DCIT, Cir-5(1), Kolkata, Kolkata V. M/s Shree Capital Services Ltd., Kolkata

ITA 2004/KOL/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 1834 (ITAT-KOLKATA)
• Duration Of Justice: 6 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-04-2017
• Appeal Filed By: Department
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 18-10-2016
• Court: TRIBUNAL
• Department Lawyers: SAURABH KUMAR
• Section: 14A; 115JB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC, BE NCH KOLKATA BEFORE SHRI J.SUDHAKAR REDDY, AM ./ ITA NO.2004/KOL/2016 ( / ASSESSMENT YEAR:2012-2013) DCIT, CIR-5(1), KOLKATA VS. M/S SHREE CAPITAL SERVI CES LTD, 21, STRAND ROAD, KOLKATA-1 ./ ./PAN/GIR NO. : AAGCS 5082 D ( /APPELLANT ) .. ( / RESPONDENT ) /REVENUE BY : SHRI SAURABH KUMAR, ADDL.CIT /ASSESSEE BY: SH.AMIT AGARWAL ADVOCATE / DATE OF HEARING : 12/04/2017 /DATE OF PRONOUNCEMENT 28/04/2017 / O R D E R THIS IS AN APPEAL FILED BY THE REVENUE DIRECTED AGA INST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-2, KOLKATA FOR THE ASSESSMENT YEAR 2012-13. 2. THE SOLE ISSUE THAT IS DISPUTED BY THE REVENUE, IS AS TO WHETHER THE DISALLOWANCE MADE UNDER SECTION 14 A OF THE I T ACT 1961 (ACT) READ WITH RULE 8D OF THE INCOME TAX RULES, HAS TO BE CONSIDER ED WHILE COMPUTING BOOK PROFITS UNDER SECTION 115 JB OF THE ACT. 3. ASSESSING OFFICER, IN HIS ORDER PASSED UNDER SEC TION 143(3), WHILE COMPUTING THE PROFITS UNDER SECTION 115JB OF THE AC T CONSIDERED AND ADDED THE DISALLOWANCE UNDER SECTION 14A READ WITH RULE 8D OF THE ACT. ON APPEAL THE 1 ST APPELLATE AUTHORITY DELETED THIS ADJUSTMENT BY APP LYING THE DECISION OF JURISDICTIONAL TRIBUNAL IN THE CASE OF INTEGRATED GOLD MINING LTD VERSUS DCIT (ITA NO. 1146/KOL/2012 DATED 30.11. 2015) AND OTHER DECISIONS. THE LD. DRP DID NOT CITE ANY CONTRARY DE CISIONS. ITA NO.2004/16 M/S SHREE CAPITAL SERVICES LTD. 2 4. IN VIEW OF THE ABOVE DISCUSSION, RESPECTFULLY FO LLOWING THE ORDERS OF THE COORDINATE BENCH OF THE TRIBUNAL ON THE VERY SA ME ISSUE CITED BY THE LD. CIT, I UPHOLD HIS ORDER AND DISMISS THIS APPEAL OF REVENUE. 5. IN THE RESULT THE APPEAL OF REVENUE IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON THIS 28/04 /2017. SD/ - (J. SUDHAKAR REDDY) / ACCOUNTANT MEMBER /KOLKATA ; $% DATED 28/04/2017 & ()* /PRAKASH MISHRA , SR.PS. / COPY OF THE ORDER FORWARDED TO : / BY ORDER, ( ASSTT. REGISTRAR) $ % , / ITAT, 1. / THE APPELLANT-DCIT, CIR-5(1),KOLKATA 2. / THE RESPONDENT.-M/S SHREE CAPITAL SERVICES LTD. 3. 4 ( ) / THE CIT(A), KOLKATA. 4. 4 / CIT 5. 56 7 8 , 8 , / DR, ITAT, KOLKATA 6. 7 9 / GUARD FILE. 5 //TRUE COPY//