Appeal details
Counselvise Citation
[2019] 117 COUNSELVISE.COM (IT) 6631 (ITAT-KOLKATA)
Assessee PAN
Bench
Appeal Number
Duration Of Justice
1 month(s) 13 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
01-05-2019
Appeal Filed By
Assessee
Order Result
Allowed
Bench Allotted
A
Assessment Year
2012-2013
Appeal Filed On
19-03-2019
Judgement Text
IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH (A), KOLKATA [BEFORE SHRI P.M. JAGTAP, VICE PRESIDENT (KZ) & SHRI S. S. VISWANETHRA RAVI, JM] I.T.A. NO. 549/KOL/2019 ASSESSMENT YEAR: 2012-13 TCG URBAN INFRASTRUCTURE HOLDINGS PVT. LTD..,.................................APPELLANT GROUND FLOOR, BUILDING BETA, BENGAL INTELLIGENT PARK, BLOCK EP & GP, SALT LAKE ELECTRONICS COMPLEX, SECTOR V, SALT LAKE CITY, KOLKATA 700 091. [PAN: AADCS 8821 M] ACIT, CIRCLE 2(2) KOLKATA.......................RESPONDENT P-7, CHOWRINGHEE SQUARE, KOLKATA 700 069. APPEARANCES BY: SHRI A.K. TIBREWAL , FCA & SHRI SAURABH GUPTA, ACA APPEARING ON BEHALF OF THE ASSESSEE. SHRI SHANKAR HALDER, SR. DR, JCIT APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : APRIL 26, 2019 DATE OF PRONOUNCING THE ORDER : MAY 01, 2019 ORDER PER P.M. JAGTAP, VICE PRESIDENT (KZ) THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF LD. CIT(A) 12, KOLKATA DATED 10.01.2019 WHEREBY HE DISMISSED THE APPEAL OF THE ASSESSEE BY TREATING THE SAME AS INFRUCTUOUS. 2. THE ASSESSEE IN THE PRESENT CASE IS A COMPANY WHICH IS ENGAGED IN THE BUSINESS OF REAL ESTATE, HIRING OF EQUIPMENT, FINANCING & CONSULTANCY. IN THE ASSESSMENT ORIGINALLY COMPLETED U/S 143(3) VIDE AN ORDER DATED 21.03.2015, THE TOTAL INCOME OF THE ASSESSEE WAS DETERMINED BY THE AO AT RS. 9,32,25,610/-. THE SAID ASSESSMENT WAS SET ASIDE BY THE CONCERNED LD. CIT VIDE AN ORDER DATED 15.02.2017 PASSED U/S 263 WITH THE DIRECTION TO THE AO TO MAKE THE ASSESSMENT AFRESH AS PER THE DIRECTION GIVEN IN THE ORDER U/S 263. IN PURSUANT TO THE DIRECTIONS GIVEN BY THE LD. CIT U/S 263, A FRESH ASSESSMENT WAS 2 TCG URBAN INFRASTRUCTURE HOLDINGS PVT. LTD. I.T.A. NO. 549/KOL/2019 ASSESSMENT YEAR: 2012-13 MADE BY THE ASSESSING OFFICER U/S 143(3) READ WITH SECTION 263 VIDE AN ORDER DATED 22.08.2017 DETERMINING THE TOTAL INCOME OF THE ASSESSEE AT RS. 13,60,66,841/-. 3. AGAINST THE ORDER PASSED BY THE AO U/S 143(3) READ WITH SECTION 263, AN APPEAL WAS FILED BY THE ASSESSEE BEFORE THE LD. CIT(A). MEANWHILE THE APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT DATED 15.02.2017 PASSED U/S 263 CAME TO BE DISPOSED OF BY THE TRIBUNAL VIDE ITS ORDER DATED 30.08.2017 PASSED IN ITA NO. 667/KOL/2017 WHEREBY THE ORDER PASSED U/S 263 WAS QUASHED BY THE TRIBUNAL. WHEN THIS POSITION WAS BROUGHT TO THE NOTICE OF THE LD. CIT(A) BY THE ASSESSEE, THE LD. CIT(A) TREATED THE APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER PASSED BY THE AO U/S 143(3) READ WITH SECTION 263 AS INFRUCTUOUS AND DISMISSED THE SAME. AGGRIEVED BY THE ORDER OF THE LD. CIT (A), THE ASSESSEE HAS PREFERRED THIS APPEAL BEFORE THE TRIBUNAL. 4. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AND ALSO PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. AS RIGHTLY CONTENDED BY THE LEARNED COUNSEL FOR THE ASSESSEE, AS A RESULT OF QUASHING OF THE ORDER OF THE LD. CIT PASSED U/S 263 BY THE TRIBUNAL, THE CONSEQUENTIAL ORDER PASSED BY THE AO U/S 143(3) READ WITH SECTION 263 HAS BECOME NON-EST IN THE EYES OF LAW AND THE LD. CIT(A) OUGHT TO HAVE CANCELLED THE SAID ASSESSMENT ALLOWING THE APPEAL OF THE ASSESSEE INSTEAD OF DISMISSING THE SAME. WE ACCORDINGLY MODIFY THE IMPUGNED ORDER OF THE LD. CIT(A) TO THIS EFFECT AND CANCEL THE 3 TCG URBAN INFRASTRUCTURE HOLDINGS PVT. LTD. I.T.A. NO. 549/KOL/2019 ASSESSMENT YEAR: 2012-13 ASSESSMENT MADE BY THE ASSESSING OFFICER U/S 143(3) READ WITH SECTION 263 OF THE ACT VIDE AN ORDER DATED 22.08.2017. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 1 ST MAY, 2019. SD/- SD/- (S. S. VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER VICE PRESIDENT DATED: 01/05/2019 BISWAJIT, SR. PS COPY OF ORDER FORWARDED TO: 1. TCG URBAN INFRASTRUCTURE HOLDINGS PVT. LTD., GROUND FLOOR, BUILDING BETA, BENGAL INTELLIGENT PARK, BLOCK EP & GP, SALT LAKE ELECTRONICS COMPLEX, SECTOR-V, SALT LAKE CITY, KOLKATA 700 091. 2. ACIT, CIRCLE-2(2), P-7, CHOWRINGHEE SQUARE, KOLKATA 700 069. 3. THE CIT(A) 4. THE CIT 5. DR TRUE COPY, BY ORDER, ASSISTANT REGISTRAR / H.O.O. ITAT, KOLKATA
Mehul