ITO, Ward-4(1), Kolkata, Kolkata V. M/s Thanwas Investments Ltd., Kolkata

ITA 1186/KOL/2017

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 0927 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 5 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-11-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 24-05-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AGAINST DATED PASSED
• Assessee Lawyers: PE
• Keywords: Assessment record

Judgement Text

ITA NO.1186/KOL/2017 (ASSESSMENT YEAR-2012-13) IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH A, KOLKATA BEFORE SH. J.SUDHAKAR REDDY, ACCOUNTANT MEMBER & SH. S.S.VISWANETHRA RAVI, JUDICIAL MEMBER ITA NO.1186/KOL/2017 (ASSESSMENT YEAR-2012-13) ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER THIS APPEAL BY THE REVENUE AGAINST THE ORDER DATED 27.03.2017 PASSED BY CIT(A)-2, KOLKATA FOR AY 2012-13. 2. HEARD BOTH PARTIES AND PERUSED THE MATERIAL AVAILABLE ON RECORD. IT IS NOTED FROM THE RECORD THAT THE CIT(A) EXAMINED THE ASSESSMENT RECORD AND FOUND NO SHARE CAPITAL/SHARE APPLICATION MONEY WAS RAISED BY THE ASSESSEE DURING THE YEAR UNDER CONSIDERATION. LD.DR DID NOT BRING ANY EVIDENCE ON RECORD CONTRARY TO THE SAID FINDING OF THE CIT(A). WE FIND NO INFIRMITY IN THE ORDER OF CIT(A). THEREFORE, GROUND NOS. 1, 2 & 3 RAISED BY THE REVENUE ARE DISMISSED. 1 ITO, WARD-4(1), 8 TH FLOOR, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700001. VS M/S. THANWAS INVESTMENTS LTD., 1 ST FLOOR, 4, N.S.ROAD, KOLKATA-700001. PAN-AABCC4066C (APPELLANT) (RESPONDENT) APPELLANT BY SH. SANKAR HALDER, SR.DR RESPONDENT BY SH. S.M.SURANA, ADVOCATE DATE OF HEARING 08.11.2018 DATE OF PRONOUNCEMENT 22.11.2018 ITA NO.1186/KOL/2017 (ASSESSMENT YEAR-2012-13) 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 22.11.2018. SD/- SD/- (J.SUDHAKAR REDDY) (S.S.VISWANETHRA RAVI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATE:- 22.11.2018 *AMIT KUMAR* COPY FORWARDED TO: 1. APPELLANT- ITO, WARD-4(1), 8 TH FLOOR, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700001. 2. RESPONDENT- M/S. TANWAS INVESTMENTS LTD., 1 ST FLOOR, 4, N.S.ROAD, KOLKATA-700001. 3. CIT-KOLKATA 4. CIT(APPEALS)-KOLKATA 5. DR: ITAT -KOLKATA BENCHES AR/H.O.O ITAT, KOLKATA 2