ITO, Ward - 5(4) , Kolkata V. M/s. Vasundhara Holdings Ltd., , Kolkata

ITA 2700/KOL/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 6723 (ITAT-KOLKATA)
• Duration Of Justice: 4 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-05-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2013-2014
• Appeal Filed On: 31-12-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AMITAVA BHATTACHARYA
• Assessee Lawyers: N MAJUNDER
• Keywords: Tax effect
• Section: 14A

Judgement Text

I.T.A. NO. 2700/KOL/2018 (ASSESSMENT YEAR: 2013-2014) M/S. VASU NDHARA HOLDINGS LIMITED 1 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA B(SMC) BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, VICE-PRESIDENT (KZ) I.T.A. NO. 2700/KOL/2018 ASSESSMENT YEAR: 2013-2014 INCOME TAX OFFICER,................................ ..............................APPELLANT WARD-5(4), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 -VS.- M/S. VASUNDHARA HOLDINGS LIMITED,.................. ..........................RESPONDENT 6, LYONS RANGE, 1 ST FLOOR, KOLKATA-700 001 [PAN: AABCV 0689 G] APPEARANCES BY: SHRI AMITAVA BHATTACHARYA, ADDL. CIT, SR. D.R., FOR THE APPELLANT SHRI N. MAJUNDER, A.R., FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING : MAY 06, 2019 DATE OF PRONOUNCING THE ORDER : MAY 06, 2019 O R D E R PER SHRI P.M. JAGTAP, VICE-PRESIDENT (KOLKATA ZONE) :- THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST TH E ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-2, KOLKATA DAT ED 12.10.2018 AND THE SOLITARY ISSUE INVOLVED THEREIN RELATES TO THE DELETION BY THE LD. CIT(APPEALS) OF THE DISALLOWANCE OF RS.2,55,554/- M ADE BY THE ASSESSING OFFICER UNDER SECTION 14A OF THE INCOME TAX ACT, 19 61. 2. ALTHOUGH AT THE TIME OF HEARING, ADJOURNMENT HAS BEEN SOUGHT ON BEHALF OF THE ASSESSEE, IT IS OBSERVED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LESS THAN THE MONETARY LIM IT OF RS.20,00,000/- FIXED BY THE CBDT VIDE CIRCULAR NO. 3/2018 DATED 11 .07.2018 FOR FILING THE APPEAL BEFORE THE TRIBUNAL AND THIS POSITION CLEARL Y EVIDENT FROM THE GROUND RAISED BY THE REVENUE IN THIS APPEAL IS NOT DISPUTED BY THE LD. D.R. SINCE THE SAID CIRCULAR ISSUED BY THE CBDT IS MADE APPLICABLE TO ALL THE I.T.A. NO. 2700/KOL/2018 (ASSESSMENT YEAR: 2013-2014) M/S. VASU NDHARA HOLDINGS LIMITED 2 PENDING APPEALS ALSO, I TREAT THIS APPEAL OF THE RE VENUE AS NOT MAINTAINABLE ON ACCOUNT OF LOW TAX EFFECT AND DISMI SS THE SAME. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON MAY 06, 2019. SD/- (P.M. JAGTAP) VICE-PRESIDENT (KZ ) KOLKATA, THE 6 TH DAY OF MAY, 2019 COPIES TO : (1) INCOME TAX OFFICER, WARD-5(4), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 (2) M/S. VASUNDHARA HOLDINGS LIMITED, 6, LYONS RANGE, 1 ST FLOOR, KOLKATA-700 001 (3) COMMISSIONER OF INCOME TAX (APPEALS)-2, KOLKAT A, (4) COMMISSIONER OF INCOME TAX- , (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.