Indo Nabin Projects Ltd., Kolkata V. DCIT, CIR-10, KOLKATA, Kolkata

ITA 1322/KOL/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 0804 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 1 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-12-2017
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 27-10-2015
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SOUMYAJIT DASGUPTA
• Assessee Lawyers: S R BHATTA CHARYYA
• Keywords: Bad and doubtful debts
• Section: 133(6)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH : KOLKATA [BEFORE HONBLE SHRI N.V.VASUDEVAN, JM & SHRI M.B ALAGANESH, AM ] I.T.A NO. 1322/KOL/20 15 ASSESSMENT YEAR : 2010-1 1 INDO NABIN PROJECTS LTD -VS- DCIT, CIRCLE-10, K OLKATA (FORMERLY INDO POWER PROJECTS LTD.) [PAN: AAACI 6515 M] (APPELLANT) (RESPO NDENT) FOR THE APPELLANT : SHRI S.R. BHATTA CHARYYA, FCA FOR THE REVENUE :SHRI SOUMYAJIT DASGUPTA, ADDL .CIT, SR. DR DATE OF HEARING : 23.11.2017 DATE OF PRONOUNCEMENT : 08.12.2017 ORDER PER M.BALAGANESH, AM 1. THIS APPEAL BY THE ASSESSEE ARISES OUT OF THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) -4, KOLKATA [ IN SHORT THE LD CITA] IN APPEAL NO. 259/CIT(A)- 4/CIRCLE-10/KOL/14-15 DATED 19.08.2015 AGAINST THE ORDER PASSED BY THE DCIT, CIRCLE- 10, KOLKATA [ IN SHORT THE LD AO] UNDER SECTION 14 3(3) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) DATED 30.03.2013 FOR THE ASSESSM ENT YEAR 2010-11. 2. THE ONLY ISSUE TO BE DECIDED IN THIS APPEAL IS A S TO WHETHER THE LD. CIT(A) WAS JUSTIFIED IN RESTRICTING THE DISALLOWANCE MADE U/S 40A(IA) OF THE ACT IN RESPECT OF SHORT DEDUCTION OF TAX AT SOURCE IN THE FACTS AND CIRCUMS TANCES OF THE CASE. 2 ITA NO.1322/KOL/2015 INDO NABIN PROJECTS LTD (FORMERLY INDO POWER PROJEC TSLTD) A.YR .2010-11 2 3. THE BRIEF FACTS OF THIS ISSUE IS THAT THE ASSES SEE IS ENGAGED IN BUSINESS AS AN ELECTRICAL CONTRACTOR, SUPPLIER AND SERVICES. THE ASSESSEE FIL ED ITS RETURN OF INCOME FOR THE ASSESSMENT YEAR 2010-11 ON 12.10.2010 DECLARING TOT AL INCOME OF RS. 5,31,46,950/-. DURING THE COURSE OF ASSESSMENT PROCEEDINGS, THE LD . AO ASKED THE ASSESSEE TO FURNISH THE DETAIL OF EXPENSES WITH TAX DEDUCTED AT SOURCE. THE LD. AO OBSERVED THAT THE FOLLOWING PAYMENTS WERE MADE WITHOUT DEDUCTION OF T AX AT SOURCE BY THE ASSESSEE. THE ASSESSEE PLEADED THAT THE EXPENDITURE INCLUDED IN THE AFORESAID TABLE ALSO INCLUDES EXPENDITURES ON WHICH SHORT DEDUCTION OF TAX AT SOU RCE WERE MADE BY THE ASSESSEE. THE LD. AO FOR WANT OF DETAILS DISALLOWED THE AFORESAID SUM OF RS. 19,32,090/- U/S 40A(IA) OF THE ACT. BEFORE THE LD. CIT(A) THE ASSESSEE SUBM ITTED THAT THERE