M/s Downhill Traders Pvt. Ltd., Kolkata V. I.T.O,Ward-11(4), Kolkata

ITA 586/KOL/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 5178 (ITAT-KOLKATA)
• Duration Of Justice: 4 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-08-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 25-03-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SANKAR HALDER JCITSRDR
• Keywords: Earning of tax free income; Rule 8D
• Section: 143(3); 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.576/KOL/2019 ASSESSMENT YEAR:2014-15 SAGAR VANIJYA PVT. LTD., RCH MANSION, ROOM NO.101, FIRST FLOOR, OPP. DALDA MILLS, FCI ROAD, BHILWARA, RAJASTHAN- 311001 [ PAN NO. AAKCS 3722 J ] / V/S . INCOME TAX OFFICER WARD-11(3), KOLKATA /APPELLANT .. /RESPONDENT /BY APPELLANT NONE /BY RESPONDENT SHRI SANKAR HALDER, JCIT-SR-DR /DATE OF HEARING 13-08-2019 ITA NO.585 & 586/KOL/2019 ASSESSMENT YEAR:2014-15 M/S DOYEN COMMERCIAL PVT. LTD, 891, JESSORE ROAD, GROUND FLOOR, KOLKATA-700 055 [ PAN NO. AADCD 3546 N ] M/S DOWNHILL TRADERS PVT. LTD., 23/24, RADHA BAZAR STREET, DALHOUSIE, KOLKATA- 01 [ PAN NO.AADCD 3547 P ] / V/S . INCOME TAX OFFICER WARD-11(4), AAYAKAR BHAWAN, P- 7, CHOWRINGHEE SQUARE, KOLKATA-69 /APPELLANT .. /RESPONDENT /BY ASSESSEE SHRI ABHISHEK BANSAL, FCA /BY REVENUE SHRI SANKAR HALDER, JCIT-SR-DR ITA NO.576, 585-586/KOL/2019 A.Y. 2014-15 SAGAR VANIJYA PVT. LTD. VS. ITO WD-11(3) M/S DOYE COMMERCIAL PVT LTD. & DOWNHILL TRADERS P L T. VS. ITO WD-11(4),KOL. PAGE 2 /DATE OF HEARING 14-08-2019 /DATE OF PRONOUNCEMENT 23-08-2019 /O R D E R THESE THREE ASSESSEES HAVE FILED AS MANY APPEAL(S) FOR ASSESSMENT YEAR 2014- 15, ARISE AGAINST THE COMMISSIONER OF INCOME-TAX (A PPEALS)-4, KOLKATAS SEPARATE ORDER DATED 14.11.2016, 31.12.2016 & 28.07.2016 PAS SED IN CASE NOS. 591/CIT(A)- 4/2016-17, 634/CIT(A)-/2016-17 & 633/CIT(A)-4/KOL/W D-11(4)/2016-17 CONFIRMING THE ASSESSING OFFICERS IDENTICAL ACTION INVOKING SEC. 14A R.W.S. RULE 8D DISALLOWANCE(S) OF 2,50,664/-, 10,31,116/- & 9,18,920/-; RESPECTIVELY INVOLVING PROCEEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961 ; IN SHORT THE ACT. 2. IT TRANSPIRES AT THE OUTSET THAT NEITHER OF THES E THREE ASSESSEES HAS DERIVED ANY EXEMPT INCOME IN THE RELEVANT PREVIOUS YEAR 2013-14 . HON'BLE JURISDICTIONAL HIGH COURTS DECISION IN CIT VS ASHIKA GLOBAL SECURITIES LTD . ITAT 100 OF 2004 GA NO.2122/2014 DATED 11.06.2018 HOLDS THAT THE IMPUGNED DISALLOWA NCE PROVISION DOES NOT COME INTO PLAY IN ABSENCE OF ANY SUCH EXEMPT IN COME. I THEREFORE ACCEPT THESE THREE APPELLANTS IDENTICAL GRIEVANCE ON THIS COUNT ALONE. THE IMPUGNED DISALLOWANCE(S) FORMING THE SUBJECT-MATTER OF THESE THREE APPEALS (SUPRA) STAND DELETED THEREFORE. 3. THESE THREE ASSESSEES APPEAL(S) ARE ALLOWED IN A BOVE TERMS. COPY OF THIS ORDER BE PLACED IN THE RESPECTIVE CASE FILE(S). ORDER PRONOUNCED IN OPEN COURT ON 23/08/2019 SD/- (S.S. GODARA) JUDICIAL MEMBE R KOLKATA, *DKP/SR.PS ' - 23/08/2019 ITA NO.576, 585-586/KOL/2019 A.Y. 2014-15 SAGAR VANIJYA PVT. LTD. VS. ITO WD-11(3) M/S DOYE COMMERCIAL PVT LTD. & DOWNHILL TRADERS P L T. VS. ITO WD-11(4),KOL. PAGE 3 / COPY OF ORDER FORWARDED TO:- 1. /ASSESSEE-SAGAR VANIJYA PVT. LTD. RCH MANSION, R.NO .101, FIRST FLOOR, OPP. DALDA MILLS, FC I ROAD, BHILWARA, RAJASTHAN-311001/M/S DOYEN COMMERCIAL PVT LTD., 891 JESSORE ROAD, GR. FL. KOLKATA-55/ M/S DOWNHILL TRADERS PVT LTD. 23/24, RADHA BAZAAR ST, DALHOUSIE KOLKATA-700001 2. /REVENUE-ITO WD-11(3), KOLKATA/ITO WD-11(4), AAYAKA R BHAWAN, P-7, CHOWRNGHEE SQUARE, KO LKAA-69 3. % ' / CONCERNED CIT 4. ' - / CIT (A) 5. ( ++% , % / DR, ITAT, KOLKATA 6. - / GUARD FILE. BY ORDER/ , /TRUE COPY/ %,