M/s. Indivar Realtors Private Limited , Kolkata V. ITO, Ward - 1(2), Kolkata

ITA 1968/KOL/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 1433 (ITAT-KOLKATA)
• Duration Of Justice: 6 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2013-2014
• Appeal Filed On: 13-09-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: C J SINGH JCITSRDR
• Keywords: Earning of tax free income
• Section: 143(3); 14A; 147

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.1968/KOL/2018 ASSESSMENT YEAR:2013-14 M/S INDIVAR REALTORS PVT. LTD., 2B, GRANT LANE, 8 TH FLOOR, R.NO.806, KOLKATA-700 012 [ PAN NO.AACCI 4802 M ] / V/S . INCOME TAX OFFICER, WARD-1(2), AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, 4 TH FLOOR, KOLKTA-69 /APPELLANT .. /RESPONDENT /BY APPELLANT NONE /BY RESPONDENT SHRI C.J.SINGH, JCIT-SR-DR /DATE OF HEARING 06-03-2019 /DATE OF PRONOUNCEMENT 22-03-2019 /O R D E R THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2013-14 , ARISES AGAINST THE COMMISSIONER OF INCOME-TAX (APPEALS)-1, KOLKATAS O RDER DATED 18.06.2018 PASSED IN CASE NO.164067661270416/CIT(A)-1/KOL//WARD-1(2)/201 6-17, INVOLVING PROCEEDINGS U/S. 147 R.W.S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. 2. I GIVEN MY THOUGHTFUL CONSIDERATION TO ASSESSEE S PLEADING CHALLENGING CORRECTNESS OF BOTH LOWER AUTHORITIES ACTION MAKING U/S 14A R.W.S 8D DISALLOWANCE OF 2,89,550/- IN THE NATURE OF ADMINISTRATIVE EXPENDIT URE. MR. SINGH FAILS TO DISPUTE THE CLINCHING FACT THAT ASSESSEE HAS NOT DERIVED ANY EX EMKPT INCOME IN THE IMPUGNED ASSESSMENT YEAR AS PER ASSESSMENT ORDER DATED 31.03 .2016. THE HON'BLE JURISDICTIONAL HIGH COURTS DECISION IN CIT VS. M/S ASHIKA GLOBAL SECURITIES LTD ITAT 100 OF 2014 GA NO.2122 OF 2014 DECIDED ON 11.06.2018 HOLDS THAT SEC. 14AA R.W.S. 8D ITA NO.1968/KOL/2018 A.Y. 2013-14 M/S INDIVAR REALTORS PVT. LTD. VS. ITO WD-1(2) KOL. PAGE 2 DISALLOWANCE PROVISION DOES NOT APPLY IN ABSENCE OF ANY EXEMPT INCOME DERIVED AT THE ASSESSEE BEHEST IN THE RELEVANT PREVIOUS YEAR. I TH EREFORE DELETE THE IMPUGNED DISALLOWANCE FOR THIS PRECISE REASON ALONE. 3. THIS ASSESSEES APPEAL IS ALLOWED IN ABOVE TERMS . ORDER PRONOUNCED IN OPEN COURT ON 22/03/2019 SD/- (S.S. GODARA) JUDICIAL MEMBE R KOLKATA, *DKP/SR.PS - 22/03/2019 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-M/S INDIVAR REALTORS PVT. LTD. 2B GRANT LANE, 8 TH FLOOR, R.NO.806, K OLKAT-12 2. /RESPONDENT-ITO WD-1(2), AAYAKAR BHAWAN, P-7, CHOWR INGHEE SQ. KOL-69 3. ' % / CONCERNED CIT 4. % - / CIT (A) 5. & ))' , ' / DR, ITAT, KOLKATA 6. + / GUARD FILE. BY ORDER/ , /TRUE COPY/ ',