ARE CERTAIN PAYMENTS FOR WHICH TAX HAS BEEN DULY DEDUCTED AND REMITTED B Y THE ASSESSEE TO THE TUNE OF RS. 7,45,200/-. THE ASSESSEE SUBMITTED A STATEMENT SHOW ING PARTY WISE DETAILS TOGETHER WITH ITS REQUISITE TDS REMITTANCE, WHICH WAS DULY APPREC IATED BY THE LD. CIT(A) AND RELIEF 3 ITA NO.1322/KOL/2015 INDO NABIN PROJECTS LTD (FORMERLY INDO POWER PROJEC TSLTD) A.YR .2010-11 3 WAS GRANTED TO THE TUNE OF RS. 7,45,200/- BY THE LD . CIT(A). THE ASSESSEE FURTHER SUBMITTED THAT IN RESPECT OF BALANCE SUM OF RS. 11, 86,890/- THE ASSESSEE HAD INDEED DEDUCTED TAX AT SOURCE BUT THE SAME IS NOT IN ACCOR DANCE WITH RELEVANT PROVISIONS OF CHAPTER XVIIB AND ACCORDINGLY THE SAME WOULD ONLY F ALL UNDER SHORT DEDUCTION OF TAX AT SOURCE. THE ASSESSEE FURTHER PLEADED THAT IN RES PECT OF SHORT DEDUCTION OF TAX AT SOURCE THE PROVISIONS OF SECTION 40A(IA) OF THE ACT CANNOT BE INVOKED IN VIEW OF THE DECISION OF THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE O F CIT VS. S.K. TEKRIWAL IN ITAT NO. 183 OF 2012 G.A. NO. 2069 OF 2012 DATED 03.12.2012. THE LD. CIT(A) HOWEVER DID NOT HEED TO THIS CONTENTION OF THE ASSESSEE AND SUSTAIN ED THE DISALLOWANCE TO THE TUNE OF RS. 11,86,890/- U/S 40A(IA) OF THE ACT. AGGRIEVED THE A SSESSEE IS IN APPEAL BEFORE US ON THE FOLLOWING GROUND: 1. DISALLOWANCE OF RS. 11,86,890/- ON ACCOUNT OF SHORT DEDUCTION OF TDS ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN L AW, THE LD. CIT(APPEALS)-4, KOLKATA WAS WRONG IN ALLOWING ONLY RS. 7,45,200/- O UT OF RS. 19,32,090/-, THEREBY DISALLOWING RS. 11,86,890/- ON ACCOUNT OF S HORT DEDUCTION OF TDS WITHOUT GOING THROUGH THE VERACITY OF THE CLAIM OF THE APPELLANT ALONG WITH THE DOCUMENTARY EVIDENCES AND ALSO NOT CONSIDERING THE RELEVANT JUDGMENT CITED IN SUPPORT OF ITS CLAIM. IT IS THEREFORE, PRAYED THAT THE LD. BENCH MAY KINDLY ALLOW THE ENTIRE EXPENDITURE OF RS. 19,32,090/-. 4. WE HAVE HEARD THE RIVAL SUBMISSIONS. IT IS NOT I N DISPUTE THAT THE SUM OF RS. 11,86,890/- REPRESENTS AMOUNTS OF EXPENDITURES FOR WHICH SHORT DEDUCTION OF TAX AT SOURCE HAS BEEN MADE BY THE ASSESSEE. IT IS WELL SE TTLED BY THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. S.K. TEKRIWAL IN ITAT NO. 183 OF 2012 G.A. NO. 2069 OF 2012 DATED 03.12.2012 WHEREIN IT HAS BEEN H ELD THAT DISALLOWANCE U/S 40A(IA) OF THE ACT CANNOT BE INVOKED IN RESPECT OF SHORT DEDUC TION OF TAX AT SOURCE. HENCE, RESPECTFULLY FOLLOWING THE SAID DECISION WE HOLD TH AT NO DISALLOWANCE U/S 40A(IA) OF THE ACT IN THE SUM OF RS. 11,86,890/- COULD BE MADE IN THE FACTS AND CIRCUMSTANCES OF THE CASE. ACCORDINGLY, GROUND NO. 1 RAISED BY THE ASSES SEE IS ALLOWED. 