vs Dcit, Circle-3(1), Hyderabad, ... on 17 March, 2017
MA NO 9 of 2017 Prolifics Corpn Ltd Hyderabad
IN THE INCOME TAX APPELLATE TRIBUNAL
Hyderabad ' A ' Bench, Hyderabad
Before Smt. P. Madhavi Devi, Judicial Member
AND
Shri S.Rifaur Rahman, Accountant Member
M.A. No.09/Hyd/2017
(Arising out of ITA No.1646/Hyd/2014)
(Assessment Year: 2010-11)
Prolifics Corporation Ltd Vs DCIT, Circle 3 ( 1 )
(previously known as Semantics Hyderabad
Space Technologies Ltd)
Hyderabad
PAN: AAGCS 6868 P
For Assessee : Shri Sampath Raghunathan
For Revenue : Smt. Suman Malik, DR
Date of Hearing: 17.03.2017
Date of Pronouncement: 17.03.2017
ORDER
Per Smt. P. Madhavi Devi, J.M.
This application is filed by the assessee seeking rectification of certain mistakes apparent from record from the order of the Tribunal dated 28.09.2016.
2. The learned Counsel for the assessee submitted that the Tribunal has disposed of ITA No.1646/Hyd/2014 vide order dated 28.09.2016 in which there are small typographical errors which need rectification. He pointed out that in Page 9, Para No.8 of the order, the Tribunal has observed that the assessee has provided an advance of Rs.9,28,37,001 on behalf of its AE to SST North America, whereas the actual figure is only Rs.4,28,37,001.
Page 1 of 3MA NO 9 of 2017 Prolifics Corpn Ltd Hyderabad
3. Further, the learned Counsel also pointed that in Para 10.1 of the order, the Tribunal has directed the AO to re-work out the interest on loan provided by the assessee, whereas the issue also involved advances. Therefore, he requested that the word "and advances" be inserted after the word "loan" in Para 10.1.
4. On the other submissions made in the M.A. the learned Counsel for the assessee did not make any oral submissions during the course of hearing. Therefore, they are taken as not pressed.
5. As regards the points 1 & 2 pointed out above, we have verified the record and we find that the assessee's contentions are correct. Therefore, we direct that in Para No.8 on page 9, the figure of Rs.9,28,37,001 shall be read as Rs.4,28,37,001.
6. Further, we also find that line two and three in Para 10.1 needs rectification. Therefore, the phrase "loans and advances provided by the assessee" shall be read in the place of "loan brought by the assessee". The MA is accordingly partly allowed.
7. In the result, Miscellaneous Application filed by the assessee is partly allowed.
Order pronounced in the Open Court on 17th March, 2017.
Sd/- Sd/-
(S.Rifaur Rahman) (P. Madhavi Devi)
Accountant Member Judicial Member
Hyderabad, dated 17th March, 2017.
Vinodan/sps
Page 2 of 3
MA NO 9 of 2017 Prolifics Corpn Ltd Hyderabad Copy to:
1 Prolifics Corporation Ltd (previously known as Semantics Space Technologies Ltd) Plot No.1 Survey No.14, 5th Floor, DHLFVC Silicon Towers, Madhapur Road, Kondapur, Hyderabad 500032 2 DCIT Circle 3 (1) Hyderabad 3 DRP-1 Hyderabad 4 DCIT - (Transfer Pricing)-II Hyderabad 5 The Director of Income Tax (IK.T & T.P) Hyderabad 6 CIT-III Hyderabad 7 The DR, ITAT Hyderabad 8 Guard File By Order Page 3 of 3