ACIT, Circle - 50(1), Kolkata, Kolkata V. Shri Ranjit Kumar Saha, Kolkata

ITA 2423/KOL/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 2400 (ITAT-KOLKATA)
• Duration Of Justice: 4 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-03-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2015-2016
• Appeal Filed On: 08-11-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Deemed dividend; Commercial expediency
• Section: 2; 2(22)(e); 201; 192; 13; 22; 2(22); 20

Judgement Text

1 ITA NO. 2423/KOL/19 AY 2015 - 16 RANJIT KUMAR SAHA IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: KOLKATA [BEFORE SHRI A. T. VARKEY, JM AND DR. (SHRI) ARJUN LAL SAINI, AM ] I .TA NO. 2423 KOL/201 9 A.Y 201 5 - 16 A.C.I.T, CIRCLE - 50(2) , KOLKATA VS. RANJIT KUMAR SAHA PAN: ALQPS1759K APPELLANT RESPONDE NT DATE OF HEARING 17 - 02 - 2020 DATE OF PRONOUNCEMENT 18 - 03 - 2020 FOR THE APPELLANT S HRI MANISH TIWARI, FCA, LD.AR FOR THE RESPONDENT SHRI A.K. NAYAK, CIT, LD.DR ORDER PER SHRI A.T. VARKEY, JM TH IS APPEAL IS PREFERRED BY THE R EVENUE AGAINST THE ORDER OF LD. C I T (APPEALS) , 15 , KOLKATA DATED 18 - 07 - 2019 FOR THE ASSESSMENT YEAR 20 1 5 - 16 . 2. GROUND S OF APPEAL PREFERRED BY THE REVENUE ARE AS UNDER: - 1. LD.CIT (A) HAS ERRED IN HOLDING THAT PROVISION OF SECTION 2(22)(E) IS NOT A TTRACTED AS THERE WAS NO LOAN TO THE ASSESSEE BUT IT WAS CURRENT ACCOUNT WITH THE COMPANY AND WHEN THE ASSESSEE IN HIS AUDITED ACCOUNT HAS ACCEPTED THAT IT WAS - UNSECURED MAN. 2. LD.CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS. 1,94,14,739/ - MADE BY TH E A.O. TREATING THE LOANS/ADVANCES AS DEEMED DIVIDEND BY INVOKING THE PROVISIONS OF SECTION 2(22)(E) OF THE INCOME TAX ACT,1961. 3. LD.CIT (A) HAS ERRED IN HOLDING THAT PROVISION OF SECTION 2(22)(E) IS NOT ATTRACTED SINCE THE COMPANY ENJOYS RENT FREE ACC OMMODATION ON THE PROPERTY OWNED BY THE ASSESSEE WHEN NOTHING IS SAID IN THE STATUTE. 4. LD.CIT (A) HAS ERRED IN HOLDING THAT PROVISION OF SECTION 2(22)(E) IS NOT ATTRACTED AS THE ASSESSEE MORTGAGED HIS PROPERTY FOR OBTAINING LOAN BY THE COMPANY WHEN IT WAS MERE A COLLATERAL SECURITY. 2 ITA NO. 2423/KOL/19 AY 2015 - 16 RANJIT KUMAR SAHA 3. THE MAIN GRIEVANCE OF THE REVENUE IS AGAINST THE ACTION OF L D. CIT(A) IN DELETING THE ADDITION OF RS. 1,94,14,739/ - MADE BY THE AO WHO TREAT ED THE LOANS/ADVANCES AS DEEMED DIVIDEND BY INVOKING THE PROVISIONS OF SECT ION 2(22)E OF THE INCOME - TAX ACT, 1961 ( IN SHORT, HEREINAFTER REFERRED TO THE ACT) . 