4 ITA NO.1322/KOL/2015 INDO NABIN PROJECTS LTD (FORMERLY INDO POWER PROJEC TSLTD) A.YR .2010-11 4 5. THE NEXT ISSUE TO BE DECIDED IN THIS APPEAL IS AS TO WHETHER THE LD. CIT(A) WAS JUSTIFIED IN UPHOLDING THE DISALLOWANCE OF RS. 8,86 ,029/- TOWARDS BAD DEBT, IN THE FACTS AND CIRCUMSTANCES OF THE CASE. 6. THE BRIEF FACTS OF THIS ISSUE IS THAT THE LD. AO OBSERVED THAT THE ASSESSEE HAD CLAIMED BAD DEBT OF RS. 6.41 CRORES IN THE COMPUTATION OF T HE INCOME. THE ASSESSEE WAS ASKED TO PROVIDE THE DETAILS OF BAD DEBT AND PROVIDE EVIDENC ES THAT THE DEBTS HAD BEEN CREDITED IN THE ACCOUNTS OF THE ASSESSEE AS INCOME IN THE EARLI ER YEARS. THE LD. AO DISALLOWED THE CLAIM OF BAD DEBTS BY OBSERVING THAT THE ASSESSEE H AD NOT PROVIDED THE DETAILS OF INCOME OFFERED IN EARLIER YEARS IN RESPECT OF THE F OLLOWING THREE PARTIES: ANDREW YULE & CO. LTD. RS. 6,66,862/- AREVA T & D LTD. RS. 2,10,250/- GRIDCO RS. 8,917/- TOTAL RS. 8,86,029/- THIS ACTION OF THE LD. AO WAS UPHELD BY THE LD. CIT (A) FOR THE SAME REASON. AGGRIEVED THE ASSESSEE IS IN APPEAL BEFORE US ON THE FOLLOWIN G GROUNDS: 2. DISALLOWANCE OF RS. 8,86,029/- ON ACCOUNT OF BAD DE BT. ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN L AW, THE LD. CIT(APPEALS)-4, KOLKATA WAS WRONG IN CONFIRMING THE DISALLOWANCE OF THE CLAIM OF BAD DEBT AMOUNTING TO RS. 8,86,029.00 ON THE GROUND OF NON-F URNISHING OF ANY DETAIL AND ALSO NON-SUBSTANTIATION OF THE CLAIM INSPITE OF PRO DUCTION OF NECESSARY DOCUMENTS SHOWING THE IRRECOVERABLE DEBT. IT IS THE REFORE, PRAYED THAT THE LD. BENCH MAY KINDLY ALLOW THE CLAIM OF BAD DEBT AND SE T ASIDE THE ORDER THE LD. CIT(APPEALS)-4. 7. WE HAVE HEARD THE RIVAL SUBMISSIONS. WE FIND FRO M THE DETAILS SUBMITTED BY THE ASSESSEE BEFORE THE LOWER AUTHORITIES IN RESPECT OF EACH OF THE PARTIES AS UNDER: (I) ANDREW YULE CO. LTD. RS. 6,66,862/- IS OUTSTA NDING FROM 01.04.2004. THIS PARTY IS SUNDRY DEBTOR FOR THE ASSESSEE. 5 ITA NO.1322/KOL/2015 INDO NABIN PROJECTS LTD (FORMERLY INDO POWER PROJEC TSLTD) A.YR .2010-11 5 (II) AREVA T & D LTD.- RS. 2,10,250/- IS OUTSTANDIN G FROM FINANCIAL YEAR 2007-08 FOR THIS SUNDRY DEBTOR. (III) GRIDCO RS. 8,917/- IS OUTSTANDING FROM FINA NCIAL YEAR 2000-01. THE ASSESSEE STATED THAT M/S ANDREW YULE & CO. LTD. , CENTRAL GOVERNMENT UNDERTAKING HAD CLOSED THEIR PROJECT DIVISION. M/S GRIDCO IS A STATE GOVERNMENT UNDERTAKING, GOVERNMENT OF ORISSA. THE ASSESSEE FUR THER STATED THAT DESPITE THE EFFORTS TAKEN BY THE ASSESSEE TO RECOVER THIS SUNDRY DEBTOR DUES FROM THESE THREE PARTIES, THE ASSESSEE COULD NOT RECOVER THE SAME. ACCORDINGLY, THE SAID TRADE DEBTS WERE DULY