Hooghly Jute Mills (Vizianagaram) Pvt. Ltd. , Kolkata V. ITO, Ward - 5(4), Kolkata , Kolkata

ITA 1532/KOL/2018

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 2616 (ITAT-KOLKATA)
• Duration Of Justice: 3 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-11-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 17-07-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SANKAR HALDER
• Assessee Lawyers: MIRAJ D. SHAH
• Section: 14A; 10

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA SMC BENCH, KOLKATA (BEFORE SRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER) ITA NO. 1532/KOL/2018 ASSESSMENT YEAR: 2014-15 HOOGHLY JUTE MILLS (VIZIANAGARAM) PVT. LTD...................APPELLANT 134/4, M.G. ROAD KOLKATA 700 007 [PAN : AACCH 2333 Q] VS. INCOME TAX OFFICER, WARD-5(4), KOLKATA................RESPONDENT APPEARANCES BY: SHRI MIRAJ D. SHAH, FCA, APPEARED ON BEHALF OF THE ASSESSEE. SHRI SANKAR HALDER, JCIT, SR. D/R. APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : OCTOBER 29 TH , 2018 DATE OF PRONOUNCING THE ORDER : NOVEMBER 9 TH , 2018 ORDER PER J. SUDHAKAR REDDY, AM :- THIS IS AN APPEAL FILED BY THE ASSESSEE DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)19, KOLKATA (HEREINAFTER THE LD. CIT(A)), PASSED U/S 250 OF THE INCOME TAX ACT, 1961 (HEREINAFTER THE ACT), DT. 04/06/2018, RELATING TO ASSESSMENT YEAR 2014-15. 2. AFTER HEARING RIVAL CONTENTIONS, I FIND THAT IT IS NOT IN DISPUTE THAT THE ASSESSEE HAS NO INCOME FROM DIVIDENDS WHICH IS EXEMPT U/S 10 OF THE ACT, DURING THE ASSESSMENT YEAR UNDER CONSIDERATION. UNDER THESE CIRCUMSTANCES, THERE CANNOT BE ANY DISALLOWANCE U/S 14A OF THE ACT, AS HELD BY THE HONBLE JURISDICTIONAL HIGH COURT IN THE CASE OF CIT VS. ASHIKA GLOBAL SECURITIES LTD. ITAT 100 OF 2014, GA 2122 OF 2014, JUDGMENT DT. 11/06/2018. HENCE, I DELETE THE DISALLOWANCE IN QUESTION AND ALLOW THIS APPEAL OF THE ASSESSEE. 3. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED. KOLKATA, THE 9 TH DAY OF NOVEMBER, 2018. SD/- [ J. SUDHAKAR REDDY ] ACCOUNTANT MEMBER DATED : 09.11.2018 {SC SPS} 2 ITA NO. 1532/KOL/2018 ASSESSMENT YEAR: 2014-15 HOOGHLY JUTE MILLS (VIZIANAGARAM) PVT. LTD COPY OF THE ORDER FORWARDED TO: 1. HOOGHLY JUTE MILLS (VIZIANAGARAM) PVT. LTD 134/4, M.G. ROAD KOLKATA 700 007 2 . INCOME TAX OFFICER, WARD-5(4), KOLKATA 3. CIT(A)- 4. CIT- , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER ASSISTANT REGISTRAR ITAT, KOLKATA BENCHES