Kanya Kumari Properties Private Limited , Kolkata V. ITO, Ward - 10(1) , Kolkata

ITA 2537/KOL/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 2127 (ITAT-KOLKATA)
• Duration Of Justice: 6 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-06-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 10-06-2019
• Assessment Year: 2014-2015
• Appeal Filed On: 06-12-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: ROBIN CHOUDHURY CIT SR DR R
• Assessee Lawyers: M D SHAH
• Keywords: Set aside
• Section: 143(3); 115JB; 250; 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA SMC BENCH, KOLKATA [BEFORE SRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER] I.T.A. NO. 2537/KOL/2018 ASSESSMENT YEAR: 2014-15 KANYA KUMARI PROPERTIES PVT. LTD............APPELLANT AB-9, SECTOR-1 SALT LAKE CITY KOLKATA 700 064 [PAN : AACCK 4077 G] INCOME TAX OFFICER, WARD 10(1), KOLKATA..........................................................RESPONDENT APPEARANCES BY: SHRI M.D. SHAH, ADVOCATE, APPEARED ON BEHALF OF THE ASSESSEE. SHRI ROBIN CHOUDHURY, ADDL. CIT SR. D/R, APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : JUNE 10 TH , 2019 DATE OF PRONOUNCING THE ORDER : JUNE 19 TH , 2019 O R D E R PER J. SUDHAKAR REDDY :- THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 4, KOLKATA, (HEREINAFTER THE LD. CIT (A)), PASSED U/S 250 OF THE INCOME TAX ACT, 1961 (THE ACT), DT. 29/09/2018, FOR THE ASSESSMENT YEAR 2014-15. 2. THE LD. COUNSEL FOR THE ASSESSEE SUBMITTED THAT, THIS APPEAL, FILED AGAINST THE ORDER PASSED BY THE LD. CIT(A) WAS ARISING OUT OF THE ORDER OF THE ASSESSING OFFICER REJECTING THE APPLICATION MADE BY THE ASSESSEE U/S 154 OF THE ACT, REQUESTING THAT MAT CREDIT FOR THE YEAR 2012-13 BE GRANTED TO THE ASSESSEE. HE SUBMITTED THAT THE MAT CREDIT WAS DENIED IN VIEW OF THE SUBSEQUENT ORDER PASSED U/S 143(3) OF THE ACT, FOR THE ASSESSMENT YEAR 2012-13. HE POINTED OUT THAT THIS ASSESSMENT ORDER PASSED U/S 143(3) OF THE ACT, FOR THE ASSESSMENT YEAR 2012-13 ON 12/03/2015 HAS BEEN APPEALED AGAINST AND A DIRECTION MAY BE GIVEN TO THE ASSESSING OFFICER TO GRANT MAT CREDIT FOR THE IMPUGNED ASSESSMENT YEAR IN CASE WHERE THE LD. CIT(A) ALLOWS THE APPEAL OF THE ASSESSEE AGAINST THE QUANTUM ORDER PASSED U/S 143(3) FOR THE ASSESSMENT YEAR 2012-13. 2 I.T.A. NO. 2537/KOL/2018 ASSESSMENT YEAR: 2014-15 KANYA KUMARI PROPERTIES PVT. LTD 3. THE LD. D/R DID NOT HAVE ANY OBJECTION TO THESE SUBMISSIONS OF THE ASSESSEE. 4. AFTER HEARING RIVAL CONTENTIONS, I AM OF THE CONSIDERED VIEW THAT THE ASSESSING OFFICER IS BOUND TO PASS CONSEQUENTIAL ORDER GIVING MAT CREDIT TO THE ASSESSEE IN CASE THE LD. CIT(A) ALLOWS THE APPEAL OF THE ASSESSEE FOR THE ASSESSMENT YEAR 2012-13, IN THE ASSESSMENT ORDER PASSED U/S 143(3) OF THE ACT ON 12/03/2015, WHEREIN THE ASSESSED INCOME WAS RS.4,88,90,570/-, WHEREAS THE TAX LIABILITY U/S 115JB OF THE ACT, STOOD ONLY AT RS.27,79,191/-. THUS THIS ISSUE IS SET ASIDE TO THE FILE OF THE ASSESSING OFFICER, WITH A DIRECTION TO GRANT CONSEQUENTIAL CREDIT OF MAT TO THE ASSESSEE IN CASE THE LD. CIT(A) ADJUDICATES THE APPEAL FOR THE ASSESSMENT YEAR 2012-13 IN FAVOUR OF THE ASSESSEE. 5. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. KOLKATA, THE 19 TH DAY OF JUNE, 2019. SD/- [ J. SUDHAKAR REDDY] ACCOUNTANT MEMBER DATED : 19.06.2019 {SC SPS} COPY OF THE ORDER FORWARDED TO: 1. KANYA KUMARI PROPERTIES PVT. LTD AB-9, SECTOR-1 SALT LAKE CITY KOLKATA 700 064 2. INCOME TAX OFFICER, WARD 10(1), KOLKATA 3. CIT(A)- 4. CIT- , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER ASSISTANT REGISTRAR ITAT, KOLKATA BENCHES