4. BRIEF FACTS OF THE CASE AS NOTED BY THE AO IS THAT THE ASSESSEE APART FROM BEING THE PROPRIETOR OF PINKI TRADERS IS ALSO DIRECTOR IN M/S. RG NIRMAN PVT. LTD AND M/S . I P TRADERS PVT. LTD HAVING SHAREHOLDING 35.43% AND 30.96% RESPECTIVELY. T AKING NOTE OF THIS FACT, THE AO ASKED THE ASSESSEE TO GIVE LEDGER ACCOUNT OF THE COMPANIES WHERE HE IS A DIRECTOR/SHAREHOLDER. ON PERUSAL OF LEDGER THE AO OBSERVED THAT THE COMPAN Y M/S. RG NIRMAN PVT. LTD HAS ADVANCED MONEY TO THE DIRECTOR/SHAREHOLDER ON 02.04.2014 RS.30,00,000/ - AND ON 17.04.2014 RS. 7,00,000/ - . HOWEVER IN THE CASE OF M/S. IP TRADERS PVT. LTD, IT IS SEEN THAT THE ASSESSEE HAS PAID ON 01.04.2014 RS. 1,65,00,00 0/ - TO COMPANY, THEREAFTER, THE COMPANY HAS ADVANCED TO THE ASSESSEE ON 16.04.2014 RS. 3,50,00,000/ - AND RS. 1,30,00,000/ - . TH US, THE AO FOUND THAT THE COMPANY M/S. IP TRADERS PVT. LTD HAS ADVANCED RS. 2,15,00,000/ - TO THE ASSESSEE EVEN THOUGH THE ASSESS EE HAD NO CREDIT BALANCE WITH THE COMPANY. THE AO ON FURTHER PERUSAL OF BALANCE SHEET OF ABOVE COMPANIES AS ON 31 - 03 - 2015 NOTED THAT M/S. IP TRADERS PVT. LTD HAS RESERVE AND SURPLUS INCLUDING CAPITAL RESERVE OF RS. 1,01,09,475/ - & SECURITY PREMIUM FOR RS. 2,90,90,000/ - . THEREFORE, ACCORDING TO AO THE COMPANY HAS ACCUMULATED PROFIT OF RS. 1,67,76,752/ - AS ON 31.03.2015. AND IN THE CASE OF M/S. RG NIRMAN PVT. LTD THE COMPANY HAS RESERVE AND SURPLUS OF RS. 6,55,86, 237/ - INCLUDING RS. 6 , 29,48,250/ - AS SECURIT Y PREMIUM. A CCORDING TO AO, THE COMPANY HAS ACCUMULATED PROFIT OF RS. 26,37,987/ - AS ON 31.03.2015. 5. TAKING NOTE OF THE AFORESAID FACTS , THE AO DURING THE COURSE OF ASSESSMENT PROCEEDINGS ASKED THE ASSESSEE TO EXPLAIN AS TO WHY PROVISIONS OF SECTION 2 (22) (E ) OF THE ACT SHOULD NOT BE INVOKED IN VIEW OF THE ADVANCE MADE BY THE COMPAN IES TO ITS SHAREHOLDER HAVING SUBSTANTIAL SHAREHOLDING . IN RESPONSE TO THE AF ORESAID QUERY THE ASSESSEE SUBMITTED THAT THE TRANSACTION WAS IN TERMS OF LOAN AND THE SAME W AS SQUARED UP DURING THE YEAR ITSELF. HOWEVER, THE AO DID NOT ACCEPT SUCH A CLAIM OF THE ASSESSEE AND HELD THAT SINCE THE ASSESSEE HIMSELF HAS ACCEPTED THAT HE HAS GIVEN INTEREST TO THE 3 ITA NO. 2423/KOL/19 AY 2015 - 16 RANJIT KUMAR SAHA COMPANY AND ACCORDING TO ASSESSEE THE SAME IS FOR THE BENEFIT TO THE COMPANY. THEREFORE, ACCORDING TO AO THE COMPANY HAS DEFINITELY ADVANCED MONEY TO ITS DIRECTOR SHAREHOLDER HAVING SUBSTANTIAL SHAREHOLDING AND SUCH LOANS/ADVANCES COME UNDER THE PURVIEW OF SECTION 2(22) ( E) OF THE ACT AND THEREFORE, HE ADDED THE IMPU GNED AMOUNT OF RS. 1,94,14,739/ - APPLYING THE PROVISIONS OF SECTION 2(22)( E) OF