DCIT, Central Circle - VII, Kolkata, Kolkata V. M/s. Jaishree Commotrade (P) Ltd, Kolkata

ITA 82/KOL/2011

• Counselvise Citation: 8223514 RSA 2011
• Duration Of Justice: 3 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-05-2011
• Appeal Filed By: Department
• Bench Allotted: B
• Next Hearing Date: 03-05-2011
• Assessment Year: 2005-2006
• Appeal Filed On: 11-01-2011
• Court: TRIBUNAL
• Department Lawyers: S SMT A MUKHERJEE
• Assessee Lawyers: SUBASH AGARWAL
• Section: 131

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH- B , KOLKATA [ . . . . . . . . , ,, , , , , , !' ] [BEFORE SHRI B.R.MITTAL , JUDICIAL MEMBER & SRI AKBER BASHA , ACCOUNTANT MEMBER] # # # # / ITA NOS. 74& 75(KOL) OF 2011 $%& '(/ ASSESSMENT YEARS 2006-07 & 2007-08 D.C.I.T., CENTRAL CIRCLE-VII, KOLKATA . M/S.CL;IX SECURITIES (P) LTD. (PAN-AABCC 0641 B) (+, / APPELLANT ) - % - VERSUS - (/0+,/ RESPONDENT ) # # # # / ITA NOS. 76 & 77 (KOL) OF 2011 $%& '(/ ASSESSMENT YEARS 2006-07 & 2007-08 D.C.I.T., CENTRAL CIRCLE-VII, KOLKATA . M/S.HOOGHLY VINIMAY (P) LTD. (PAN-AAACH 7761 G) (+, / APPELLANT ) - % - VERSUS - (/0+,/ RESPONDENT ) # # # # / ITA NOS. 78 & 79(KOL) OF 2011 $%& '(/ ASSESSMENT YEARS 2006-07 & 2007-08 D.C.I.T., CENTRAL CIRCLE-VII, KOLKATA . M/S.MAINIK VANIJYA (P) LTD. (PAN-AAECM 3845 J) (+, / APPELLANT ) % - VERSUS - (/0+,/ RESPONDENT ) # # # # / ITA NOS. 80 & 81(KOL) OF 2011 $%& '(/ ASSESSMENT YEARS 2006-07 & 2007-08 D.C.I.T., CENTRAL CIRCLE-VII, KOLKATA . M/S.DABRIWAL INVESTMENT & FINANCER (P) LTD. (PAN-AAACD 9089 K) (+, / APPELLANT ) % - VERSUS - (/0+,/ RESPONDENT ) # # # # / ITA NOS. 82,83 & 84(KOL) OF 2011 $%& '(/ ASSESSMENT YEARS 2005-06, 2006-07 & 2007-08 D.C.I.T., CENTRAL CIRCLE-VII, KOLKATA . M/S.JAISHREE COMMOTRADE (P) LTD. (PAN-AAACJ 7907 N) (+, / APPELLANT ) % - VERSUS - (/0+,/ RESPONDENT ) 2 +, 1 2 !/ FOR THE APPELLANTS: / SMT.A.MUKHERJEE /0+, 1 2 !/ FOR THE RESPONDENT: / SRI SUBASH AGARWAL ! / ORDER ( (( ( 34 34 34 34) )) ), , , , PER BENCH THESE ELEVEN APPEALS BY THE DEPARTMENT FOR ALL THE FIVE ASSESSES MENTIONED ABOVE, ARE FILED AGAINST SEPARATE ORDERS OF THE C.I .T.(A), CENTRAL-I, KOLKATA, ALL DATED 29.10.2010, RELATING TO ASSESSMENT YEARS 2005-06, 2 006-07 AND 2007-08. SINCE THE FACTS OF THE CASE AND GROUNDS OF APPEAL IN ALL THES E APPEALS ARE IDENTICAL AND SIMILAR IN NATURE, ALL THE ELEVEN APPEALS ARE DISPOSED OF BY A CONSOLIDATED ORDER FOR THE SAKE CONVENIENCE. FIRST, WE DEAL WITH APPEAL FILED BY TH E REVENUE IN ITA NO.74 & 75/KOL/2011. ITA NOS. 74 & 75/KOL/2011 2. IN THIS APPEAL THE REVENUE HAS TAKEN THE FOL LOWING GROUNDS OF APPEAL:- 1. THAT IN FACTS AND CIRCUMSTANCES OF THE CASE LD .CIT (A) HAD ERRED IN DELETING THE ADDITION MADE ON PROTECTIVE BASIS OF R S.12,47,26,500/- BY WAY OF IGNORING THE STATEMENT MADE BY THE DIRECTOR OF THE ASSESSEE COMPANY BEFORE DDIT (INV.), KOLKATA. 2. THAT IN FACTS AND CIRCUMSTANCES OF THE CASE LD. CIT(A) HAD ERRED IN DELETING THE 2% COMMISSION INCOME OF RS.24,94,530/- FOR ENTR Y PROVIDED BY THE ASSESSEE COMPANY WHICH IS BASED ON A CASE UNEARTHED BY THE D DIT(INV.), KOLKATA AND DECIDED BY THE HONBLE ITAT, KOLKATA. 