Haldia Petrochemicals Limited, Kolkata V. DCIT, Circle - 7(1), Kolkata, Kolkata

ITA 734/KOL/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 7592 (ITAT-KOLKATA)
• Duration Of Justice: 8 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-01-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 19-04-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: H CHAKRAVORTY
• Section: 143(3); 263

Judgement Text

ITA NO. 734/KOL/2018 A.Y. 2008-2 009 HALDIA PETROCHEMICALS LIMITED 1 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA D BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, VICE-PRESIDENT (KZ) AND SHRI A.T. VARKEY, JUDICIAL MEMBER I.T.A. NO. 734/KOL/2018 ASSESSMENT YEAR: 2008-2009 HALDIA PETROCHEMICALS LIMITED,..................... ............................APPELLANT BENGAL ECO INTELLIGENT PARK (TECHNA), TOWER-1, BLOCK EM, PLOT NO. 3, SECTOR-V, SALT LAKE, KOLKATA-700 091 [PAN: AAGCB 2001 F] -VS.- DEPUTY COMMISSIONER OF INCOME TAX,................. .....................RESPONDENT CIRCLE-7(1), KOLKATA, P-7, CHOWRINGHEE SQUARE, AAYAKAR BHAWAN, KOLKATA-700 069 APPEARANCES BY: SHRI H. CHAKRAVORTY, A.R., FOR THE APPELLANT SHRI SANKAR HALDER, JCIT, SR. D.R , FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING : JANUARY 08, 2019 DATE OF PRONOUNCING THE ORDER : JANUARY 18, 2019 O R D E R PER SHRI P.M. JAGTAP, VICE-PRESIDENT (KZ):- THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAI NST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-4, KOLKATA DAT ED 16.02.2018, WHEREBY HE DISMISSED THE APPEAL OF THE ASSESSEE BY TREATING THE SAME AS INFRUCTUOUS. 2. THE ASSESSEE IN THE PRESENT CASE IS A COMPANY, W HICH IS ENGAGED IN THE BUSINESS OF MANUFACTURING GENERATION OF POWER A ND ENERGY. IN THE ASSESSMENT ORIGINALLY COMPLETED UNDER SECTION 143(3 ) VIDE AN ORDER ITA NO. 734/KOL/2018 A.Y. 2008-2 009 HALDIA PETROCHEMICALS LIMITED 2 DATED 30.12.2010, THE TOTAL INCOME OF THE ASSESSEE WAS DETERMINED BY THE ASSESSING OFFICER AT RS.1,66,02,472/-. THE SAID ASS ESSMENT WAS SET ASIDE BY THE CONCERNED LD. CIT VIDE AN ORDER PASSED UNDER SECTION 263 DATED 28.03.2013 WITH A DIRECTION TO THE ASSESSING OFFICE R TO MAKE THE ASSESSMENT AFRESH AS PER THE DIRECTIONS GIVEN IN TH E ORDER UNDER SECTION 263. IN PURSUANCE TO THE DIRECTION GIVEN BY THE LD. CIT UNDER SECTION 263, A FRESH ASSESSMENT WAS MADE BY THE ASSESSING OFFICE R UNDER SECTION 143(3) READ WITH SECTION 263 VIDE AN ORDER DATED 03 .03.2014 DETERMINING THE TOTAL INCOME OF THE ASSESSEE AT RS.7,29,85,626/ -. 3. AGAINST THE ORDER PASSED BY THE ASSESSING OFFICE R UNDER SECTION 143(3) READ WITH SECTION 263, AN APPEAL WAS FILED B Y THE ASSESSEE BEFORE THE LD. CIT(APPEALS). MEANWHILE THE APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT DATED 28.03.2013 PASSED UN DER SECTION 263 CAME TO BE DECIDED BY THE TRIBUNAL VIDE ITS ORDER DATED 10.06.2016 PASSED IN ITA NO. 1743/KOL/2013 WHEREBY THE ORDER PASSED UNDE R SECTION 263 WAS QUASHED BY THE TRIBUNAL. WHEN THIS POSITION WAS BRO UGHT TO THE NOTICE OF THE LD. CIT(APPEALS) BY THE ASSESSEE, THE LD. CIT(A PPEALS) TREATED THE APPEAL FILED BY THE ASSESSEE BEFORE HIM AS INFRUCTU OUS AND DISMISSED THE SAME. AGGRIEVED BY THE ORDER OF THE LD. CIT(APPEALS ), THE ASSESSEE HAS PREFERRED THIS APPEAL BEFORE THE TRIBUNAL. 4. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D ALSO PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. AS RIGHTLY C ONTENDED BY THE LD. COUNSEL FOR THE ASSESSEE, AS A RESULT OF QUASHING O F THE ORDER OF THE LD. CIT PASSED UNDER SECTION 263 BY THE TRIBUNAL, THE CONSE QUENTIAL ORDER PASSED BY THE ASSESSING OFFICER UNDER SECTION 143(3) READ WITH SECTION 263 HAD BECOME NON-EST IN THE EYES OF LAW AND THE LD. CIT(APPEALS) OUGHT TO HAVE CANCELLED THE SAID ASSESSMENT ALLOWING THE APPEAL O F THE ASSESSEE INSTEAD OF DISMISSING THE SAME. WE ACCORDINGLY MODIFY THE I MPUGNED ORDER OF THE LD. CIT(APPEALS) TO THIS EFFECT AND CANCEL THE ASSE SSMENT MADE BY THE ITA NO. 734/KOL/2018 A.Y. 2008-2 009 HALDIA PETROCHEMICALS LIMITED 3 ASSESSING OFFICER UNDER SECTION 143(3) READ WITH SE CTION 263 OF THE ACT VIDE AN ORDER DATED 03.03.2014. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED IN THE OPEN COURT ON JANUARY 18 TH , 2019. SD/- SD/- (A.T. VARKEY) (P.M. JAGTAP) JUDICIAL MEMBER V ICE-PRESIDENT (KZ) KOLKATA, THE 18 TH DAY OF JANUARY, 2019 COPIES TO : (1) HALDIA PETROCHEMICALS LIMITED, BENGAL ECO INTELLIGENT PARK (TECHNA), TOWER-1, BLOCK EM, PLOT NO. 3, SECTOR-V, SALT LAKE, KOLKATA-700 091 (2) DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-7(1), KOLKATA, P-7, CHOWRINGHEE SQUARE, AAYAKAR BHAWAN, KOLKATA-700 069 (3) COMMISSIONER OF INCOME TAX (APPEALS)-4, 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.