ACIT, Circle - 7, Kolkata, Kolkata V. M/s. Dataware Pvt. Ltd., Kolkata

ITA 783/KOL/2010

• Counselvise Citation: [2011] 119 COUNSELVISE.COM (IT) 6645 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-05-2011
• Appeal Filed By: Department
• Bench Allotted: A
• Next Hearing Date: 25-04-2011
• Assessment Year: 2001-2002
• Appeal Filed On: 19-04-2010
• Court: TRIBUNAL
• Department Lawyers: D R SINDHAL
• Keywords: Income from undisclosed sources; Source of fund; Onus to prove
• Section: 68

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL, BEN CH A, KOLKATA () BEFORE , , , , , SHRI MAHAVIR SINGH, JUDICIAL MEMBER. /AND ! ! ! ! , '# SHRI AKBER BASHA, ACCOUNTANT MEMBER $ $ $ $ / ITA NO . 783/KOL/2010 %& '(/ ASSESSMENT YEAR : 2001-02 (*+ / APPELLANT ) A.C.I.T., CIRCLE-7, KOLKATA - % - - VERSUS - . (-.*+/ RESPONDENT ) M/S. DATAWARE PVT. LTD. (PAN: AAACD 9143 Q) *+ / 0 '/ FOR THE APPELLANT: SHRI D.R.SINDHAL -.*+ / 0 '/ FOR THE RESPONDENT: SHRI SUBASH AGARWAL '! / ORDER PER SHRI AKBER BASHA, AM THIS APPEAL BY THE REVENUE IS AGAINST THE ORDER DAT ED 18.01.2010 OF THE CIT (A)-XIII, KOLKATA PERTAINING TO ASSESSMENT YEAR 200 1-02. 2. THE EFFECTIVE GROUND OF THE REVENUE IN THIS APP EAL IS WHETHER THE LEARNED CIT(A) IS RIGHT IN HOLDING THAT THE SHARE APPLICATI ON MONEY OF RS.1 CRORE RECEIVED BY THE ASSESSEE COMPANY WAS A GENUINE TRANSACTION OR NOT. 3. THE BRIEF FACTS OF THE CASE ARE THAT DURING THE PREVIOUS YEAR RELEVANT TO THE ASSESSMENT YEAR UNDER CONSIDERATION, THE ASSESS EE COMPANY RECEIVED SHARE APPLICATION MONEY OF RS.1 CRORE FROM M/S. HARRINGTO N TRADERS PVT. LTD. DURING THE ASSESSMENT PROCEEDINGS, THE ASSESSEE COMPANY SUBMIT TED THE CONFIRMATION LETTER OF 2 M/S. HARRINGTON TRADERS PVT. LTD., AND THE DETAILS OF THE TRANSACTIONS VIZ., ITS PAN, ETC., TO THE ASSESSING OFFICER. DURING THE SECOND R OUND OF ASSESSMENT PROCEEDINGS, AS PER THE DIRECTIONS OF THIS TRIBUNAL, THE ASSESSING OFFICER MADE INQUIRIES FROM M/S. HARRINGTON TRADERS PVT. LTD. AND THEY PROVIDED THE DETAILS LIKE THEIR PAN, SOURCES OF FUNDS USED FOR GIVING THE MONEY ETC., TO THE ASSESS ING OFFICER. THE AUTHORIZED REPRESENTATIVE CONTENDED THAT THE IDENTITY OF M/S. HARRINGTON TRADERS PVT. LTD. HAS BEEN PROVED. HE ALSO CLAIMED THAT THE GENUINENESS O F THE TRANSACTIONS HAS ALSO BEEN ESTABLISHED AS THE SHARE SUBSCRIPTION HAD BEEN RECE IVED BY THE ASSESSEE BY CHEQUE FORM M/S. HARRINGTON TRADERS PVT. LTD. HE CONTENDED THAT THE ASSESSING OFFICER CANNOT ENQUIRE INTO THE SOURCE OF THE SOURCE IN VIEW OF TH E DECISION OF GUJARAT HIGH COURT IN THE CASE OF DCIT VS ROHINI BUILDERS REPORTED IN 256 ITR 360 (GUJ.). THE AUTHORIZED REPRESENTATIVE CONTENDED THAT BY PROVING