3. THAT ON FACTS AND CIRCUMSTANCES OF THE CASE LD.C IT(A) HAD ERRED IN DELETING THE CASH AMOUNT OF RS.6,10,000/- DEPOSITED IN TO TH E BANK WITHOUT CONSIDERING THE FACT THAT THE SOURCES OF DEPOSIT WERE NOT EXPLA INED BEFORE THE ASSESSING OFFICER. 3. AT THE TIME OF HEARING OF THESE CASES, THE LEA RNED DEPARTMENTAL REPRESENTATIVE POINTED OUT SOME FACTUAL DISCREPANCI ES IN THE AFFIDAVIT SWORN BY THE DIRECTOR OF THE ASSESSEE-COMPANY. WE FIND THAT THE ASSESSEE RETRACTED ITS STATEMENT ON 3 24.12.2007 UNDER SECTION 131 OF THE ACT BEFORE THE DEPARTMENT STATING THAT THE STATEMENT RECORDED ON 22.02.2007 BY DDIT [INV.,] WA S UNDER DURESS AND COERCION AND HE HAS NOT RECEIVED ANY CASH FROM ANY PERSON ON BEH ALF OF THE COMPANIES IN WHICH HE IS THE DIRECTOR AND HE WAS MADE BOUND TO PUT HIS SI GNATURE ON THE COMPUTERIZED SHEET WHERE SOME STATEMENTS WERE TYPED. HE HAS RETRACTED THE SAME BY SWEARING AN AFFIDAVIT BEFORE THE NOTARY PUBLIC AT KOLKATA IN SUPPORT OF H IS CLAIM. WHEREAS THE DIRECTOR OF THE COMPANY ACTUALLY SWORN THE AFFIDAVIT ONLY ON 8 TH DECEMBER, 2008 WHICH IS NEARLY ONE YEAR AFTER THE STATEMENT UNDER SECTION 131 OF T HE ACT, BY THE DIRECTOR OF THE ASSESSEE-COMPANY. THE LEARNED COUNSEL FOR THE ASSES SEE HAS NOT DISPUTED THE FACTUAL DISCREPANCY POINTED OUT BY THE LEARNED DEPARTMENTAL REPRESENTATIVE AND SIMPLY SUBMITTED THAT THE FACTS REQUIRES SOME ENQUIRY FROM HIS SIDE. IT IS ALSO BROUGHT TO OUR KNOWLEDGE THAT THE SUBSTANTIVE ASSESSMENTS MADE BY THE ASSESSING OFFICER FOR THE RELATED TRANSACTION IN CASE OF OTHER ASSESSEES STIL L NOT REACHED THE FINALITY. UNDER THIS CIRCUMSTANCES, WE FEEL IT PROPER AND JUST TO REMIT THE ENTIRE ISSUES BACK TO THE FILE OF THE CIT (A) FOR FRESH CONSIDERATION IN ACCORDANCE W ITH LAW AFTER GETTING THE DETAILED REMAND REPORT FROM THE ASSESSING OFFICER IN THIS RE GARD AND ALSO AFTER GIVING PROPER OPPORTUNITY TO THE ASSESSEE OF BEING HEARD. 4. IN THE RESULT THE APPEALS FILED BY THE REVENUE ARE TREATED AS ALLOWED FOR STATISTICAL PURPOSES. ITA NOS.76 TO 84/KOL/2011 5. WE FIND THAT IDENTICAL AND SIMILAR FACTS ARE IN VOLVED IN THESE APPEALS AS IN THE CASE OF M/S. CLIX SECURITIES IN ITA NO.74 & 75/KOL/2011. AS PER THE REASONING GIVEN IN THE PRECEDING PARAGRAPH, WE RESTORE ALL TH ESE MATTERS TO THE FILE OF THE CIT (A) AS INDICATED ABOVE FOR FRESH CONSIDERATION. ALL THE APPEALS OF THE REVENUE ARE TREATED AS ALLOWED FOR STATISTICAL PURPOSES. 4 6. IN THE RESULT, ALL THE ELEVEN APPEALS FILED BY THE REVENUE ARE ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON _03.05.2011. SD/- SD/- . .. . . .. .$ $ $ $, , , , $ $ $ $ B.R.MITTAL, JUDICIAL MEMBER , ,, , !' !' !' !' , AKBER BASHA, ACCOUNTANT MEMBER. ( (( (5' 5' 5' 5') )) ) DATE: 03.05.2011. ! 1 /$$6 7!6'8- COPY OF THE ORDER FORWARDED TO: 1. M/S.CLIX SECURITIES (P) LTD., 51, NALINI SETH ROAD, KOLKATA-700007. 2 M/S.HOOGHLY VINIMAY (P) LTD., 39, KALI KRISHNA TAGO RE STREET, KOLKATA- 700007. 3. M/S. MAINAK VANIJYA (P) LTD.,9, MANGOE LANE, KOLKAT A-700001. 4 . M/S. DABRIWAL INVESTMENT & FINANCIERS PVT. LTD.,39, KALIKRISHNA TAGORE STREET, KOLKATA-700007. 5. M/S. JAISHREE COMMOTRADE (P) LTD.,10A, HOSPIT AL STREET, KOLKATA-700072. 6. THE D.C.I.T., CENTRAL CIRCLE-VII, KOLKATA 7. THE CIT, 8. THE CIT(A)-CENTRAL-I, KOLKATA. 9. DR, KOLKATA BENCHES, KOLKATA 06 /$/ TRUE COPY, ! %