ITO, Ward - 5(4), Kolkata, Kolkata V. M/s. Harshratna Finance & Investment Pvt. Ltd., , Kolkata

ITA 2185/KOL/2017

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 1751 (ITAT-KOLKATA)
• Duration Of Justice: 3 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-01-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2013-2014
• Appeal Filed On: 12-10-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PIJUSH MUKHERJEE CIT DR RE
• Assessee Lawyers: V K JAIN
• Keywords: Earning of tax free income
• Section: 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA SMC BENCH, KOLKATA [BEFORE SRI J. SUDHAKAR REDDY, A CCOUNTANT M EMBER ] I.T.A. NO. 2185 /KOL/201 7 ASSESSMENT YEAR: 20 1 3 - 14 INCOME TAX OFFICER WARD - 5 ( 4 ), KOLKATA ..... . . . ... APPELLANT P - 7, CHOWRINGHEE SQUARE 8 TH FLOOR KOLKATA 700 069 M/S. HARSHRATNA FINANCE & INVESTMENT PVT. LTD. .. ... RESPONDENT 2, LAL BAZAR STREET KOLKATA 700 001 [PAN : AAACV 7427 R ] APPEARANCES BY: SHRI V.K.JAIN, FCA , APPEAR ED ON BEHALF OF THE ASSESSEE. SHRI PIJUSH MUKHERJEE , ADDL. CIT , DR APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : JANUARY 15 TH , 2017 DATE OF PRONOUNCING THE ORDER : JANUARY 19 TH , 201 8 O R D E R PER J. SUDHAKAR REDDY : - THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 2 , KOLKATA , (HEREINAFTER THE LD. CIT (A)), PASSED U/S 250 OF THE INCOME TAX ACT, 1961 (THE ACT), DT. 1 1 / 0 7 /201 7 , FOR THE ASSESSMENT YEAR 20 1 3 - 14. 2. THERE IS A DELAY OF 12 DAYS IN FILING OF THE APPEAL IN TIME. AFTER PERUSING THE PETITION FOR CONDONATION FILED, I AM CONVINCED THAT THE APPELLANT WAS PREVENTED BY SUFFICIENT CAUSE FROM FILING THIS APPEAL IN TIME. HENCE WE CONDONE THE DELAY AND ADMIT THIS APPEAL. 3. AFTER HEARING RIVAL CONTENTIONS, I FIND THAT THE LD. FIRST APPELLATE AUTHORITY HAS FOLLOWED THE JUDGEMENT OF THE HONBLE DELHI HIGH COURT IN THE CASE OF M/S. CHEMINVEST LTD. VS. COMMISSIONER OF INCOME TAX, I.T.A. NO. 749/2014 , ORDER DT. 02/09/2015, WHEREIN IT IS HELD THAT IF NO EXEMPT INCOME IS RECEIVED OR RECEIVABLE 2 I.T.A. NO. 2185/KOL/2017 ASSESSMENT YEAR: 2013 - 14 M/S. HARSHRATNA FINANCE & INVESTMENT PVT. LTD DURING THE IMPUGNED ASSESSMENT YEAR, NO DISALLOWANCE CAN BE MADE U/S 14A OF THE ACT. I FIND NO INFIRMITY IN THIS ORDER OF THE LD. CIT(A) AND UPHOLD THE SAME. 4. IN THE RESULT, THIS APPE AL OF THE REVENUE IS DISMISSED. KOLKATA, THE 19 TH DAY OF JANUARY , 201 8 . SD/ - [ J. SUDHAKAR REDDY ] ACCOUNTAN T MEMBER DATED : 19 . 01 .201 8 {SC SPS} COPY OF THE ORDER FORWARDED TO: 1. M/S. HARSHRATNA FINANCE & INVESTMENT PVT. LTD 2, LAL BAZAR STREET KOLKATA 700 001 2. INCOME TAX OFFICER WARD - 5(4), KOLKATA P - 7, CHOWRINGHEE SQUARE 8 TH FLOOR KOLKATA 700 069 3. CIT(A) - 4. CIT - , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER SENIOR PRIVATE SECRETARY HEAD OF OFFICE/ D.D.O. ITAT, KOLKATA BENCHES 3 I.T.A. NO. 2185/KOL/2017 ASSESSMENT YEAR: 2013 - 14 M/S. HARSHRATNA FINANCE & INVESTMENT PVT. LTD