THE IDENTI TY OF THE CREDITOR M/S. HARRINGTON TRADERS PVT. LTD. AND THE FACT THE AMOUNT HAD BEEN RECEIVED BY THE ASSESSEE BY CHEQUE FROM M/S. HARRINGTON TRADERS PVT. LTD., THE ASSESSE E COMPANY HAD DISCHARGED HIS ONUS TO PROVE THE SOURCE OF THE RECEIPT. ANY FURTHER ENQ UIRY IN THE MATTER WILL BE TOWARDS ENQUIRING INTO THE SOURCE OF THE SOURCE, WHICH THE ASSESSING OFFICER CANNOT DO. ON THE OTHER HAND, THE ASSESSING OFFICER WAS OF THE VIEW T HAT SINCE THE GUJARAT HIGH COURT WAS NON-JURISDICTIONAL; HENCE, ITS DECISION WAS NOT BINDING ON HIM. ON THE CONTRARY HE REFERRED TO NUMBER OF DECISIONS OF HONBLE HIGH COU RT WHICH AS UNDER:- 1) CIT VS NIREDAN VANIJYA NIYOGAM LTD. 263 ITR 623 (CA L)(2003) 2) HINDUSTHAN TEA TRADING CO. LTD. VS CIT 263 ITR 289 (CAL)(2003) 3) CIT VS KUNDANLAL INVESTMENT LTD. 263 ITR 626 (CAL) (2003). HE OBSERVED THAT MERE IDENTITY OF THE SUBSCRIBER WA S NOT SUFFICIENT BUT THE CREDITWORTHINESS OF THE SUBSCRIBER WILL ALSO HAVE T O BE ESTABLISHED. FOR EXAMINING THE CREDITWORTHINESS OF THE SUBSCRIBER IN THIS CASE, TH E ASSESSING OFFICER EXAMINED THE BALANCE SHEET AND THE EXPLANATION FOR THE SOURCE OF MONEY SUBMITTED BY M/S. HARRINGTON TRADERS PVT. LTD. HE FURTHER OBSERVED TH AT M/S. HARRINGTON TRADERS PVT. LTD. HAD ALSO LIQUIDATED CERTAIN OTHER SHARES HELD AS INVESTMENTS FOR RS.56 LACS. ACCORDING TO HIM THE ANALYSIS OF THE ACCOUNTS OF M/ S. HARRINGTON TRADERS PVT. LTD. 3 REVEALED THAT THESE INVESTMENTS HAD BEEN LIQUIDATED AT PAR WITHOUT INCURRING ANY PROFIT AS THE COMPANY HAD NOT ACCOUNTED FOR ANY LONG TERM OR SHORT TERM CAPITAL GAINS. HE BELIEVED THAT THESE INVESTMENTS WERE HURRIEDLY LIQU IDATED BY M/S. HARRINGTON TRADERS PVT. LTD. IN ORDER TO MAKE IMPUGNED INVESTMENT IN T HE ASSESSEE COMPANY WHICH WAS NEITHER A LISTED COMPANY NOR HAD EVER DECLARED ANY DIVIDEND EITHER BEFORE THE ASSESSEES INVESTMENT OR THEREAFTER. THE SALE OF TH ESE INVESTMENTS AT PAR WAS ALSO A HURRIED ONE IN ORDER TO MAKE THE NEW INVESTMENT IN THE ASSESSEE COMPANY. IT WAS NOT UNDERSTOOD AS TO WHY M/S. HARRINGTON TRADERS PVT. L TD. WOULD RUSH TO LIQUIDATE ALL ITS CLOSING STOCK AND PART OF INVESTMENTS IN ONE STROKE JUST TO MAKE ANOTHER INVESTMENT IN AN UNLISTED ASSESSEE COMPANY WHEN M/S. HARRINGTON T RADERS PVT. LTD. WAS NOT GOING TO GET ANY DIVIDEND NOR ANY APPRECIATION IN THE VAL UE OF SHARES. FROM THESE HE INFERRED THAT THESE WERE ONLY FINANCIAL TRANSACTIONS TO FACI LITATE THE FUNDS OF RS.1 CRORE BY M/S. HARRINGTON TRADERS PVT. LTD. TO THE ASSESSEE COMPAN Y. THE ASSESSING OFFICER HELD THAT THE CREDITWORTHINESS OF M/S. HARRINGTON TRADERS PVT . LTD. AND THE GENUINENESS OF THE IMPUGNED TRANSACTIONS WERE NOT ESTABLISHED. THEREFO RE HE