WRITTEN OFF IN THE BOOKS OF ACCOUNTS OF THE ASSESSE E DURING THE YEAR UNDER CONSIDERATION BY DULY CREDITING THE BALANCE OUTSTANDING TO THE CO NCERNED PARTIES ACCOUNT (SUNDRY DEBTORS ACCOUNT). WE FIND LOT OF FORCE IN THE ARGU MENT OF THE LD. AR THAT THESE BALANCES WERE REFLECTED UNDER THE HEAD SUNDRY DEBTO RS IN THE BALANCE SHEET OF THE ASSESSEE AND FROM THE VERY FACT THAT THE SAME ARE S HOWN UNDER SUNDRY DEBTORS ITSELF GOES TO PROVE THAT THEY HAD EMANATED OUT OF SALES OF THE ASSESSEE AND HENCE, THE INCOME RELATABLE THEREON IN THE FORM OF SALES AND SERVICES HAD BEEN DULY OFFERED TO TAX IN THE EARLIER YEARS IN ACCORDANCE WITH SECTION 36(2) OF T HE ACT. RESPECTFULLY FOLLOWING THE DECISION OF THE HONBLE SUPREME COURT IN THE CASE O F TRF LIMITED REPORTED IN 323 ITR 397 (SC) AND IN VIEW OF THE FACT THAT THE ASSESSEE HAD DULY WRITTEN OFF THIS TRADE DEBTS BY CREDITING THE CONCERNED SUNDRY DEBTORS ACCOUNTS IN ITS BOOKS OF ACCOUNTS, WE DIRECT THE LD. AO TO DELETE THE DISALLOWANCE MADE TOWARDS BAD DEBTS. IN THE SUM OF RS. 8,86,029/- ACCORDINGLY GROUND NO. 2 RAISED BY THE ASSESSEE IS ALLOWED. 8. THE NEXT ISSUE TO BE DECIDED IN THIS APPEAL IS A S TO WHETHER THE LD. CIT(A) WAS JUSTIFIED IN CONFIRMING THE ADDITION MADE ON ACCOUN T OF SUNDRY CREDITORS TO THE TUNE OF RS. 17,71,820/- , IN THE FACTS AND CIRCUMSTANCES OF THE CASE. 9. DURING THE COURSE OF ASSESSMENT PROCEEDINGS, THE ASSESSEE FURNISHED THE DETAILS OF SUNDRY CREDITORS TOGETHER WITH NAMES AND ADDRESS O F THE PARTIES THEREON BEFORE THE LD. 6 ITA NO.1322/KOL/2015 INDO NABIN PROJECTS LTD (FORMERLY INDO POWER PROJEC TSLTD) A.YR .2010-11 6 AO. THE LD. AO SOUGHT TO VERIFY ONE SUCH PARTY M/S ANVIL CABLES PVT. LTD. (AMONG OTHERS), U/S 133(6) OF THE ACT. THE SAID PARTY DIRE CTLY FURNISHED THE CONFIRMATION BEFORE THE LD. AO. FROM THE SAME, THE LD. AO OBSERVED THAT THERE IS A DIFFERENCE IN CLOSING BALANCE OF RS. 17,71,820/- VIS--VIS THE BALANCE SH EET OF THE ASSESSEE IN ITS BOOKS. THE ASSESSEE IN RESPONSE TO THE SHOW CAUSE GIVEN BY THE LD. AO FURNISHED RECONCILIATION AS UNDER: CLOSING AMOUNT AS PER PARTY LEDGER - RS. 28,90,8 64/- ADD: BILL NO. 76 RAISED BY PARTY BUT NOT CONSIDERED IN ITS ACCOUNT - RS. 17,71,820/- CLOSING AMOUNT AS PER ASSESSEES LEDGER - RS. 4 6,62,684/- THE ASSESSEE ALSO REPLIED THAT THE ENTIRE PURCHASE DOCUMENTS IN THIS REGARD WERE ROUTED THROUGH BANK IN RESPECT OF LETTER OF CREDIT FACILIT IES (L/C FACILITY) AVAILED BY THE PARTY. SINCE, THE DOCUMENTS HAD BEEN RECEIVED THROUGH BANK S BY THE ASSESSEE, THE ASSESSEE PROCEEDED TO BOOK THE PURCHASES FOR RS. 17,71,820/- ON 30.03.2010 RELEVANT TO ASSESSMENT YEAR 2010-11 