ACIT, Circle - 39, Kolkata, Kolkata V. M/s. Senco Jewellery Palace, Kolkata

ITA 1966/KOL/2010

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 75103 (ITAT-KOLKATA)
• Duration Of Justice: 3 year(s) 5 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-03-2014
• Appeal Filed By: Department
• Bench Allotted: C
• Next Hearing Date: 31-03-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 21-10-2010
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH C , KOLKATA [BEFORE HONBLE SRI SHAMIM YAHYA, AM & HONBLE SR I GEORGE MATHAN, JM] ITA NO.1963/KOL/2010 ASSESSMENT YEAR : 2005-06 ( APPELLANT ) (RESPONDENT) A.C.I.T., CIRCLE-39, -VS- M/S.SENCO JEWELLERY H OUSE, KOLKATA KOLKATA (PAN:AAKFS 4237 R) ITA NO.1966/KOL/2010 ASSESSMENT YEAR : 2006-07 ( APPELLANT ) (RESPONDENT) A.C.I.T., CIRCLE-39, -VS- M/S.SENCO JEWELLERY P ALACE, KOLKATA KOLKATA (PAN AABFT 5439 P) FOR THE APPELLANT SHRI A.K.SINGH, CIT, SR.DR FOR THE RESPONDENT SHRI VIGYANESHWAR NATH .DATTA, ADVOCATE DATE OF HEARING : 24.03.2014 DATE OF PRONOUNCEMENT : 26. 03.2014. ORDER PER BENCH ITA NO1963/KOL/2010 IS AN APPEAL FILED BY THE REVEN UE AGAINST THE ORDER OF LD. C.I.T.(A)- IV, KOLKATA IN APPEAL NO.296/CIT(A)- IV/08-09 DATED 24.03.2010 FOR ASSESSMENT YEAR 2005-06. ITA NO.1966/KOL/2010 IS AN APPEAL FILED BY THE REVENUE AGAINST THE ORDER OF LD. C.I.T.(A)- IV, KOLKATA IN APPEAL NO.293/CIT(A)-IV/08-09 DATED 24.03.2010 FOR ASSESSMENT YEAR 2006-07. 2. SHRI A.K.SINGH, CIT, SR.DR REPRESENTED ON BEHAL F OF THE REVENUE AND SHRI VIGYANESHWAR NATH.DATTA, ADVOCATE REPRESENTED ON BEHALF OF THE ASSESSEE. 3. IN ITA NO.1963/KOL/2010 OF THE REVENUES APPEAL THERE ARE TWO ISSUES. THE FIRST ISSUE BEING AGAINST THE ORDER OF LD. CIT(A) I N ALLOWING RELIEF IN RESPECT OF THE ADDITION MADE ON ACCOUNT OF REFINING LOSS AND THE S ECOND ISSUE BEING AGAINST THE ACTION OF LD. CIT(A) IN DELETING THE ADDITION MADE ON ACCOUNT OF MANUFACTURING LOSS. ITA NO.1963/KOL/2010 & ITA.NO.1966/KOL/ 2010 M/S.THE SEN CO JEWELLERY PALACE A. YRS.2005-06 & 2006-07 2 IN ITA NO.1966/KOL/2010 OF THE REVENUES APPEAL THE REVENUE HAS CHALLENGED THE ACTION OF THE LD. CIT(A) IN DELETING THE ADDITION M ADE ON ACCOUNT OF REFINING LOSS. AS THE ISSUES IN BOTH THE APPEALS ARE COMMON AND AS IT RELATES TO THE SAME ASSESSEE THESE TWO APPEALS ARE DISPOSED OF BY THIS COMMON ORDER. 4. AT THE TIME OF HEARING IT WAS SUBMITTED BY THE L D. AR ON BEHALF OF THE ASSESSEE THAT THE ISSUES IN BOTH THE APPEALS ARE SQUARELY CO VERED BY THE DECISION OF THE COORDINATE BENCH OF THIS TRIBUNAL IN ASSESSEES OWN CASE IN ITA NO.1575/KOL/2007 AND C.O.NO.60/KOL/2007 FOR A.YR.2003-04. IT WAS THE SUBMISSION THAT THE LD. CIT(A) HAD DELETED THE ADDITIONS IN RESPECT OF BOTH THE AP PEALS BY FOLLOWING THE DECISION OF THE COORDINATE BENCH IN ASSESSEES OWN CASE REFERRE D TO SUPRA. 5. IN REPLY THE LD. DR VEHEMENTLY SUPPORTED THE ORD ER OF AO. 6. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. AS IT IS NOTICED THAT THE ISSUES IN BOTH THE APPEALS ARE SQUARELY COVERED BY THE DECISI ON OF COORDINATE BENCH OF THIS TRIBUNAL REFERRED TO SUPRA IN ASSESSEES OWN CASE A ND AS IT IS NOTICED THAT THE LD. CIT(A) HAS DECIDED THE ISSUE IN BOTH THE APPEALS IN FAVOUR OF THE ASSESSEE BY FOLLOWING THE DECISION OF THE COORDINATE BENCH OF T HIS TRIBUNAL IN ASSESSEES OWN CASE AND AS THE REVENUE HAS NOT BEEN ABLE TO DISLOD GE THIS FINDINGS WE ARE OF THE VIEW THAT THE FINDINGS OF THE LD. CIT(A) ON THE ISSUES I N BOTH THE APPEALS ARE ON A RIGHT FOOTING AND DO NOT CALL FOR ANY INTERFERENCE. 7. IN THE RESULT BOTH THE APPEALS OF THE REVENUE A RE DISMISSED. ORDER PRONOUNCED IN THE COURT ON 16.03.2014. SD/- SD/- [SHAMIM YAHYA] [ GEORGE MATHAN ] ACCOUNTANT MEMBER JUDICIAL MEMBER DATE: 26.03.2014. R.G.(.P.S.) ITA NO.1963/KOL/2010 & ITA.NO.1966/KOL/ 2010 M/S.THE SEN CO JEWELLERY PALACE A. YRS.2005-06 & 2006-07 3 COPY OF THE ORDER FORWARDED TO: 1. M/S.SENCO JEWELLERY HOUSE, 170/2, B.B.GANGULY STREE T, KOLKATA-700012. 2 M/S.SENCO JEWELLERY PALACE, 199, B.B.GANGULY STREET , KOLKATA-700012. 3 . A.C.I.T., CIRCLE-39, KOLKATA 4. CIT(A)-IV, KOLKATA 5. CIT - KOLKATA. 6. CIT-DR, KOLKATA BENCHES, KOLKATA TRUE COPY, BY ORDER, DEPUTY /ASST. REGISTRAR , ITAT, KOLKATA BENCHES