M/s. Artline Financial Management Pvt. Ltd., , Kolkata V. ITO, Ward - 14(3), , Kolkata

ITA 2129/KOL/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 4341 (ITAT-KOLKATA)
• Duration Of Justice: 7 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 07-03-2019
• Assessment Year: 2014-2015
• Appeal Filed On: 09-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: C J SINGH CIT LD
• Keywords: Earning of tax free income
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH : KOLKATA [BEFORE HONBLE SHRI S.S. GODARA, JM ] I .T . A NO. 2129/KOL/2018 A.Y 2014 - 15 M/S. ARTLINE FINANCIAL MANAGEMENT V/S. I.T.O., WARD 14(3), KOLKATA PVT. LTD. PAN: AAGCA 8252K (APPELLANT) (RESPONDENT) FOR THE APPELLANT : NONE APPEARED FOR THE RESPONDENT : SHRI C.J. SINGH, CIT, LD.DR DATE OF HEARING : 07 - 03 - 2019 DATE OF PRONOUNCEMENT: 10 - 0 5 - 2019 ORDER SHRI S.S. GODARA, JM : 1. THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 20 1 4 - 15 ARISE S AGAINST THE CIT(A) , 1 4 , KOLKATA S ORDER DATED 26 - 07 - 2018 PASSED IN CASE NO . 10274/CIT(A) - 14/WD - 14(3)/2016 - 17 INVOLVING PROCEEDINGS U/S 143(3) OF THE I.T ACT , 1961 (IN SHORT ACT) . HEARD LEARNED DEPARTMENTAL REPRESENTATIVE. CASE FILE PERUSED. 2. SHRI C.J. SINGH, CIT, LD.DR STRONGLY SUPPORTED THE LOWER AUTHORITIES ACTION IN MAKING DISALLOWANCE U/S. 14A/R.W.R 8D OF THE I.T RULES, 1962. IT TRANSPIRES AT THE OUTSET THAT ASSESSE E HAS NOT DERIVED ANY EXEMPT INCOME. THE HONBLE JURISDICTIONAL HIGH COURTS DECISION IN ASHIKA GL OBAL LOGISTIC SECURITY LTD., GA NO. 2122 OF 2014 DT. 11. 06.2018 H OLDS THAT THE IMPUGNED IMPUGNED DISALLOWANCE DOES NOT APPLY IN ABSENCE OF ANY EXEMPT INCOME. I THEREFORE DELETE THE IMPUGNED DISALLOWANCE AS MADE ON THIS COUNT ALONE . 2 ITA NO. 2129/KOL/2018 M/S. ARTLINE FINANCIAL MANAGEMENT P.LTD 2 ITA NO. 2129/KOL/2018 M/S. ARTLINE FINANCIAL MANAGEMENT P.LTD 3 . TH IS ASSESSEES APPEAL IS ALLOW ED . ORDER PRONOUNCED IN THE COURT ON 10 - 05 - 2019 SD/ - [ S.S.GODARA ] JUDICIAL MEMBER DATED : 10 - 05 - 2019 **PRADIP, SR. PS C OPY OF THE ORDER FORWARDED TO: 1 . APPELLANT/ ASSESSEE: M/S. ARTLINE FINANCIAL MANAGEMENT P.LTD D/70 DINESH NAGAR, 208/35/7/2/3, KOLKATA - 99. 2 . RESPONDENT/ DEPARTMENT: INCOME TAX OFFICER, WARD 14(3), KOLKATA 3..C.I.T (A) . - 4. C.I.T. - KOLKATA. 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER ASSISTANT REGISTRAR H.O.O/D.D.O KOLKATA