AND CREDITED THE PARTIES A CCOUNT TO THAT EXTENT. THE ASSESSEE FURTHER PLEADED THAT SINCE THESE MATERIALS WERE NOT ACTUALLY RECEIVED BY THE ASSESSEE, THE ASSESSEE HAD DULY REVERSED THESE PURCHASES DURING T HE FINANCIAL YEAR 2010-11 RELEVANT TO ASSESSMENT YEAR 2011-12 BY PASSING JOURNAL ENTRY IN ITS BOOKS ON 31.03.2011. THIS JOURNAL ENTRY GOES TO PROVE THAT THE ASSESSEE HAD R EVERSED THE PURCHASES AND ACCORDINGLY OFFERED THE INCOME TO THE TUNE OF RS. 17,71,820/- IN ASST YEAR 2011-12. THE LD AO HOWEVER, PROCEEDED TO BRING TO TAX THE DIFFERENCE I N PARTY BALANCES IN THE SUM OF RS 17,71,820/- IN THE ASSESSMENT. THE SAID ACTION OF THE LD. AO WAS UPHELD BY THE LD. CIT(A). AGGRIEVED, THE ASSESSEE IS IN APPEAL BEFORE US ON THE FOLLOWING GROUNDS: 3. DISALLOWANCE OF RS. 17,71,820/- ON ACCOUNT OF SUNDR Y CREDITORS ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN L AW, THE LD. CIT(APPEALS)-4, KOLKATA WAS WRONG IN CONFIRMING THE DISALLOWANCE OF RS. 17,71,820/- ON THE ALLEGED GROUND OF NON-SUBMISSION OF ANY CONFIRMATIO N OF THE PARTY WITHOUT UNDERSTANDING THE FACTS OF THE MATTER AND BASIC PRI NCIPLES OF DOUBLE ENTRY SYSTEM 7 ITA NO.1322/KOL/2015 INDO NABIN PROJECTS LTD (FORMERLY INDO POWER PROJEC TSLTD) A.YR .2010-11 7 OF BOOK-KEEPING. IT IS THEREFORE, PRAYED THAT THE L D. BENCH MAY KINDLY ALLOW THE CLAIM AND SET ASIDE THE ORDER OF THE LD. CIT(APPEAL S)-4. 10. WE HAVE HEARD THE RIVAL SUBMISSIONS. FROM THE MATERIAL AVAILABLE ON RECORD AND FROM THE SUBMISSIONS MADE BY THE LD. AR, WE ARE CON VINCED OF THE TREATMENT GIVEN BY THE ASSESSEE IN ITS BOOKS OF ACCOUNTS DURING THE AS SESSMENT YEAR 2010-11 I.E. THE YEAR UNDER CONSIDERATION AND IN THE IMMEDIATELY SUCCEEDI NG YEAR I.E ASST YEAR 2011-12. WE ARE IN AGREEMENT WITH THE ARGUMENT ADVANCED BY THE LD. AR THAT IF THIS ADDITION IS SUSTAINED IN ASSESSMENT YEAR 2010-11, THEN IT WOULD AMOUNT TO DOUBLE ADDITION OF THE VERY SAME AMOUNT AS ADMITTEDLY THE ASSESSEE HAD VOL UNTARILY OFFERED THE SUM OF RS. 17,71,820/- BY WAY OF REVERSAL OF THE PURCHASES IN ASST YEAR 2011-12. MOREOVER, WE FIND THAT THE LD. AO HAD SIMPLY DISREGARDED THE EXP LANATION OF THE ASSESSEE AND HAD PLACED MORE RELIANCE ON THE STATEMENT OF ACCOUNT SU BMITTED BY OTHER PARTY I.E. M/S ANVIL CABLE PVT. LTD OBTAINED U/S 133(6) OF THE ACT. THE ASSESSEE DULY EXPLAINED BY WAY OF RECONCILIATION BEFORE THE LD. AO ITSELF. WE FIND TH AT THIS IS A CASE WHEREIN THE OTHER PARTY M/S ANVIL CABLES PVT. LTD. HAVING MADE SALES TO THE ASSESSEE AND HAVING SENT ALL THE REQUISITE DOCUMENTS THROUGH BANK PURSUANT TO L/ C LIMITS, HAD NOT RECORDED THE SALES IN ITS BOOKS OF ACCOUNTS. INSTEAD