TREATED THE SHARE APPLICATION MONEY AS UNEXPLAINED AND ADDED TO THE TOTAL INCOME OF THE ASSESSEE COMPANY. AGGRIEVED BY THE ORDER OF THE ASSESSING OFFICER, TH E ASSESSEE WENT IN APPEAL BEFORE THE CIT [A]. ON APPEAL, THE CIT [A] DELETED THE ADDITIO N OF RS.1 CRORE MADE BY THE ASSESSING OFFICER. HENCE, THE REVENUE IS IN APPEAL BEFORE US. 4. THE LEARNED DEPARTMENT REPRESENTATIVE FOR THE R EVENUE SUBMITTED THAT ON GOING THROUGH THE BALANCE SHEET OF M/S. HARRINGT ON TRADERS PVT. LTD. FOR THE YEAR ENDED ON 31.03.2001 IT IS SEEN THAT THE NET WORTH O F THIS COMPANY WAS RS.2,99,98,200/- INCLUDING SHARE CAPITAL AND RESERV ES AND SURPLUS. THE ASSESSEE HAS INVESTMENTS IN SHARES OF RS.1,79,70,000/- AND CURRE NT ASSETS OF RS.1,19,94,698/- WHICH INCLUDES SHARE APPLICATION MONEY OF RS.1,15,00,000/ - (WHICH FURTHER INCLUDES THE SUM OF RS.1 CRORE PAID TO THE ASSESSEE COMPANY M/S. DATAWARE PVT. LTD.). FROM THE DETAILS SUBMITTED, IT IS SEEN THAT M/S. HARRINGTON TRADERS PVT. LTD. HAS SHOWN A HURRIED SALE OF THE ENTIRE STOCK IN TRADE OF RS.63,42,700/- (WHICH WAS SHOWN AS CLOSING STOCK AS ON 31.03.2000 IN THE PRECEDING YEAR ) AFTER HOLD ING THE SAME FOR ABOUT MORE THAN NINE MONTHS IN ONE STROKE TO M/S. LAWRENCE TRADERS LTD. FOR RS.63,48,080/-. THESE 4 WERE 3500 SHARES OF THE GRAMOPHONE CO. OF INDIA LTD ., 2900 SHARES OF GODFREY PHILIPS INDIA LTD. AND 600 SHARES OF SHAWALLACE & C O. LTD. WHICH WERE QUOTED COMPANIES. HOWEVER, THE ASSESSEE HAS NOT SOLD THESE SHARES THROUGH ANY BROKER/STOCK EXCHANGE AND HAS SOLD THEM TO M/S. LAWRENCE TRADERS LTD. IN OFF MARKET DEAL. THIS SOLITARY SALE IS THE SOLE BUSINESS TRANSACTION OF M /S. HARRINGTON TRADERS PVT. LTD. IN THE ENTIRE YEAR, AS IS EVIDENT FROM THE PROFIT AND LOSS ACCOUNT OF M/S. HARRINGTON TRADERS PVT. LTD. IT IS FURTHER SEEN THAT M/S. HARRINGTON T RADERS PVT. LTD. HAS ALSO LIQUIDATED CERTAIN SHARES HELD AS INVESTMENTS [ALSO SEEN IN TH E LIST OF INVESTMENTS AS ON 31/03/2000 FOR THE PRECEDING YEAR] FOR RS.55 LACS. THE ANALYSIS OF THE ACCOUNTS OF M/S. HARRINGTON TRADERS PVT. LTD. REVEALS THAT THESE INV ESTMENTS HAVE BEEN LIQUIDATED AT PAR WITHOUT INCURRING ANY PROFIT AS THE COMPANY HAS NOT ACCOUNTED FOR ANY LONG TERM OR SHORT TERM CAPITAL GAINS. IN ABSENCE OF ANY COMPUTA TION OF LONG TERM CAPITAL GAIN IT IS UNDERSTOOD THAT THESE INVESTMENTS WERE HELD BY M /S. HARRINGTON TRADERS PVT. LTD. AS A SHORT TERM HOLDING FOR LESS THAN ONE YEAR THOUGH THESE ARE SEEN IN THE LIST OF INVESTMENTS AS ON 31.03.2000 FOR THE PRECEDING YEAR . THESE INVESTMENTS WERE ALSO HURRIEDLY LIQUIDATED BY M/S. HARRINGTON TRADERS PVT . LTD. IN ORDER TO MAKE IMPUGNED INVESTMENT IN THE ASSESSEE COMPANY M/S. DATAWARE PVT. LTD. WHICH