M/S BHARAT COKING COAL LTD , DHANBAD V. ACIT CIR-1 , Dhanbad

ITA 126/RAN/2018

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 9377 (ITAT-RANCHI)
• Duration Of Justice: 4 year(s) 3 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-09-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2011-2012
• Appeal Filed On: 08-05-2018
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 147; 143(3); 40(a)(ia); 250

Judgement Text

I.T.A. No.126/Ran/2018 Assessment Year: 2011-12 M/s Bharat Coking Coal Ltd. 1 IN THE INCOME TAX APPELLATE TRIBUNAL “RANCHI BENCH, RANCHI VIRTUAL HEARING AT KOLKATA Before Shri Sanjay Garg, Judicial Member and Shri Manish Borad, Accountant Member I.T.A. No.126/Ran/2018 Assessment Year: 2011-12 M/s Bharat Coking Coal Ltd................................................................ Appellant Finance Directorate, Ground Floor, Koyla Bhawan, Koyla Nagar, Dhanbad-826005. [PAN: AAACB7934M] vs. ACIT, Circle-1, Dhanbad............................................................ Respondent Appearances by: Shri M. K. Choudhary, Advocate, appeared on behalf of the appellant. Shri Saumyajit Das Gupta, CIT-DR, appeared on behalf of the Respondent. Date of concluding the hearing : August 26, 2022 Date of pronouncing the order : September 07, 2022 ORDER Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the assessee against the order dated 20.09.2017 of the Commissioner of Income Tax (Appeals), Dhanbad [hereinafter referred to as ‘CIT(A)’] passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’). 2. At the outset, the ld. Counsel for the assessee has submitted that the assessee may be allowed to withdraw the present appeal. A letter dated 25.08.2022 in this respect has been filed, the contents of which are reproduced as under: From: M/s Bharat Coking Coal Ltd., Koyla Bhawan, Dhanbad Before, Hon'ble Income Tax Appellate Tribunal, Ranchi Bench, I.T.A. No.126/Ran/2018 Assessment Year: 2011-12 M/s Bharat Coking Coal Ltd. 2 Ranchi Sir, Reg: I.T.A. No. 126/Ran/2018- AY 2011-12 u/s 147 r.w.s. 143(3) Respectfully, with reference to the hearing of the above appeal fixed on 25.08.2022 it is submitted that there was a point in dispute at Ground No.4 in relation to disallowance of interest u/s 40(a)(ia) on interest waived by the parent holding company M/s Coal India Ltd. amounting to Rs. 37,86,26,000/-. Besides, at Ground No.3 there was dispute of Rs. 133.93 crores. In fact this addition was made in order u/s 143(3) against which ITA No. 293R/2017 is also pending. As such this ground is not pressed here in this appeal. As such the ground Nos. 1, 2 & 3 are not pressed. We are enclosing herewith the order u/s 143(3)/154/147/251/154 dated 31.03.2021 passed by Ld. AO, vide which the aforesaid addition of Rs.37,86,26,000/-, as per aforesaid Ground No. 4, has been reduced out of the total income. As such now there remains no dispute in the aforesaid appeal of the appellant. It is, therefore, requested that the aforesaid appeal be treated as withdrawn, as not pressed. Copy of similar order passed in ITA No.No.129/Ran/2018 Dated 24.02.2022 is also attached. For this act of kindness we shall remain much grateful. Filed by, Encl: Order u/s 143(3)/154/147/251/154 dated 31.03.2021 Order passed in ITA No. No.129/Ran/2018 Dated 24.02.2022 Ranchi Dt. 20.08.2022 (M. K. Chowdhary) Advocate 3. In view of above submissions, the appeal of the assessee is hereby dismissed as withdrawn. Kolkata, the 7 th September, 2022. Sd/- Sd/- [Manish Borad] [Sanjay Garg] Accountant Member Judicial Member I.T.A. No.126/Ran/2018 Assessment Year: 2011-12 M/s Bharat Coking Coal Ltd. 3 Dated: 07.09.2022. RS Copy of the order forwarded to: 1. M/s Bharat Coking Coal Ltd 2. ACIT, Circle-1, Dhanbad 3. CIT(A)- 4. CIT- , 5. CIT(DR), //True copy// By order Assistant Registrar, Kolkata Benches