OF PASSING ON OF THIS INFORMATION TO THE LD. AO OF THE SUPPLIER M/S ANVIL CABLES PVT. LTD FOR NECESSARY AC TION TO BE TAKEN IN ACCORDANCE TO LAW IN THE HANDS OF THE SAID SUPPLIER, THE LD.AO OF TH E ASSESSEE HAD ACCEPTED THE STATEMENT OF ACCOUNT OF THAT SUPPLIER AS SACROSANCT AND PROCE EDED TO MAKE ADDITION IN THE HANDS OF THE ASSESSEE BY DISBELIEVING THE RECONCILIATION STA TEMENT AND EXPLANATION GIVEN BY THE ASSESSEE. HENCE, IN THESE CIRCUMSTANCES, WE HAVE NO HESITATION IN DIRECTING THE LD. AO TO DELETE THE ADDITION MADE ON ACCOUNT OF SUNDRY CR EDITORS IN THE SUM OF RS. 17,71,820/- IN THE FACTS OF THE CASE. ACCORDINGLY, GROUND NO. 3 RAISED BY THE ASSESSEE IS ALLOWED. 11. THE LAST GROUND TO BE DECIDED IN THIS APPEAL IS WITH REGARD TO NON-GRANTING OF REBATE OF TAX PAID U/S 90/91 OF THE ACT TO THE TUNE OF RS. 12,90,662/-. THE ASSESSEE CLAIMED REBATE IN RESPECT OF TAXES PAID IN FULL U/S 90/91 O F THE ACT TO THE TUNE OF RS. 48,43,541/-. 8 ITA NO.1322/KOL/2015 INDO NABIN PROJECTS LTD (FORMERLY INDO POWER PROJEC TSLTD) A.YR .2010-11 8 THE LD. AO GRANTED REBATE ONLY TO THE EXTENT OF RS. 35,52,919/- IN THE ASSESSMENT AND DID NOT GIVE CREDIT FOR THE REMAINING SUM OF RS. 12 ,90,622/- IN THE ASSESSMENT. THE ASSESSEE HAD RAISED A SPECIFIC GROUND IN THIS REGAR D VIDE GROUND NO. 5 BEFORE THE LD. CIT(A) AND HAD ALSO FILED SUBMISSIONS BEFORE HIM. T HE LD. CIT(A) HAD NOT ADJUDICATED THIS GROUND AT ALL IN HIS ORDER EVEN THOUGH, THIS G ROUND IS ALSO REPRODUCED IN HIS ORDER. HENCE, WE DEEM IT FIT AND APPROPRIATE TO REMAND THI S ISSUE TO THE FILE OF THE LD. LD. CIT(A) FOR ADJUDICATION OF THE SAME ON MERITS AND B ASED ON THE EVIDENCES FILED BY THE ASSESSEE AND DISPOSE OFF THIS GROUND IN ACCORDANCE WITH LAW. ACCORDINGLY, GROUND NO. 4 RAISED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL P URPOSES. 12. THE GROUND NO. 5 IS GENERAL IN NATURE AND DOES NOT REQUIRE ANY SPECIFIC ADJUDICATION. 13. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS AL LOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE COURT ON 08.12.2017 SD/- SD/- [N.V. VASUDEVAN] [ M.BALAGANESH ] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED : 08.12.2017 SB, SR. PS COPY OF THE ORDER FORWARDED TO: 1. INDO NABIN PROJECTS LTD. (FORMERLY INDO POWER PR OJECTS LTD., 1582, RAJDANGA MAIN ROAD, SOUTH END CONCLAVE, 7 TH FLOOR, KOLKATA-700107. 2. DCIT, CIRCLE-10, KOLKATA, AAYAKAR BHAWAN, 3 RD FLOOR, P-7, CHOWRINGHEE SQUARE, KOLKATA- 700069. 3..C.I.T.(A)- , KOLKATA 4. C.I.T.- KOLKATA. 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER SENIOR PRIVAT E SECRETARY HEAD OF OFFICE/D.D.O., ITAT, KOLKATA BENCHE S