ITO,Ward-4(1), Kol, Kolkata V. M/s. Trimurti Grihanirman Pvt. Ltd. , Kolkata

ITA 660/KOL/2023

• Counselvise Citation: [2023] 101 COUNSELVISE.COM (IT) 9782 (ITAT-KOLKATA)
• Duration Of Justice: 4 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-11-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 29-10-2023
• Assessment Year: 2017-2018
• Appeal Filed On: 02-07-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Revised return
• Section: 250

Judgement Text

आयकर अपीलȣय अͬधकरण, कोलकाता पीठ ‘एसएमसी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “SMC” BENCH KOLKATA Įी संजय गग[, ÛयाǓयक सदèयएवं Įी ͬगरȣश अĒवा ,लेखा सदèय के सम¢ Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.660/Kol/2023 Assessment Year: 2017-18 ITO, Ward-4(1), Kolkata................................................................Appellant vs. M/s Trimurti Grihanirman Pvt. Ltd................................................... Respondent 1 Orbit, Garstin Place, Dalhousie, Kolkata-1 [PAN: AADCT0482H] Appearances by: Shri P. P. Barman, Addl. CIT- Sr. DR, appeared on behalf of the appellant. Shri Ramesh Kumar Patodia, AR, appeared on behalf of the Respondent. Date of concluding the hearing : November 29, 2023 Date of pronouncing the order : November 29, 2023 आदेश / ORDER संजय गग[, ÛयाǓयकसदèयɮवारा/ Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the revenue against the order dated 10.03.2023 of the National Faceless Appeal Centre [hereinafter referred to as ‘CIT(A)’] passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’). 2. The only issue raised in this appeal by the Department is whether the assessee is entitled to the claim of loss of the amalgamated company. 3. The Assessing Officer rejected the claimed on the ground that after amalgamation the assessee was supposed to file a revised return claiming the said losses of the amalgamated company. I.T.A. No.660/Kol/2023 Assessment Year: 2017-18 M/s Trimurti Grihanirman Pvt. Ltd 2 4. During the appellate proceedings before the CIT(A), it was brought to the knowledge of the CIT(A) that the revised return could not be filed as by that time, the order of the National Company Law Tribunal approving the amalgamation was not yet passed. However, during the assessment proceedings, the factum of amalgamation was duly brought to the knowledge of the Assessing Officer. It was also explained that the losses could not be claimed by way of revised return because of the aforesaid facts and circumstances. There is no allegation by the Department that the assessee otherwise is not entitled to the claim of the said losses. The ld. CIT(A) considering the overall facts and circumstances of the case has allowed the losses claimed of the amalgamated company. 5. We do not find any reason to interfere with the aforesaid order of the CIT(A) and the same is upheld. 6. In the result, the appeal of the revenue stands dismissed. Kolkata, the 29 th November, 2023. Sd/- Sd/- [ͬगरȣश अĒवाल/Girish Agrawal] [संजय गग[/Sanjay Garg] लेखा सदèय/Accountant Member ÛयाǓयक सदèय/Judicial Member Dated: 29.11.2023. RS Copy of the order forwarded to: 1. ITO, Ward-4(1), Kolkata 2. M/s Trimurti Grihanirman Pvt. Ltd 3.CIT(A)- 4. CIT- , 5. CIT(DR), I.T.A. No.660/Kol/2023 Assessment Year: 2017-18 M/s Trimurti Grihanirman Pvt. Ltd 3 //True copy// By order Assistant Registrar, Kolkata Benches