DCIT, Circle - 13(2), Kolkata , Kolkata V. M/s. Sunshine Tracon Pvt. Ltd., , Howrah

ITA 1280/KOL/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 3966 (ITAT-KOLKATA)
• Duration Of Justice: 7 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-02-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 11-06-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Earning of tax free income; Tax effect
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH (D), KOLKATA [BEFORE SHRI P.M. JAGTAP, VICE PRESIDENT & SHRI A.T. VARKEY, JM] I.T.A. NO. 1280/KOL/2018 ASSESSMENT YEAR: 2012-13 DCIT CIRCLE 13(2) KOLKATA.............................................................APPELLANT AAYAKAR BHAWAN POORVA, 110, SHANTI PALLY, E.M. BY PASS, KOLKATA 700 107. M/S. SUNSHINE TRACON PVT. LTD....................RESPONDENT 37/7, MIRPARA ROAD, BHATIANAGAR, LILUAH, HOWRAH 711 101. [PAN: AAGCS 8868 M] APPEARANCES BY: SHRI SHANKAR HALDER, SR. DR (JCIT) APPEARING ON BEHALF OF THE REVENUE. NONE APPEARING ON BEHALF OF THE ASSESSEE. DATE OF CONCLUDING THE HEARING : FEBRUARY 05, 2019 DATE OF PRONOUNCING THE ORDER : FEBRUARY 05, 2019 ORDER PER P.M. JAGTAP, VICE PRESIDENT THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. CIT(A) I, KOLKATA DATED 07.03.2018 AND THE GROUNDS RAISED THEREIN BY THE REVENUE READ AS UNDER: 1. WHETHER ON THE BASIS OF FACTS & CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. CIT(A), KOLKATA ERRED IN DELETING THE ADDITION OF RS. 38,67,855/- U/S 14A OF THE IT ACT, READ WITH RULE 8D OF THE IT RULE, 1962 WITHOUT APPRECIATING THE VIEWS OF THE A.O. 2. WHETHER ON THE BASIS OF FACTS & CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. CIT(A), KOLKATA ERRED IN DELETING THE ADDITION OF RS. 38,67,855/- U/S 14A OF THE IT ACT, READ WITH RULE 8D OF THE IT RULE, 1962 IGNORING THE RECENT JUDGMENT DATED 12.02.2018 OF THE HONBLE SUPREME COURT IN THE CASE OF MAXOPP INVESTMENT LTD. (SC) WHERE IT IS HELD THAT THE APPLICABILITY OF SEC. 14A DOES NOT HINGE ON THE ACTUAL EARNING OF TAX-EXEMPT INCOME. 2. AT THE TIME OF HEARING FIXED IN THIS CASE TODAY I.E. 05.02.2019, NONE HAS APPEARED ON BEHALF OF THE ASSESSEE. AS POINTED OUT BY THE 2 I.T.A. NO. 1280/KOL/2018 ASSESSMENT YEAR: 2012-13 M/S. SUNSHINE TRACON PVT. LTD. LEARNED DR, THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE ASSESSEE HOWEVER IS LESS THAN MONETARY LIMIT OF RS. 20 LACS FIXED BY THE CBDT VIDE CIRCULAR NO. 3/2018 DATED 11.07.2018 FOR FILING THE APPEAL OF THE REVENUE BEFORE THE TRIBUNAL. AS CLARIFIED IN THE SAID CIRCULAR, THE REVISED MONETARY LIMIT OF RS. 20 LACS FOR FILING THE APPEAL BEFORE THE TRIBUNAL IS APPLICABLE EVEN TO THE PENDING APPEALS AND SUCH APPEALS MAY BE TREATED AS NOT PRESSED / WITHDRAWN. WE ACCORDINGLY DISMISS THIS APPEAL OF THE REVENUE BY TREATING THE SAME AS NOT PRESSED / WITHDRAWN. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 5 TH FEBRUARY, 2019. SD/- SD/- (A.T. VARKEY) (P.M. JAGTAP) JUDICIAL MEMBER VICE PRESIDENT DATED: 05/02/2019 BISWAJIT, SR. PS COPY OF ORDER FORWARDED TO: 1. M/S. SUNSHINE TRACON PVT. LTD., 37/7, MIRPARA ROAD, BHATIANAGAR, LILUAH, HOWRAH 711 101. 2. DCIT, CIRCLE 13(2), AAYAKAR BHAWAN POORVA, 110, SHANTI PALLY, E.M. BY PASS, KOLKATA 700 107. 3. THE CIT(A) 4. THE CIT 5. DR TRUE COPY, BY ORDER, ASSISTANT REGISTRAR / H.O.O. ITAT, KOLKATA