THE ACT. AGGRIEVED, THE ASSESSEE PREFERRED AN APPEAL BEFORE THE LD. CIT(A), WHO WAS PLEASED TO DELETE THE SAME BY THE IMPUGNED ORDER. AGGRIEVED, THE REVENUE IS BEFO RE US. 6. AT THE OUTSET ITSELF, THE LD. COUNSEL FOR THE ASSESSEE POINTED OUT BEFORE US THAT THE SIMILAR ISSUE AROSE IN ASSESSEES OWN CASE FOR THE AY 2013 - 14 AND THE SIMILAR APPEAL OF REVENUE WAS DISMISSED BY THE TRIBUNAL VIDE ITS ORDER DT. 30 - 11 - 2018 CONFIRMING SI MILAR ACTION OF THE LD. CIT(A) DELETING THE SAME . THEREFORE, HE DREW OUR ATTENTION TO PAGES 47 - 56 OF THE P/B, WHEREIN WE NOTE THAT THE TRIBUNAL HAD DECIDED THE SIMILAR ISSUE OF REVENUE AGAINST THE ACTION OF THE LD. CIT(A) IN ASSESSEES OWN CASE FOR THE A Y 2013 - 14 AND DECIDED THE APPEAL IN FAVOUR OF ASSESSEE AND AGAINST THE REVENUE. 7. THE LD. DR APPEARING FOR THE REVENUE COULD NOT CONTROVERT THE ABOVE FACT THAT THE ISSUE INVOLVED IN THE PRESENT APPEAL IS NO LONGER RES INTEGRA AND ALSO COULD NOT POINT OU T ANY CHANGES IN FACTS OR IN LAW. IN SUCH SCENARIO, WE RESPECTFULLY FOLLOWING THE SAID DECISION OF THE CO - ORDINATE BENCH (ITAT, KOLKATA) IN ASSESEES OWN CASE FOR THE AY 2013 - 14 ORDER DT. 30 - 11 - 2018 (SUPRA) WHEREIN THE TRIBUNAL ADJUDICATED IDENTICAL GROUND AND HELD AS UNDER: - 9. WE HAVE GIVEN A CAREFUL CONSIDERATION TO THE RIVAL SUBMISSIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. WE NOTE THAT REVENUE'S SOLITARY GRIEVANCE RELATES TO ADDITION OF RS. 1,12,06,321/ - MADE BY THE LD. ASSESSING OFFICER TREA TING THE SAME AS DEEMED DIVIDEND BY APPLYING THE PROVISIONS OF SECTION 2(22)(E) OF THE ACT. DURING THE YEAR UNDER CONSIDERATION, THE PROPRIETARY CONCERN OF THE ASSESSEE I.E M/S. PINAKI TRADERS RECEIVED A LOAN RS.L,12,06,321/ - FROM M/S. I. P. TRADERS PVT.LT D. AND M/S RG NIRMAN PVT. LTD. MR. RANJIT KUMAR SAHA IS A BENEFICIAL OWNER IN M/S. J.P TRADERS PVT. LTD. AND M/S. R.G NIRMAN PVT LTD AS HE IS HOLDING 31.26% AND 41.77% OF THE SHAREHOLDING RESPECTIVELY IN BOTH THE COMPANIES. THE ACCUMULATED PROFIT OF M/S.I .P. TRADERS PVT LTD IS TO THE TUNE RS.L,06,31,355/ - AND OF M/S. R.G. NIRRNAN PVT LTD IS RS. 5,74,966/ - . AS THE LOAN GIVEN BY THE SAID COMPANY IS MORE THAN THE ACCUMULATED PROFIT HENCE THE ACCUMULATED PROFIT OF BOTH THE COMPANIES OF RS. 1,12,06,321 / - (RS.L ,06,31,355 +RS. 5,74,966) IS CONSIDERED AS DEEMED DIVIDEND IN THE HANDS OF MR. RANJIT KUMAR SAHA AND TAKEN AND ADDED TO THE TOTAL INCOME OF THE ASSESSEE AS INCOME FROM BUSINESS. THE REVENUE IS IN APPEAL BEFORE 4 ITA NO. 2423/KOL/19 AY 2015 - 16 RANJIT KUMAR SAHA US FOR RS. RS.L,06,31,355/ - DELETED BY ID CI T(A) TREATING THE SAME AS CURRENT ACCOUNT AND MUTUAL TRANSACTION . AFTER EXAMINING THE DETAILS SUBMITTED AT THE APPEAL STAGE, IT WAS OBSERVED BY THE LD CIT(A) THAT IN THE INSTANT CASE THE ASSESSEE HAD MORTGAGED ITS PROPERTY TO BANK FOR THE BUSINESS OF ' IP TRADERS AND THE COMPANIES NAMELY M/S I P TRADERS PVT. LTD. AND RG NIRMAN PVT. LTD. ENJOYS RENT FREE OFFICE SPACE FROM THE ASSESSEE. WE NOTE THAT THE TRANSACTION IS MUTUAL AND CURRENT ACCOUNT TRANSACTION. THE AMOUNT WAS ADVANCED BY THE COMPANY TO TH E ASSESSEE PURELY ON THE TERMS OF COMMERCIAL EXPEDIENCY AND IT IS ALSO PROVED FROM THE CHART SHOWING DAY TO DAY TRANSACTION AND WORKING OF INTEREST THEREON, THAT THE TRANSACTIONS ARE ON CURRENT ACCOUNT AND MUTUAL BENEFITS. LEDGER I.P TRADERS PVT. LTD 1 - A PR - 2012 TO 31 - MAR - 2013 BALANCE FROM TO TOTAL DAYS RATE INTEREST 2500000.00CR 09 - 05 - 12 15 - 05 - 12 6 DAYS 11.50% 4726.03CR 5500000.00CR 15 - 05 - 12 22 - 05 - 12 7 DAYS 11.50% 12130.14CR 4000000.00 D R 22 - 05 - 12 25 - 05 - 12 3 DAYS 11.50% 3780.82 DR 9 500000.00 D R 25 - 0 5 - 12 29 - 05 - 12 4 DAYS 11.50% 11972.60D R 2 2500000.00 D R 29 - 05 - 12 30 - 05 - 12 1 DAYS 11.50% 7089.04 D R 18525000.00D R 30 - 05 - 12 1 2 - 06 - 12 13 DAYS 11.50% 75876.37D R 2525000.00 D R 12 - 06 - 12 1 6 - 06 - 12 4 DAYS 11.50% 3182.19D R 1025000.00 D R 16 - 06 - 12 1 9 - 06 - 12 3 DAYS 11. 50% 968.84 D R 7975000.00 D R 19 - 06 - 12 1 3 - 07 - 12 24 DAYS 11.50% 6034.11 CR 10275000 .00CR 13 - 07 - 12 1 4 - 07 - 12 1 DAYS 11.50% 3237.33 CR 14275000. .00CR 14 - 07 - 12 1 7 - 07 - 12 3 DAYS 11.50% 13492.81 CR 19275000.0 0CR 17 - 02 - 12 23 - 07 - 12 6 DAYS 11.50% 36437.67 CR 14275000 . 00CR 23 - 07 - 12 24 - 07 - 12 1 DAYS 11.50% 4497.60 CR 1200000. 00CR 0 8 - 08 - 12 1 3 - 10 - 12 6 6 DAYS 11.50% 24953.42 CR 10000000.0 0CR 13 - 10 - 12 08 - 11 - 12 2 6 DAYS 11.50% 8191.78 CR 10000000.00CR 27 - 11 - 12 1 1 - 12 - 12 14 DAYS 11.50% 4 4109 . 59 CR 2 0 00000.00CR 11 - 12 - 12 1 8 - 12 - 12 7 DAYS 11.50% 4 4109 . 59 CR 144 00000.00CR 18 - 12 - 12 1 9 - 12 - 12 1 DAYS 11.50% 4 536.99 CR 100 00000.00CR 19 - 12 - 12 26 - 12 - 12 7 DAYS 11.50% 22054.79 CR 520 00000.00CR 26 - 12 - 12 27 - 12 - 12 1 DAYS 11.50% 1638.36 CR 192 00000.00CR 27 - 12 - 12 28 - 12 - 12 1 DAYS 11.50% 6049.32 CR 177 00000.00CR 28 - 12 - 12 05 - 01 - 13 8 DAYS 11.50% 4 4613.70 CR 149 00000.00CR 05 - 01 - 13 1 1 - 01 - 13 6 DAYS 11.50% 28167.12 CR 144 00000.00CR 11 - 01 - 13 1 4 - 01 - 1 3 3 DAYS 11.50% 13610.96 CR 840 00000.00CR 1 4 - 01 - 13 19 - 01 - 13 5 DAYS 11.50% 13232.88 CR 184 