Anushree Finlease Pvt. Ltd, Kolkata V. ITO, WD-1(4), KOLKATA, Kolkata

ITA 1424/KOL/2016

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 1148 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 3 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-10-2017
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 12-06-2017
• Assessment Year: 2004-2005
• Appeal Filed On: 04-07-2016
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SAURAV KUMAR

Judgement Text

ITA NOS.1423&1424/KOL/2016-ANUSHREE FINLEASE PVT. L TD. A.Y.2002-03 & 2004-05 1 IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH SMC K OLKATA [BEFORE HONBLE SHRI J.SUDHAKAR REDDY, AM] ITA NOS.1423&1424//KOL/2016 ASSESSMENT YEARS : 2002-03 & 2004-05 ANUSHREE FINLEASE (P) LTD. VERSUS- I.T.O., WARD-1(4) KOLKATA KOLKATA (PAN: AABCA 5576 F) (APPELLANT) (RESPONDENT) FOR THE APPELLANT: SHRI SUBASH AGARWAL, ADVOCAT E FOR THE RESPONDENT: SHRI SAURAV KUMAR, ADDL. CIT DATE OF HEARING : 28.07.2017. DATE OF PRONOUNCEMENT : 31.10.2017. ORDER BOTH THESE APPEALS ARE FILED BY THE ASSESSEE DIREC TED AGAINST THE ORDERS OF THE COMMISSIONER OF INCOME TAX-(A)-I, KOLKATA RELATING TO A.Y. 2002-03 AND 2004-05 ON THE FOLLOWING GROUNDS :- ITA NO.1423/KOL/2016 A.Y.2002-03 1. FOR THAT THE LD. COMMISSIONER OF INCOME TAX (A) -L/KOLKATA HAS ERRED IN LAW AS WELL AS ON FACTS OF THE CASE IN CONFIRMING THE P ROTECTIVE ASPECT OF THE ASSESSMENT ON THE GROUND WHICH IS NOT CORRECT AS TH E APPELLANT ON THIS POINT HAS MADE ITS SUBMISSION. 2. FOR THAT THE LD. COMMISSIONER OF INCOME TAX (A)- I,KOL HAS ERRED IN LAW AS WELL AS ON FACTS OF THE CASE IN CONFIRMING THE ADDI TION OF RS. 10,820.00 BEING THE AMOUNT OF ALLEGED COMMISSION SAID TO BE EARNED ON T HE GROUNDS WHICH ARE NOT CORRECT, 3. FOR THAT THE LD. COMMISSIONER OF INCOME TAX (A)- I KOLKATA HAS ERRED IN LAW AS WELL AS ON FACTS OF THE CASE IN CONFIRMING THE A DDITION OF RS. 40,000.00 BEING THE AMOUNT OF CASH DEPOSITS INTO BANK ON THE GROUND S WHICH ARE NOT CORRECT. 4. FOR THAT THE APPELLANT CRAVES LEAVE TO ADDUCE, M ODIFY AND/OR ALTER THE GROUNDS AT OR BEFORE HEARING. ITA NOS.1423&1424/KOL/2016-ANUSHREE FINLEASE PVT. L TD. A.Y.2002-03 & 2004-05 2 ITA NO.1424/KOL/2016 A.Y.2004-05 1. FOR THAT THE LD. COMMISSIONER OF INCOME TAX (A) -I, KOLKATA HAS ERRED IN LAW AS WELL AS ON FACTS OF THE CASE IN CONFIRMING THE A SSESSMENT MADE U/S.143(3)/144 OF THE I.T.ACT 1961 ON THE GROUNDS WHICH ARE NOT CORRE CT. 2. FOR THAT THE LD. COMMISSIONER OF INCOME TAX (A)- I, KOL HAS ERRED IN LAW AS WELL AS ON FACTS OF THE CASE IN CONFIRMING THE JURISDICT ION OF THE LD. ASSESSING OFFICER IN PASSING ORDER ON THE GROUNDS WHICH ARE NOT CORRECT. 