DCIT, Circle - 11, Kolkata, Kolkata V. M/s. Century Plyboard (I) Ltd., Kolkata

ITA 1727/KOL/2010

• Counselvise Citation: 172723514 RSA 2010
• Duration Of Justice: 8 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-05-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 11-05-2011
• Assessment Year: 2007-2008
• Appeal Filed On: 06-09-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P C NAYAK
• Assessee Lawyers: R KUMAR

Judgement Text

, , , , , , ,, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH : KOLKATA [ , ,, , , ,, , , !' !' !' !' ] [BEFORE HONBLE SMT. DIVA SINGH , JM & HONBLE SRI AKBER BASHA, AM] # # # # / I.T.A NO. 1727/KOL/2010 $% &' $% &' $% &' $% &'/ // / ASSESSMENT YEAR : 2007-08 DY. COMMISSIONER OF INCOME TAX -VS.- M /S. CENTURY PLYBOARD (I) LTD. CIRCLE-11, KOLKATA. KOLKATA [PAN : AABCC 1682 J] (*+ /APPELLANT ) (-.*+/ RESPONDENT ) *+ / FOR THE APPELLANT : / /SHRI P. C. NAYAK -.*+ / FOR THE RESPONDENT : / / SHRI R. KUMAR ! /O R D E R [ , !' !' !' !' ] PER AKBER BASHA, AM THE DEPARTMENT HAS FILED THIS APPEAL FOR ASSESSMEN T YEAR 2007-08 AGAINST ORDER OF CIT(A)- XII, KOLKATA DATED 29.06.2010, ON THE FOLLOWING GRO UND :- ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE, LD. CIT(A) HAS ERRED IN TREATING THE INCOME OF RS.11,04,298/- AS LONG TERM CAPITAL GAIN INSTEAD OF TREATING IT AS INCOME FROM BUSINESS. 2. AT THE TIME OF HEARING BEFORE US BOTH THE PARTIE S FAIRLY CONSIDERED THAT THE ISSUE IS COVERED BY THE EARLIER ORDER OF I.T.A.T., KOLKATA IN ASSESSEE S OWN CASE IN FOR ASSESSMENT YEAR 2005-06 IN ITA NO.552/KOL/2009 & NO.1060/KOL/2009. LD. COUNSEL APP EARING ON BEHALF OF THE ASSESSEE HAS ALSO FILED COPY OF THE SAID ORDER IN ASSESSEES OWN CASE . 3. AFTER CONSIDERING THE RIVAL SUBMISSIONS AND PERU SED THE MATERIAL AVAILABLE ON RECORD, IT IS OBSERVED THAT CIT (A) HAS DIRECTED TO TREAT THE INC OME OF RS.11,04,298/- AS LONG TERM CAPITAL GAIN INSTEAD OF TREATING IT AS INCOME FROM BUSINESS. KEE PING IN VIEW OF THE FACT THAT CIT (A) HAS FOLLOWED THE TRIBUNALS ORDER IN ASSESSEES OWN CASE IN ITA NO. 552/KOL/2009 & NO.1060/KOL/2009 FOR ITA NO. 1727/KOL/2010 2 ASSESSMENT YEAR 2005-06, ORDER DATED 04.09.2009. HE NCE, WE FIND NO INFIRMITY IN THE ORDER OF CIT (A) IN DIRECTING THE ASSESSING OFFICER TO TREAT THE LONG TERM CAPITAL GAIN AS SHOWN/CLAIMED BY THE ASSESSEE. ACCORDINGLY, WE UPHOLD THE SAME. THE GROU ND RAISED BY THE REVENUE IS DISMISSED. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSE D. ! 0 1$ 2 3 4' ORDER PRONOUNCED IN THE OPEN COURT ON 11.05 .2011. SD/- SD/- [ , ] [ , !' ] [ DIVA SINGH ] [ AKB ER BASHA ] JUDICIAL MEMBER ACCOUNTANT M EMBER 4' / DATED : 11TH MAY, 2011. ! 5 -6 7!6&8 - COPY OF THE ORDER FORWARDED TO: 1. ! /APPLICANT- DY. COMMISSIONER OF INCOME TAX, CIRCL E-11, P-7, CHOWRINGHEE SQUARE, KOLKATA-70 0 069. 2 -.*+ / RESPONDENT : M/S. CEENTURY PLYBOARD (I) LTD., 6, LYONS RANGE, KOLKATA-700 001. . 3. $ / CIT 4. $ ( )/ CIT(A) 5. 92 -$ / DR, KOLKATA BENCHES, KOLKATA [ .6 - / TRUE COPY] ! $1 / BY ORDER : / ; /DEPUTY/ASSTT. REGISTRAR . [KKC <= $>; ? /SR.PS]