IS NEITHER A LISTED COMPANY NOR HAS EVER DECLARED ANY DIVIDEND E ITHER BEFORE THE ASSESSEES INVESTMENT OR THEREAFTER. THE SALE OF THESE INVESTM ENTS AT PAR WAS ALSO A HURRIED ONE IN ORDER TO MAKE THE NEW INVESTMENT TO M/S. DATAWARE P VT. LTD. IT IS NOT UNDERSTOOD AS TO WHY M/S. HARRINGTON TRADERS PVT. LTD. WOULD RUSH TO LIQUIDATE ALL ITS CLOSING STOCK AND PART OF INVESTMENTS IN ONE STROKE JUST TO MAKE ANOT HER INVESTMENT IN AN UNLISTED COMPANY M/S. DATAWARE PVT. LTD. WHEN M/S. HARRING TON TRADERS PVT. LTD. IS NOT GOING TO GET ANY DIVIDEND NOR ANY APPRECIATION IN T HE VALUE OF SHARES. FROM ALL THESE, IT EMERGES THAT THESE ARE ONLY FINANCIAL TRANSACTIONS TO FACILITATE THE FUNDS OF RS.1 CRORE BY M/S. HARRINGTON TRADERS PVT. LTD. TO THE ASSESSE E COMPANY M/S. DATWARE PVT. LTD., .IN VIEW OF THE ABOVE, IT IS HELD THAT THE CR EDITWORTHINESS OF M/S. HARRINGTON TRADERS PVT. LTD. AND THE GENUINENESS OF THE IMPUGN ED TRANSACTIONS HAS NOT BEEN ESTABLISHED. THE ADDITION OF RS.1 CRORE IN RESPECT OF SHARE APPLICATION MONEY SAID TO HAVE BEEN RECEIVED FROM M/S. HARRINGTON TRADERS PVT . LTD. MADE BY THE ASSESSING 5 OFFICER IN THE ORIGINAL ASSESSMENT ORDER IS CORRECT AND HENCE IT IS PRAYED TO RESTORE THE SAME. 5. THE LEARNED AUTHORIZED REPRESENTATIVE, SHRI. SU BASH AGARWAL, APPEARING FOR THE ASSESSEE SUBMITTED THAT IT WAS WR ONG ON PART OF THE ASSESSING OFFICER TO ADD SHARE APPLICATION MONEY IN SPITE OF ASSESSEE S SUBMISSION THAT ALL THE QUERIES RAISED BY THE ASSESSING OFFICER IN RESPECT OF SHARE APPLICATION WAS ANSWERED AND IN SPITE OF SHAREHOLDER M/S. HARRINGTON TRADERS PVT. L TD.S PERSONAL APPEARANCE AS WELL AS SUBMISSION OF ALL THE DOCUMENTS AS CALLED FOR BY THE ASSESSING OFFICER. THE SHARE HOLDER, M/S. HARRINGTON TRADERS PVT. LTD., HAD SUB MITTED ALL THE DETAILS OF THE SHARE APPLICATION MONEY, ITS SOURCES AND THEIR OWN I.T. D ETAILS INCLUDING (A) PA NO. AND PRESENT JURISDICTION OF THE ASSESSING OF FICER ASSESSING M/S. HARRINGTON TRADERS PVT. LTD. (B) DETAILS OF SOURCE OF FUND USED IN SHARE APPLICATION MADE TO M/S. DATAWARES PVT. LTD. DURING THE YEAR ENDING 31.3.2001. (C) DETAILS OF SHARE APPLICATION. (D) CREDITWORTHINESS (E) SHARE ALLOTMENT LETTER (F) EXPLANATION REGARDING PURCHASE AND SALE BILL. (G) SUBMISSION OF FOLLOWING DOCUMENTS : I) AUDITED P & L A/C. AND BALANCE SHEET II) RETURN FILING RECEIPT III) XEROX COPY OF BANK STATEMENTS HENCE, THE AFORESAID DETAILS WERE SUFFICIENT TO PRO VE THE GENUINENESS OF THE SHARE APPLICATION MONEY. FROM THE DOCUMENTS AND SUBMISSIO N MADE BY THE SHAREHOLDER M/S. HARRINGTON TRADERS PVT. LTD., THE MAIN THREE INGRED IENTS, WHICH ARE NECESSARY FOR PROVIDING THE TRANSACTIONS, ARE PROVED. THE INGREDI ENTS ARE: (A) THE COMPANY IS ASSESSED TO TAX VIDE RETURN FILING R ECEIPT FILED WITH THE AO (B) THE COMPANY IS SITUATED AT REGD. OFFICE WHERE THE N OTICES WERE SENT AND SERVED AND THE ADDRESS IS IN THE I.T.RECORD. 