ACIT, CC-XXIII, Kolkata, Kolkata V. M/s. JSIS Iron & Steel India Pvt. Ltd., Kolkata

ITA 1774/KOL/2010

• Counselvise Citation: [2011] 134 COUNSELVISE.COM (IT) 9383 (ITAT-KOLKATA)
• Duration Of Justice: 4 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 02-02-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2003-2004
• Appeal Filed On: 14-09-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PIYUSH KOLHE
• Assessee Lawyers: S L KOCHAR
• Section: 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH-B: KO LKATA [BEFORE HONBLE SHRI B.R. MITTAL, J.M. & HONBLE SH RI C.D. RAO, A.M] I.T.A. NO. 1774/KOL. /2010 ASSESSMENT YEAR : 2003-2004 ASSISTANT COMMISSIONER OF INCOME TAX, -VS.- JSI S IRON & STEEL INDIA PVT. LTD., CENTRAL CIRCLE-XXIII, KOLKATA. (PAN : AAACJ 8302 P) (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI PIYUSH KOLHE, SR. D.R. RESPONDENT BY : SHRI S.L. KOCHAR, A.R. O R D E R PER SHRI B. R. MITTAL, JUDICIAL MEMBER : THE DEPARTMENT HAS FILED THIS APPEAL FOR THE ASSES SMENT YEAR 2003-04 AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME-TAX (APPEALS), CENTRA L-1, KOLKATA DATED 29.06.2010 ON THE FOLLOWING GROUND :- ON THE FACTS AND CIRCUMSTANCES OF THE CASE, THE LD . CIT(A.) ERRED IN DELETING THE DISALLOWANCE OF LOSS OF RS.81,29,470/- AS CLAIMED BY THE ASSESSEE DUE TO THE REASON THAT NO EVIDENCE OR DETA ILS IN SUPPORT OF THE CLAIMS MADE IN THE RETURN WERE PRODUCED BEFORE THE ASSESSING OFFICER DURING THE REMAND PROCEEDINGS. 2. AT THE TIME OF HEARING, THE LD. D.R. RELIED ON T HE ORDER OF ASSESSING OFFICER. HOWEVER, THE LD. A.R. SUBMITTED THAT THE COMMISSIONER OF INC OME-TAX (APPEALS) HAD DELETED THE ADDITION BY CONSIDERING THE REMAND REPORT OF THE ASSESSING O FFICER, WHEREIN THE ASSESSING OFFICER HAS STATED THAT HE HAS VERIFIED THE BOOKS OF ACCOUNTS A ND OTHER DOCUMENTS IN SUPPORT OF CLAIM MADE IN THE RETURN WITH REFERENCE TO THE AUDITED STATEME NTS OF ACCOUNTS FURNISHED. THE LD. D.R. DID NOT DISPUTE THE ABOVE CONTENTION OF THE LD. A.R. 3. WE OBSERVE THAT THE ASSESSING OFFICER MADE THE S AID ADDITION WHILE MAKING THE ASSESSMENT UNDER SECTION 144 OF THE INCOME TAX ACT ON THE GROUND THAT THE ASSESSEE COULD NOT FURNISH THE BOOKS OF ACCOUNTS WITH BILLS, VOUCHERS, ETC. HOWEVER, THE ASSESSEE FILED THE REQUISITE DETAILS BEFORE THE LD. COMMISSIONER OF INCOME-TAX ( APPEALS) AND THE LD. COMMISSIONER OF INCOME-TAX (APPEALS) SOUGHT REMAND REPORT FROM THE ASSESSING OFFICER. WE OBSERVE THAT THE ITA NO.1774/KOL./2010 2 ASSESSING OFFICER IN HIS REMAND REPORT STATED THAT THE LOSS CLAIMED BY THE ASSESSEE WAS EXAMINED WITH REFERENCE TO THE AUDITED STATEMENTS O F ACCOUNTS FURNISHED ALONG WITH THE RETURN WITH RELEVANT BOOKS OF ACCOUNTS AND OTHER DOCUMENTS . THE ASSESSING OFFICER HAS NOT POINTED OUT ANY DISCREPANCY. THEREFORE, WE OBSERVE THAT THE LD. COMMISSIONER OF INCOME-TAX (APPEALS) DELETED THE DISALLOWANCE OF LOSS MADE BY THE ASSESS ING OFFICER. IN THE ABSENCE OF ANY OTHER FACTS BROUGHT BY THE DEPARTMENT, WE DO NOT FIND ANY INFIRMITY IN THE ORDER OF LD. COMMISSIONER OF INCOME-TAX (APPEALS). HENCE, WE UPHOLD HIS ORDER AND REJECT THE GROUND OF APPEAL TAKEN BY THE DEPARTMENT. 4. IN THE RESULT, THE APPEAL FILED BY THE DEPARTMEN T IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 02.02. 2011. SD/- SD/- [ C. D. RAO ] [ B.R. MITTAL ] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 02/ 02/ 2011 COPY OF THE ORDER FORWARDED TO: 1. M/S. JSIS IRON & STEEL INDIA PVT. LTD., 20, B.T. RO AD, KOLKATA- 2. 2 ACIT, CENTRAL CIRCLE-XXIII, 18, RABINDRA SARANI, KO LKATA-1 3. CIT, KOLKATA- 4. CIT(A)- ,KOLKATA 5. DR, KOLKATA BENCHES, KOLKATA (TRUE COPY) BY ORDER DEPUTY REGISTRAR I.T.A.T., KOLKATA. LAHA, SR. P.S.