Tims Polymers (P) Ltd., Kolkata V. Income Tax Officer, Ward-8(3), Kolkata, Kolkata

ITA 2683/KOL/2013

• Counselvise Citation: [2015] 140 COUNSELVISE.COM (IT) 99717 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 8 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-08-2015
• Appeal Filed By: Assessee
• Bench Allotted: B
• Assessment Year: 2005-2006
• Appeal Filed On: 29-11-2013
• Court: TRIBUNAL
• Department Lawyers: AMITAVA BHATTACHARJEE
• Assessee Lawyers: VARSHA JALAN LD
• Keywords: Principle of natural justice
• Section: 143(3); 10B

Judgement Text

ITA NO . 2683 / /KOL/ 13 SMC - JSR M/S. TIMS POLYMERS P.LTD 1 IN THE INCOME TAX APPELLATE TRIBUNAL, SMC BENCH: KOLKATA BEFORE HON BLE SRI J SUDHAKAR REDDY , A M I.T.A NO . 2683 /KOL/201 3 A.Y 200 5 - 06 M/S. TIMS POLYMERS (P) LTD V S. I.T.O WARD 8(3) , KOLK ATA PAN: A AACT9964D ( APPELLANT ) ( RESPONDENT ) FOR THE APPELLANT/ASSESSEE: MISS VARSHA JALAN, ADVOCATE , LD.AR FOR THE RESPONDENT/DEPARTMENT : AMITAVA BHATTACHARJEE, JCIT / LD. SR. DR DATE OF HEARING: 17 - 08 - 2015 DATE OF PRONOUNCEMENT : 20 - 08 - 201 5 ORDER TH IS APPEAL BY THE ASSESSEE IS ARISING OUT OF THE ORDER OF LD. C IT(A) , KOLKATA IN APPEAL NO. 658 /CIT(A) - VIII/KOL/2007 - 08 DATED 10 - 09 - 2013 . ASSESSMENT WAS FRAMED BY INCOME TAX OFFICER, WA RD 8(3) , KOLKATA FOR THE ASSESSMENT YEAR 200 5 - 06 U/S 143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT ) VIDE HIS ORDER DATED 31 - 12 - 2007 . 2. T HE ISSUE THAT ARISES FROM MY CONSIDERATION IS WHETHER THE LD.CIT(A) IS RIGHT IN BRIN GING TO TAX INTEREST INCOME UNDER THE HEAD I NCOME FROM OTHER SOURCES INS TEAD OF INCOME FROM BUSINESS OR PROFESSION AND CONSEQUENTLY, RE - COMPUTING THE QUANTUM OF EXEMPTION U/S. 10B OF THE ACT. 3. AFTER HEARING THE RIVAL CONTENTIONS, I AM OF THE CONS IDERED OPINION THAT THE APPEAL SHOULD BE SET ASIDE TO THE FILE OF THE LD.CIT(A) FOR FRESH ADJUDICATION , DEN O VO , IN ACCORDANCE WITH THE LAW , AFTER GIVING THE ASSESSEE ADEQUATE OPPORTUNITY OF HEARING , ON THE GROUND OF NATURAL JUSTICE. THE ASSESSEE HAS DEMONSTRA TED BEFORE ME THAT IT WAS PREVENTED BY SUFFICIENT CAUSE FROM APPEARING BEFORE THE 1 ST APPELLATE AUTHORITY . THE FIRST APPELLATE AUTHORITY HAS PASSED AN EX - PARTE ORDER. HENCE, THE APPEAL OF THE ASSESSEE IS SET ASIDE TO THE FILE OF THE LD.CIT(A) FOR DENOVO ADJUDICATION IN ACCORDANCE WITH LAW. THE ASSESSEE SHOULD APPEAR ITA NO . 2683 / /KOL/ 13 SMC - JSR M/S. TIMS POLYMERS P.LTD 2 BEFORE THE LD. CIT(A) ON 2/11/ 2015 AND TAKE A NOTICE OF HEARING AND THEREAFTER CO - OPER ATE IN DISPOSAL OF THE APPEAL . 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE . ORDER PRONOUNCED IN THE OPEN COURT ON 20 - 08 - 2015 SD/ - DATED : 20 - 08 - 2015 [ J SUDHAKAR REDDY, ACCOUNTANT MEMBER ] *PP /SR.P.S. COPY OF THE ORDER FORWARDED TO: 1. APPELLANT - M/S. TIMS POLYMERS P.LTD C/O MANISH DOKANIA 12 MANGO LANE, KOL - 1. 2 RESPONDENT : I T O W (3), KOLKATA P - 7 CHOWRINGHEE SQ, KOL - 69. 3 . THE CIT, 4 . THE CIT(A), KOLKATA 5 . DR, KOLKATA BENCHES, KOLKATA TRUE COPY, / BY ORDER A SSTT. REGISTRAR