6 CREDITWORTHINESS OF THE COMPANY : (A) THE SHAREHOLDER HAS APPLIED FOR SHARES OUT OF THEIR OWN FUND. (B) THE CREDITWORTHINESS OF THE COMPANY CAN BE ASCERTAI NED FROM THE AUDITED PROFIT AND LOSS ACCOUNT AND BALANCE SHEET FILED DURING ASS ESSMENT AND APPELLATE PROCEEDINGS. (C) THE COMPANY HAS APPLIED FOR THE SHARES AND PAYMENTS THEREOF WAS MADE OUT OF FUND RECEIVED FROM SALE OF SHARES AS CAN BE SEEN FR OM THE XEROX COPY OF DETAILS OF SHARES SOLD AND BANK STATEMENTS. GENUINENESS OF THE TRANSACTION : (A) THE TRANSACTIONS ARE BY AN INCOME TAX ASSESSEE. (B) THE TRANSACTIONS ARE DONE OUT OF THE FUND RECEIVED AGAINST SALE OF SHARES. THE ASSESSING OFFICER HAS OBSERVED THAT M/S. HARRIN GTON TRADERS PVT. LTD. HURRIEDLY SOLD THE SHARES AT PAR AND PAID TOWARDS SHARE APPLI CATION TO M/S. DATAWARE PVT. LTD. THE ASSESSING OFFICER IS NOT SUPPOSED TO KNOW WHY T HE SHARES ARE SOLD AND WHY THE PROCEEDS WERE USED IN SHARE APPLICATION. IT IS THE COMPANY WHO KNOWS BETTER. THIS WRONG CONCEPTION AND THINKING ABOUT THE BUSINESS AF FAIRS OF A PERSON NOT GOOD SO FAR THE ASSESSING OFFICE HAS TO DECIDE THE ISSUE BUT NO T TO DISCUSS ABOUT THE BUSINESS AFFAIRS OF THE COMPANY. M/S. HARRINGTON TRADERS PVT. LTD. M ADE SHARE APPLICATION IN DATAWARE PVT. LTD. FOR THE REASONS BEST KNOWN TO TH EM OR MAY BE THAT IT IS A DISTRIBUTOR OF SONY PRODUCTS THAT MAY BE FRUITFUL IN THE LONG R UN. THUS THIS WRONG CONCEPTION AND THINKING OF THE ASSESSING OFFICER MADE HIM TO DISAL LOW AND ADD THE SHARE APPLICATION MONEY OF RS.1,00,00,000.00 TO THE DATAWARE PVT. LTD . AS INCOME FORM OTHER SOURCE WHICH IS NOT CORRECT. BESIDES, THE ABOVE SUBMISSION , THE LEARNED COUNSEL FOR THE ASSESSEE ALSO RELIED ON VARIOUS DECISIONS INCLUDING THAT OF JUDGEMENT OF HON. APEX COURT IN CASE OF CIT VS. STELLAR INVESTMENT LTD. ( 2001) 251 ITR 263 (SC). 6. WE HAVE HEARD THE RIVAL SUBMISSIONS AND PERUSED THE MATERIALS AVAILABLE ON RECORD AND ALSO THE DECISIONS RELIED ON BY BOTH THE PARTIES. WE FIND THAT THE MAIN THREE INGREDIENTS, WHICH ARE NECESSARY FOR PROVIDIN G THE TRANSACTIONS, ARE PROVED. THE INGREDIENTS, IDENTITY OF THE SHAREHOLDER, CREDITWOR THINESS OF SHAREHOLDER AND 7 GENUINENESS OF THE TRANSACTION ARE ALL PROVED IN TH E CASE UNDER CONSIDERATION. IDENTITY OF THE SHAREHOLDER WAS PROVED BY WAY OF PERSONAL AP PEARANCE OF THE DIRECTOR OF THE SHAREHOLDER COMPANY. THE SHAREHOLDER HAS PROVIDED T HEIR CONFIRMATION, PAN DETAILS AND REGISTERED OFFICE ADDRESS TO THE ASSESSING