0000.00CR 19 - 0 1 - 13 22 - 01 - 13 3 DAYS 11.50% 17391.78 CR 183 00000.00CR 22 - 01 - 13 2 5 - 0 1 - 13 3 DAYS 11.50% 1 7 297.26 CR 168 0000.00CR 25 - 01 - 13 04 - 02 - 13 10 DAYS 11.50% 52931.51 CR 108 0000.00CR 04 - 02 - 13 07 - 02 - 13 3 DAYS 11.50% 10208.22C R 70 00000.00CR 14 - 02 - 13 1 9 - 02 - 13 5 DAYS 11.50 % 1102.74 CR 5 ITA NO. 2423/KOL/19 AY 2015 - 16 RANJIT KUMAR SAHA 33 00000.00 D R 19 - 02 - 13 23 - 02 - 13 4 DAYS 11.50% 4 158.90 D R 83 00000.00 D R 23 - 02 - 13 26 - 02 - 13 3 DAYS 11.50% 7845.21 D R 133 0000.00 D R 26 - 02 - 13 27 - 02 - 13 1 DAYS 11.50% 4 190.41 D R 173 0000.00 D R 27 - 02 - 13 28 - 02 - 13 1 DAYS 11.50% 5450.68 D R 18694551.00DR 28 - 02 - 13 01 - 03 - 13 1 DAYS 11.50% 5890.06 D R 2 0194551.00 DR 0 1 - 03 - 13 04 - 03 - 13 3 DAYS 11.50% 19088.00 D R 2 9594 551.00D R 0 4 - 03 - 13 06 - 03 - 13 2 DAYS 11.50% 18648.62 D R 2 42 00000.00 D R 0 6 - 03 - 13 1 4 - 03 - 13 8 DAYS 11.50% 60997.26 D R 11 00000.00 D R 14 - 03 - 13 15 - 03 - 13 1 D AYS 11.50% 3 4 65.75 D R 8 500000.00 D R 15 - 03 - 13 18 - 03 - 13 3 DAYS 11.50% 8034.25 D R 125 0000.00CR 18 - 03 - 13 23 - 03 - 13 5 DAYS 11.50% 19.69 CR GRAND TOTAL 248406.39CR IT IS ABUNDANTLY CLEAR FROM THE DATE WISE CHART, MENTIONED ABOVE, AND SUBMITTED BY THE ASSESSEE, DURING THE APPELLATE PROCEEDINGS THAT THE ASSESSEE, MR. RANJIT KUMAR SAHA HAVE GIVEN AS WELL AS TAKEN MONEY FROM J P TRADERS PVT. LTD. THE MONEY RECEIVED WAS FOR 3 - 4 DAYS WHEREAS FUND WAS ALSO PROVIDED TO THE COMPANY M/S. J P TRADERS PVT. LTD. AS FOR EXAMPLE RS. 95 LACS, 2.25 CRORE & 1.85 CRORE WAS PAID ON 25.05.12,29.05.12 & 30.05.12 RESPECTIVELY. BOTH THE CONCERNS. WERE IN THE BUSINESS OF EXPORTING OF BALES TO BANGLADESH AND THE AMOUNT SO RECEIVED OR PAID WAS FOR THE MUTUAL BENEFIT OF BOTH THE CONCERNS FOR THE EXPORT/IMPORT COMES TO THEM. SOMETIMES TRANSACTIONS WERE IN THE NAME OF COMPANY AND SOMETIMES IN THE NAME OF INDIVIDUALS. THESE ARE PURELY BUSINESS TRANSACTION, AS IT IS EVIDENT THAT THE MONEY IS KEPT ROTATING WITH 3 - 4 DAYS GENERALLY, W HICH WAS PURELY RELATING TO BUSINESS. IT WAS NEITHER FINANCIALS NOR IT WAS LONG TERM LOAN, IT WAS FOR MUTUAL SUPPORT RELATING TO BUSINESS. 10. FURTHER THE NET BENEFIT TO THE ASSESSEE IN TERMS OF INTEREST OF M/S JP TRADERS PVT. LTD IS ONLY RS. 2,48,406 / - , WHICH IS NEGLIGIBLE AS BOTH THE COMPANIES HAS ENJOYED THE PROPERTY OF T HE ASSESSEE. CONSIDERING THE FACTS NARRATED ABOVE WE NOTE THAT ADDITION WAS DELETED BY THE HONBLE DELHI HIGH COURT IN CASE OF CIT VS. CREATIVE DYEING & PRINTING (P) LTD [2009] 318 ITR 476 (DELHI), WHEREIN FACTS WERE SIMILAR TO THAT OF ASSESSEE AND IT WAS H ELD BY THE HONBLE DELHI HIGH COURT THAT THE AMOUNT WAS ADVANCED BY THE COMPANY TO THE ASSESSEE PURELY ON THE TERMS OF COMMERCIAL EXPEDIENCY AND SIMILAR VIEW WAS TAKEN BY THE COOR DINATE BENCH OF KOLKATA TRIBUNAL IN THE CASE OF ITO VS. SMT. GAYATRI CHAKRABORTY (2016) 45 ITR 197, WHEREIN IT WAS HELD AS FOLLOWS: .THE CURRENT ACCOUNT BETWEEN THE ASSESSEE AND THE DIRECTOR WAS A MUTUAL ACCOUNT WHICH WAS RECIPROCAL DEMANDS BETWEEN THE PARTIES AND DID NOT BENEFIT THE ASSESSEE ALONE. IT WAS THUS HELD THAT SECTION 2(22) CANNOT BE INVOKED IN THE CURRENT ACCOUNT TRANSACTION . 6 ITA NO. 2423/KOL/19 AY 2015 - 16 RANJIT KUMAR SAHA THEREFORE, CONSIDERING THE FACTUAL POSITION AND JUDICIAL PRECEDENTS NOTED ABOVE, WE ARE OF THE VIEW THAT TRANSACTIONS WERE ON CURRENT ACCOUNT BET WEEN THE ASSESSEE AND THE COMPANY AND WAS A MUTUAL ACCOUNT WHICH WAS RECIPROCAL DEMANDS BETWEEN THE PARTIES AND DID NOT BENEFIT THE ASSESSEE ALONE, THAT BEING SO, WE DECLINE TO INTERFERE IN THE ORDER PASSED BY THE LD. CIT(A), HIS ORDER ON THIS ISSUE IS HE REBY UPHELD AND GROUNDS OF APPEAL RAISED BY THE REVENUE IS DISMISSED. 8. FURTHER, WE NOTE THAT WHILE DECIDING THE ASSESSEES OWN CASE (SUPRA), THE COORDINATE BENCH OF TRIBUNAL HAD RELIED ON THE DECISION/ORDER DT. 30 - 10 - 2015 OF THE COORDINATE BENCH (I TAT, KOLKATA) IN THE CASE OF SMT. GAYATRI CHAKRABORTY, ITA NO. 151/KOL/2013 FOR THE AY 2009 - 10 AND DECIDED SIMILAR ISSUE IN FAVOUR OF ASSESSEE . WE FURTHER NOTE THAT THE DECISION/ORDER OF THE COORDINATE BENCH (ITAT, KOLKATA) IN THE CASE OF SMT. GAYATRI CHA KRABORTY (SUPRA) HAS BEEN AFFIRMED BY THE JUDGMENT OF THE HONBLE CALCUTTA HIGH COURT IN THE CASE OF SMT. GAYATRI CHAKRABORTY REPORTED IN (2018) 407 ITR 730(CAL). THEREFORE, RESPECTFULLY FOLLOWING THE DECISION/ORDER DT. 30 - 11 - 2018 OF THE COORDINATE BENC H (ITAT, KOLKATA) IN ASSESSEES OWN CASE FOR THE AY 2013 - 14, WE DISMISS THE APPEAL OF THE REVENUE. 9 . IN THE RESULT, THE APPEAL OF REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 18 MARCH 2020 SD/ - SD/ - AR JUN LAL SAINI A.T. VARKEY ACCOUNTANT MEMBER JUDICIAL MEMBER DATED 18 - 03 - 201 9 PP(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1. APPELLANT/ REVENUE: THE ACIT, CIRCLE - 50(1), UTTRAPAN COMPLEX, MANICKTALA, CIVIC CENTRE, KOLKATA - 54. 2 RESPONDENT/ ASSESSEE: SHRI RANJIT KUMAR SAHA BD - 53, RABINDR A PALLY, KRISHNAPUR, KOLKATA - 101. 3. CIT, 4. CIT(A), KOLKATA. 5. DR, KOLKATA BENCHES, KOLKATA **PP/SPS TRUE COPY BY BY ORDER ASSISTANT REGISTRAR ITAT KOLKATA