M/s. Som Datt Securities Ltd., Kolkata V. ACIT, Circle - 5, Kolkata, Kolkata

ITA 2240/KOL/2010

• Counselvise Citation: 224023514 RSA 2010
• Duration Of Justice: 9 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-09-2011
• Appeal Filed By: Assessee
• Bench Allotted: C
• Next Hearing Date: 24-06-2011
• Assessment Year: 2006-2007
• Appeal Filed On: 22-12-2010
• Court: TRIBUNAL
• Department Lawyers: S K ROY
• Assessee Lawyers: R SALARPURIA
• Keywords: Opportunity of being heard; Set aside

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL, BEN CH C, KOLKATA () BEFORE , , , , , SHRI MAHAVIR SINGH, JUDICIAL MEMBER. /AND . .. . ! ! ! !. .. . , '# SHRI C.D.RAO, ACCOUNTANT MEMBER $ $ $ $ / ITA NO . 2240/KOL/2010 %& '(/ ASSESSMENT YEAR : 2006-07 (*+ / APPELLANT ) M/S.SOM DATT SECURITIES LTD., KOLKATA (PAN: AAECS 4091 G ) - % - - VERSUS - . (-.*+/ RESPONDENT ) A.C.I.T., CIRCLE-5, KOLKATA *+ / 0 '/ FOR THE APPELLANT: SHRI R.SALARPURIA -.*+ / 0 '/ FOR THE RESPONDENT: SHRI S.K.ROY 1%2 / !# /DATE OF HEARING : 26.09.2011. 3' / !# /DATE OF PRONOUNCEMENT : 26.09.2011. '4 / ORDER ( (( ( . .. . ! ! ! !. .. . ) )) ), , , , '# PER SHRI C.D.RAO, AM THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE O RDER DATED 28.10.2010 OF THE CIT(A)-VI, KOLKATA PERTAINING TO A.YR. 2006-07. 2. THE ONLY ISSUE RAISED BY ASSESSEE IS RELAT ING TO CLAIM OF REBATE U/S 88E OF THE IT ACT. 3. AT THE TIME OF HEARING BEFORE US, THE LD. COUNSEL APPEARING ON BEHALF OF ASSESSEE BY REFERRING TO THE PROVISION OF SECTION 88E (2) OF THE IT ACT CONTENDED THAT ASSESSING OFFICER AS WELL AS LD. CIT(A) HAS NOT COMPUTED EXEM PTION AVAILABLE TO ASSESSE U/S 88E OF THE IT ACT WHEREAS AO HIMSELF HAS ACCEPTED THE A SSESSEES COMPUTATION FOR EXEMPTION U/S 88E OF THE IT ACT IN THE ASSESSMENT Y EAR 2008-09 DATED 4.5.2010 AND 2 FILED COPY OF THE SAME AND REQUESTED TO SET ASIDE T HIS ISSUE TO THE FILE OF AO FOR RECOMPUTATION OF EXEMPTION U/S 88E (2) OF THE IT AC T. 4. ON THE OTHER HAND, THE LD. DR APPEARING ON BEHALF OF THE REVENUE HAS NOT OBJECTED TO THE SAID REQUEST OF THE LD. COUNSEL FOR ASSESSEE. 5. AFTER HEARING THE RIVAL SUBMISSIONS AND O N CAREFUL PERUSAL OF MATERIALS AVAILABLE ON RECORD AND THE PROVISION OF SECTION 88 E OF THE IT ACT WE CONSIDER IT FIT TO SET ASIDE ORDERS OF THE REVENUE AUTHORITIES ON THI S ISSUE AND DIRECT AO TO RE-COMPUTE EXEMPTION AVAILABLE U/S 88E AS PER SUB-CLAUSE (2) O F THE IT ACT AFTER GIVING REASONABLE OPPORTUNITY OF BEING HEARD TO ASSESSEE. 6. IN THE RESULT THE APPEAL OF ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 26.09.2011. SD/- SD/- , , , , MAHAVIR SINGH, JUDICIAL MEMBER . .. . ! ! ! !. .. . , ,, , '# '# '# '# , C.D.RAO, ACCOUNTANT MEMBER. ( (( (!# !# !# !#) )) ) DATE: 26.09.2011. '4 / -5 6'5'7- COPY OF THE ORDER FORWARDED TO: 1. M/S. SOM DATT SECURITIES LTD., C/O SALARPURIA JAJOD IA & CO., 7, C.R.AVENUE, KOLKATA-700072. 2 THE ACIT, CIRCLE-5, KOLKATA 3. THE CIT, 4. THE CIT(A)-VI, KOLKATA 5. DR, KOLKATA BENCHES, KOLKATA .5 -/ TRUE COPY, '4%1/ BY ORDER, DEPUTY /ASST. REGISTRAR , ITAT, KOLKATA BENCHES R.G.(.P.S.) 3