D.C.I.T.,Circle-1(2), Kolkata V. M/s The Calcutta Jute Manufacturing Company Pvt. Ltd., Kolkata

ITA 216/KOL/2020

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 5214 (ITAT-KOLKATA)
• Duration Of Justice: 11 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-02-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 29-12-2020
• Assessment Year: 2012-2013
• Appeal Filed On: 18-02-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DHRUBAJYOTI ROAY
• Assessee Lawyers: S M SURANA
• Section: 250

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA A BENCH, KOLKATA (BEFORE SRI J. SUDHAKAR REDDY, HONBLE ACCOUNTANT MEMBER & SHRI SANJAY GARG, HONBLE JUDICIAL MEMBER) [VIRTUAL COURT HEARING] ITA NO. 216/KOL/2020 ASSESSMENT YEARS: 2012-13 DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(2), KOLKATA.......................APPELLANT VS. M/S. THE CALCUTTA JUTE MANUFACTURING COMPANY PVT. LTD............................RESPONDENT 24/1/1, ALIPORE ROAD 3 RD FLOOR ALIPORE KOLKATA 700 027 [PAN : AABCT 0005 G] APPEARANCES BY: SHRI S.M. SURANA, ADVOCATE, APPEARED ON BEHALF OF THE ASSESSEE. SHRI DHRUBAJYOTI ROAY, JCIT, D/R, APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : DECEMBER 29 TH , 2020 DATE OF PRONOUNCING THE ORDER : FEBRUARY 3 RD , 2021 ORDER PER J. SUDHAKAR REDDY, AM :- THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS) 17, KOLKATA, (HEREINAFTER THE LD.CIT(A)), PASSED U/S. 250 OF THE INCOME TAX ACT, 1961 (THE ACT), DT. 26/07/2019 FOR THE ASSESSMENT YEAR 2012-13. 2. WE HAVE HEARD RIVAL CONTENTIONS. ON CAREFUL CONSIDERATION OF THE FACTS AND CIRCUMSTANCES OF THE CASE, PERUSAL OF THE PAPERS ON RECORD, ORDERS OF THE AUTHORITIES BELOW AS WELL AS CASE LAW CITED, WE HOLD AS FOLLOWS:- 3. THE LD. CIT(A) AT PARA 4 OF HIS ORDER, HAS HELD AS FOLLOWS:- I HAVE GONE THROUGH THE ASSESSMENT ORDER AND THE SUBMISSIONS OF THE APPELLANT. I FIND THAT THERE IS NO DIFFERENCE IN THE LEDGER ACCOUNT OF M/S. DAKALIA BROTHERS IN THE BOOKS OF THE APPELLANT AND THE LEDGER ACCOUNT OF THE APPELLANT AS APPEARS IN THE BOOKS OF M/S. DAKALIA BROTHERS. AS PER (FROM LAST YEAR) OF RS.2,43,03,945/- AND FURTHER GOODS PURCHASED DURING THE YEAR FROM M/S. DAKALIA BROTHERS WAS OF RS.3,81,78,139/- AND APART FROM THAT THE APPELLANT HAD PAID RS.6,18,76,312/- INCLUDING RS.1,53,450/- BY WAY OF INTEREST FOR DELAYED PAYMENT. THIS IS FULLY TALLYING WITH THE INFORMATION GIVEN TO THE AO BY M/S DAKALIA BROTHERS ON 24/03/2015, ENCLOSING THE RECONCILIATION STATEMENT WHERE THEY HAVE CONFIRMED THE TOTAL PURCHASES AND TOTAL PAYMENT MADE BY THEM AT RS.6,16,49,969/-. IT APPEARS THAT THE AO HAS NOT PROPERLY APPRECIATED THE FACTS IN THE LIGHT OF DOCUMENTARY EVIDENCES SUBMITTED BY THE APPELLANT. ACCORDINGLY, THE ADDITION IS THEREFORE DIRECTED TO BE DELETED. 4. THIS FACTUAL FINDINGS O UNDER THESE CIRCUMSTANCES, WE UPHOLD THE SAME AND DISMISS THIS APPEAL OF THE REVENUE. KOLKATA, THE SD/- [SANJAY GARG] JUDICIAL MEMBER DATED : 03.02.2021 {SC SPS} COPY OF THE ORDER FORWARDED TO: 1. M/S. THE CALCUTTA JUTE MANUFACTURING COMPANY PVT. LTD 24/1/1, ALIPORE ROAD 3 RD FLOOR ALIPORE KOLKATA 700 027 2. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE 3. CIT(A)- 4. CIT- , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. 2 M/S. THE CALCUTTA JUTE MANUFACTURING COMPANY PVT. LTD THIS FACTUAL FINDINGS O F THE LD. CIT(A), COULD NOT BE CONTROVERTED BY THE LD. D/R. UNDER THESE CIRCUMSTANCES, WE UPHOLD THE SAME AND DISMISS THIS APPEAL OF THE REVENUE. KOLKATA, THE 3 RD DAY OF FEBRUARY, 2021. [J. SUDHAKAR REDDY] ACCOUNTANT M/S. THE CALCUTTA JUTE MANUFACTURING COMPANY PVT. LTD DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE -1(2), KOLKATA 5. CIT(DR), KOLKATA BENCHES, KOLKATA. ASSISTANT REGISTRAR ITAT, KOLKATA BENCHES ITA NO. 216/KOL/2020 ASSESSMENT YEARS: 2012-13 M/S. THE CALCUTTA JUTE MANUFACTURING COMPANY PVT. LTD . F THE LD. CIT(A), COULD NOT BE CONTROVERTED BY THE LD. D/R. UNDER THESE CIRCUMSTANCES, WE UPHOLD THE SAME AND DISMISS THIS APPEAL OF THE REVENUE. SD/- SUDHAKAR REDDY] ACCOUNTANT MEMBER TRUE COPY BY ORDER ASSISTANT REGISTRAR ITAT, KOLKATA BENCHES