OFFI CER. THE CREDITWORTHINESS OF THE SHAREHOLDER WAS PROVED AS THE SHAREHOLDER INVESTED THE SHARE APPLICATION OUT OF HIS OWN FUNDS. THE ASSESSING OFFICER IS NOT EXPECTED TO KNOW WHY THE SHARES ARE SOLD AND WHY THE PROCEEDS WERE USED IN SHARE APPLICATION. IT IS THE COMPANY WHO KNOWS ITS BUSINESS BETTER. THIS WRONG ASSUMPTION OF JURISDICT ION OVER THE BUSINESS AFFAIRS OF THE COMPANY BY THE ASSESSING OFFICER WAS NOT GOOD SO FA R THE ASSESSING OFFICER HAS TO DECIDE THE ISSUE IN HIS HAND, BUT NOT TO DISCUSS AB OUT THE BUSINESS AFFAIRS OF THE COMPANY. GENUINENESS OF THE TRANSACTION WAS ALSO PR OVED IN THIS CASE, AS THE SHAREHOLDER HAS CONFIRMED THE TRANSACTION AND ITS O WN FUNDS ARE USED FOR INVESTMENT. THE DEPARTMENT CANNOT EXPECT FROM THE ASSESSEE COMP ANY TO PROVE THE SOURCES OF THE SOURCE. WE FIND THAT THE ASSESSEE COMPANY HAS DISCH ARGED THE PRIMARY ONUS CAST UPON IT AND PROVED THE IDENTITY OF THE PERSON WHO INVEST ED THE MONEY. BUT IF THE ASSESSING OFFICER FAILS TO UNEARTH ANY WRONG OR ILLEGAL DEALI NGS, HE CAN NOT OBDURATELY ADHERE TO HIS SUSPICIONS AND TREAT THE SHARE APPLICATION MONE Y AS UNDISCLOSED INCOME OF THE ASSESSEE COMPANY. WHILE SECTION 68 OF THE ACT PLACE S THE BURDEN OF PROOF ON THE ASSESSEE COMPANY TO EXPLAIN THE NATURE AND SOURCE O F THE CREDIT FOUND IN THE BOOKS, THIS AT BEST CAN BE THE INITIAL BURDEN VIZ. IDENTIT Y OF THE PERSONS WHO INVESTED, AND WHERE THE EXPLANATION IS PRIMA FACIE CREDIBLE, THE BURDEN SHIFTS TO THE DEPARTMENT. IN THE CASE UNDER CONSIDERATION, NO COGENT EVIDENCE WA S BROUGHT ON RECORD TO SHOW THAT THE ASSESSEE COMPANY ROUTED ITS UNACCOUNTED INCOME THROUGH SHARE APPLICATION MONEY. IN VIEW OF THE ABOVE, AFTER CONSIDERING THE TOTALITY OF THE FACTS AND CIRCUMSTANCES OF THE CASE, WE SEE NO INFIRMITY IN T HE ORDER OF THE FIRST APPELLATE AUTHORITY IN DELETING THE AFORESAID ADDITION. WE CO NFIRM HIS ORDER. WE ALSO SEE MERIT IN THE OBSERVATION OF THE CIT [A] THAT IF THE SELLI NG OF SHARES AT BELOW MARKET RATE BY HTPL HAS ANY IMPLICATIONS FROM THE INCOME-TAX ANGLE , THE ASSESSING OFFICER CAN TAKE ACTION ON HTPL IF SO ADVISED. 8 7. IN THE RESULT, THE APPEAL OF THE REVENUE IS DIS MISSED. ORDER PRONOUNCED IN THE COURT ON 13.05.2011 SD/- SD/- , , , , MAHAVIR SINGH, JUDICIAL MEMBER ! ! ! !, , , , '# '# '# '# , AKBER BASHA, ACCOUNTANT MEMBER. ( (( (1# 1# 1# 1#) )) ) DATE: 13.05.2011. '! / -2 3'2'4- COPY OF THE ORDER FORWARDED TO: 1. M/S. DATAWARE PVT. LTD., 26, SHAKESPEARE SARANI, KO LKATA-700017. 2 THE A.C.I.T., CIRCLE-7, KOLKATA 3. THE CIT, 4. THE CIT(A)-XIII, KOLKATA. 5. DR, KOLKATA BENCHES, KOLKATA .2 -/ TRUE COPY, '!%:/ BY ORDER, DEPUTY /ASST. REGISTRAR , ITAT, KOLKATA BENCHES R.G.(.P.S.)