M/s Gurudayal Gangabux Pvt. Ltd., Kolkata V. DCIT, Circle -1, Kolkata

ITA 1370/KOL/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 5955 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 1 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-07-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 22-06-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S DASGUPTA
• Assessee Lawyers: MANOJ KATARUKA
• Keywords: Additional evidence
• Section: 143(3); 142(1)

Judgement Text

, B , IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH B KOLKATA BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI, M. BALAGANESH, ACCOUNTANT MEMBER ITA NO. 1370 / KOL / 20 16 ASSESSMENT YEAR :2008-09 M/S GURUDYAL GANGABUX PVT. LTD., 12, INDIA EXCHANGE PLACE, 1 ST FLOOR, JUTE HOUSE , KOLKATA-700001 [ PAN NO.AABCG 1190 M ] V/S . DCIT, CIRCLE-1, P-7, CHOWRINGHEE SAQUARE, AAYAKAR BHAVAN, KOLKATA-69 /APPELLANT .. / RESPONDENT /BY APPELLANT SHRI MANOJ KATARUKA, ADVOCATE /BY RESPONDENT SHRI S. DASGUPTA, ADDL. CIT-DR /DATE OF HEARING 23-07-2018 /DATE OF PRONOUNCEMENT 31-07-2018 / O R D E R PER S.S.GODARA, JUDICIAL MEMBER:- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2008-09 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-23 , KOLKATAS ORDER DATED 01.03.2016 PASSED IN CASE NO.142/CIT(A)-23/CI R-1/14-15 UPHOLDING ASSESSING OFFICERS ACTION DISALLOWING / ADDING INTEREST OF BANK LOAN, EXCESS INTEREST DEBITED, PRIOR PERIOD EXPENSE S, ADDITION OF DEMAT CHARGES, SECURITY TRANSACTION TAX, LEASE AGREEMENT, STAMP CHARGES, REPAIR AND MAINTENANCE CHARGES, DEMURRAGE CHARGES, LORRY HIRE CHARGES, OCEAN FREIGHT CHARGES, PORT CHARGES, CUSTOMS DUTY, GOODS INSPECTION CHARGES, BROKERAGE AND COMMISSION, CLEARING AGENT C HARGES, FOREIGN ITA NO.1370/KOL/2016 A.Y. 2008 -09 M/S GURUDAYAL GAANGABUX PVT. LTD. VS. DCIT , CIR-1, KOL. PAGE 2 EXCHANGE CONTRACT GAIN AND ADDITION ON ACCOUNT OF LONG TERM CAPITAL GAINS TREATED AS BUSINESS PROFITS INVOLVING CORRESP ONDING SUMS OF 12,66,447/-, 81,680/-, 56,950/-, 554/-, 2,008/-, 28,892/-, 10,685/-, 12,42,429/-, 1,63,093/- & 15,429/-; RESPECTIVELY MADE IN ASSESSMENT ORDER DATED 31.12.2010, INVOLVING PROCEE DINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. WE NOTICE AT THE OUTSET THAT CIT(A)S DETAILED A DJUDICATION IN PAGE 11 OF THE LOWER APPELLATE ORDER REJECTS ASSESSEES RELEVANT CORRESPONDING DETAILS FILED DURING THE COURSE OF LO WER APPELLATE PROCEEDINGS MAINLY ON THE GROUND THAT THEY ARE NOT ADMISSIBLE AS ADDITIONAL EVIDENCE UNDER RULE 46A OF THE INCOME TA X RULES, 1962. THE INSTANT TAXPAYERS VOLUMINOUS RECORDS PERTAINING TO ALL THE ABOVE INSTANT ISSUES HAVE BEEN LEFT AS NOT CONSIDERED DURING THE COURSE OF LOWER APPELLATE PROCEEDINGS. 3. LEARNED COUNSEL REPRESENTING ASSESSEE HAS PREPAR ED A DETAILED CHART OF ALL THE ABOVE ISSUES VIS--VIS THE RELEVAN T DETAILS FILES QUA ALL THE SEVEN ISSUES RAISED ON MERITS IN THE INSTANT APPEAL . WE FIND THAT THE ASSESSING OFFICERS SCRUTINY NOTICE RAISING QUERIES QUA THE SAID ISSUES ARE AT PAGES 443 AND 444 OF THE PAPER BOOK COMPRISI NG HIS NOTICE U/S. 142(1) DATED 06.09.2010. THE ASSESSEE PLACED ALL OF ITS DETAILS AVAILABLE ON RECORD I.E. AT PAGES 447, 446, 445, 446-450 & 44 8 CORRESPONDING TO ALL THE ABOVE ISSUES AS COMPILED IN THE PAPER BOOK. LEARNED DEPARTMENTAL REPRESENTATIVE IS VERY FAIR IN NOT DIS PUTING THIS FACTUAL POSITION INDICATING THE ASSESSEE TO HAVE PLACED ON RECORD THE SAID DETAILS VERY WELL BEFORE THE ASSESSING OFFICER DURI NG THE COURSE OF SCRUTINY. IT THEREFORE TRANSPIRES THAT THE CIT(A) H AS ERRED IN TREATING THE ITA NO.1370/KOL/2016 A.Y. 2008 -09 M/S GURUDAYAL GAANGABUX PVT. LTD. VS. DCIT , CIR-1, KOL. PAGE 3 VERY DETAILS ALREADY FORMING PART OF ASSESSMENT REC ORDS TO BE ADDITIONAL EVIDENCE NOT ADMISSIBLE UNDER RULE 46A OF THE INCOM E TAX RULES, 1962. WE THEREFORE DEEM IT APPROPRIATE THAT THE ASSESSEE DESERVES ONE MORE INNINGS BEFORE CIT(A) ON ALL THESE ISSUES FOR AFRES H ADJUDICATION AS PER LAW AFTER AFFORDING SUFFICIENT OPPORTUNITIES OF HEA RING IN CONSEQUENTIAL PROCEEDINGS. THE INSTANT LIS THEREFORE STANDS RESTORED BACK TO THE CIT(A). 4. THIS ASSESSEES APPEAL IS ACCEPTED FOR STATISTIC AL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT 31/07/2018 SD/- SD/- ( %) (' %) (M.BALAGANESH) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) KOLKATA, *DKP, SR.P.S (- 31 / 07 /201 8 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-M/S GURUDAYAL GANGABUX PVT. LTD., 12, IN DIA EXCHANGE PLACE, 1ST FLOOR JUTE HOUSE , KOLKATKA-001 2. /RESPONDENT-DCIT, CIR-1, P-7, CHOWRINGHEE SQ. AAYAK AR BHAVAN, KOLKATA-69 3. 3 4 / CONCERNED CIT KOLKATA 4. 4- / CIT (A) KOLKATA 5. 7 ''3, 3, / DR, ITAT, KOLKATA 6. < / GUARD FILE. BY ORDER/ , /TRUE COPY/ SR. PRIVATE SECRETARY, HEAD OF OFFICE/DDO 3,