TCG Software Parks Pvt. Ltd, Kolkata V. PCIT-1, Kolkata, Kolkata

ITA 668/KOL/2017

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 6400 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 1 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-05-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 06-04-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: G HANGSHING CIT LD
• Assessee Lawyers: A K TIBREWAL FCA LD
• Section: 143(3); 263

Judgement Text

1 ITA NO. 668/KOL/2017 IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH: KOL KATA BEFORE: SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUD ICIAL MEMBER I.T.A NO. 668/KO L/2017 A.Y: 201 2-13 M/S. TCG SOFTWARE PARKS VS. THE PR. CIT-1, KOLKATA PVT. LTD. PAN: AAECS 2844K [APPELLANT] [RESP ONDENT] FOR THE APPELLANT : SHRI A.K. TIBREWAL, FCA,LD .AR FOR THE RESPONDENT : SHRI G. HANGSHING, CIT, LD .SR.DR DATE OF HEARING : 08-03-2018 DATE OF PRONOUNCEMENT : 18 -05-2018 ORDER SHRI S.S.VISWANETHRA RAVI, JM: THIS APPEAL BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER OF THE PRINCIPAL COMMISSIONER OF INCOME TAX- 1, KOLKATA D T. 13-02-2017 FOR THE A.Y 2012-13. 2. THE ONLY ISSUE RAISED IN THE APPEAL WHETHER THE CIT U/S. 263 OF THE ACT IS JUSTIFIED IN DIRECTING THE AO TO MAKE A FRESH ASSESSMENT BY SETTING ASIDE THE ASSESSMENT ORDER U/S. 143(3) OF T HE ACT DT. 21-03- 2015 IN THE FACTS AND CIRCUMSTANCES OF THE CASE. 3. AFTER HEARING BOTH THE PARTIES, WE NOTICED THAT THE PR. CIT BY INVOKING HIS JURISDICTION U/S. 263 OF THE ACT SET A SIDE THE ASSESSMENT ORDER DT. 21-03-2015 PASSED U/S. 143(3) OF THE ACT BY ALLEGING THAT THE ASSESSEE HAD SHORT CREDITED RENT OF RS.35,07,54 7/- TO THE P & L ACCOUNT RECEIVED FROM GLOBAL E- BUSINESS OPERATIONS P.LTD. THE PR. CIT WAS OF THE OPINION THAT THE AO FAILED TO CARRY OUT NECESSARY VERIFICATION IN RESPECT OF SAID UNDISCLOSED RENT RE CEIVED. THE LD.AR SUBMITS THAT THE ASSESSEE CLAIMED TDS FOR 13 MONTHS ON RENTAL INCOME IN THE F.Y RELEVANT TO A.Y 2012-13, WHEREAS INCOME HAS BEEN 2 ITA NO. 668/KOL/2017 CONSIDERED FOR 12 MONTHS IN THE RETURN OF INCOME AN D REFERRED TO PAGE-5 OF DETAILS AS FILED BEFORE US BY THE ASSESSE E REGARDING THE TDS IN FORM 26AS. IN VIEW OF ABOVE, THE PR. CIT WAS NOT JUSTIFIED IN SETTING ASIDE THE ASSESSMENT ORDER DT. 21-03-15 OF THE A.O. ON THE OTHER HAND, THE LD. DR DID NOT CONTROVERT THE ABOV E SUBMISSIONS THE LD.AR. WE FIND THAT THE PR. CIT HAS ERRED IN SETTI NG ASIDE THE SAME AND IN DIRECTING THE AO TO MAKE FRESH ASSESSMENT U/ S. 263 OF THE ACT WITHOUT CONSIDERING THE FACTS OF THE CASE. THEREFOR E, TAKING INTO CONSIDERATION THE FACTS AND CIRCUMSTANCES OF THE CA SE, THE SUBMISSIONS OF THE LD. AR AND IN THE INTEREST OF N ATURAL JUSTICE, WE DEEM IT FIT AND PROPER TO REMAND THE ISSUE(S) INVOL VED IN THE APPEAL TO THE FILE OF AO FOR HIS VERIFICATION IN TERMS OF REPLY DT. 13-02-2017 IN RESPONSE TO NOTICE ISSUED U/S. 263 OF THE ACT BY TH E PR. CIT. GROUNDS RAISED BY THE ASSESSEE IN THIS REGARD ARE ALLOWED F OR STATISTICAL PURPOSE. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE I S ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT ON 18- 05-2018 SD/- SD/- J. SUDHAKAR REDDY S.S. VISWANETHRA RAVI ACCOUNTANT MEMBER JUDICIAL MEMBER DATED :18-05 -2018 PP(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1 . APPELLANT/ASSESSEE: M/S. TCG SOFTWARE PARKS PVT. LT D GR. FLOOR, BLDG. BETA, BENGAL INTELLIGENT PARK, BLO CK EP & GP, SALT LAKE ELECTRONICS COMP. SECTOR V, KOLKATA-700 0 91. 2 RESPONDENT /REVENUE : THE PR. COMMISSIONER OF INCOM E TAX-1, KOLKATA, P-7 CHOWRINGHEE SQUARE, 7 TH FLOOR, KOLKATA-700 069. 3 . THE CIT(A), KOLKATA 4. 5. CIT , KOLKATA DR, KOLKATA BENCHES, KOLKATA /TRUE COPY, BY ORDER, SR.PS/H.O.O ITAT KOLKATA 3 ITA NO. 668/KOL/2017