3. FOR THAT THE LD. COMMISSIONER OF INCOME TAX (A)- I, KOLKATA HAS ERRED IN LAW AS WELL AS ON FACTS OF THE CASE IN CONFIRMING THE ADDI TION OF RS. 47,000.00 BEING THE AMOUNT - ALLEGED COMMISSION SAID TO BE EARNED ON TH E GROUNDS WHICH ARE NOT CORRECT. 4. FOR THAT THE COMMISSIONER OF INCOME TAX (A)-I, K OL HAS ERRED IN LAW AS WELL AS ON FACTS OF THE IN CONFIRMING THE ADDITION OF RS. 1 6,20,000.00 BEING THE ALLEGED CASH DEPOSIT INTO BANK ON THE GROUNDS WHICH ARE NOT CORRECT. 5. FOR THAT THE LD. COMMISSIONER OF INCOME TAX (A)- I, KOL HAS ERRED IN FACTS OF THE CASE IN CONFIRMING THE PROTECTIVE ASPECT OF THE ASS ES WHICH ARE NOT CORRECT AS THE APPELLANT HAS MADE ITS SUBMISSION. 6. FOR THAT THE APPELLANT CRAVES LEAVE TO ADDUCE, M ODIFY AND/ OR ALTER THE GROUNDS AT OR BEFORE HEARING. 2. WHEN THE MATTER CAME UP BEFORE THIS BENCH ON 11.07.2017 THE FOLLOWING ORDER WAS PASSED. IT IS INDEED THAT THE ADDITION WHICH IS IN DISPUTE IN BOTH THE APPEALS HAS BEEN MADE ON PROTECTIVE BASIS. BOTH THE PARTIES ARE DIRE CTED TO FIND OUT AS TO UNDER WHICH CASE SUBSTANTIVE ADDITION HAS BEEN MADE AND W HAT IS THE PRESENT STATUS OF THE SAID CASE THE CASE WAS ADJOURNED TO 28.07.2017. 3. THE LD. DR SUBMITTED THAT HE COULD NOT COLLE CT THE REQUIRED INFORMATION. THE LD. AR SUBMITS THAT HE HAS NO INFORMATION AS HE IS HAND LING THIS CASE ONLY. IN CASE OF PROTECTIVE ASSESSMENT, THE SAME INCOME WOULD HAVE BEEN ADDED IN THE ASSESSMENT OF THE ASSESSEE IN WHOSE CASE SUBSTANTIVE ADDITION HAS BEEN MADE. IT IS WELL SETTLED THAT THE SAME INCOME CANNOT BE BROUGHT TO TAX IN THE HAN DS OF TWO ASSESSEES. THIS WOULD BE DOUBLE TAXATION. UNDER THE CIRCUMSTANCES, I AM O F THE CONSIDERED OPINION THAT THESE ADDITIONS SHOULD BE DELETED ON THE GROUND THA T THE SAME AMOUNT HAVE BEEN ADDED IN THE HANDS OF TWO ASSESSEES. AS WE ARE NOT BEING GIVEN THE REQUIRED INFORMATION ITA NOS.1423&1424/KOL/2016-ANUSHREE FINLEASE PVT. L TD. A.Y.2002-03 & 2004-05 3 DESPITE SPECIFIC DIRECTION, I DEEM IT FIT TO SET AS IDE THESE CASES TO THE FILE OF THE AO FOR FRESH ADJUDICATION. 4. IN THE RESULT BOTH THE APPEALS OF THE ASSESS EE ARE ALLOWED FOR STATISTICAL PURPOSES. O RDER PRONOUNCED IN THE COURT ON 31.10.2017. SD/- [ J.SUDHAKAR REDDY ] ACCOUNTANT MEMBER DATED : 31.10.2017. [RG SR.PS] COPY OF THE ORDER FORWARDED TO: 1.ANUSHREE FINLEASE (P)LTD., P-27, PRINCEP STREET, 3 RD FLOOR, KOLKATA-700072. 2. I.T.O., WARD-1(4), KOLKATA. 3. C.I.T.(A)- 1, KOLKATA 4. C.I.T-1, KOLKATA 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER, SENIOR PRIVATE SECRETARY HEAD OF OFFICE/D.D.O, ITAT KOLKATA BENCHES