M/s. Babylon Trading & Investment Pvt. Ltd., Kolkata V. ITO, Ward 9(2), Kolkata, Kolkata

ITA 991/KOL/2017

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 1769 (ITAT-KOLKATA)
• Duration Of Justice: 8 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-01-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 09-05-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Revision of order
• Section: 143(3); 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : KOLKATA [BEFORE HONBLE SHRI N.V.VASUDEVAN, JM & HONBLE SHRI WASEEM AHMED, AM ] I.T.A NO. 991/KOL/2017 ASSESSMENT YEAR : 2012-1 3 M/S BABYLON TRADING & INVESTMENT PVT. LTD. -VS - ITO, WARD-9(2), KOLKATA [PAN : AABCB 2826 R] (APPELLANT) (RESPONDENT) FOR THE APPELLANT : PARNASHREE BANERJE E, ADVOCATE FOR THE RESPONDENT : MD. USMAN, CIT DR DATE OF HEARING : 16.01.2018 DATE OF PRONOUNCEMENT : 16.01.2018 ORDER PER WASEEM AHMED, AM: 1. THIS APPEAL BY THE ASSESSEE ARISES OUT OF THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-3, KOLKATA [IN SHORT THE LD CITA] DATED 20.03.2017 PASSED AGAINST THE ORDERS PASSED BY THE I.T.O.,WARD-9(2), KOLKATA [IN SHORT THE LD. AO] UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961 (HEREIN AFTER REFERRED TO AS THE ACT) DATED 29.09.2014 FOR THE ASSESSMENT YEAR 2012-13. 2.THE ASSESSEE HAS RAISED FOLLOWING GROUNDS OF APPE AL: 1. FOR THAT THE ORDER OF THE LD. PR. CIT IS ARBITR ARY, ILLEGAL AND BAD IN LAW. 2. FOR THAT THE ORDER OF THE LD. PR. CIT IS BARRED BY LIMITATION. 3.FOR THAT THE LD. PR. CIT ERRED IN NOT CONSIDERING THE SUBMISSIONS MADE IN RESPONSE TO NOTICE U/S 263 EVEN THOUGH THE SAME WAS RECEIVED BY THE LD. PR. CIT. 2 ITA NO.991/KOL/2017 M/S BABYLON TRADING & INVESTMENT PVT. LTD. A.YR.2012-13 2 4. FOR THAT THE LD. PR. CIT ERRED IN INVOKING THE P ROVISIONS OF SECTION 263 WHEN THE AO APPLIED HIS MIND AND COMPLETED THE ASSESSMEN T AFTER MAKING ENQUIRIES IN ACCORDANCE WITH LAW. 5. FOR THE ON THE FACTS AND CIRCUMSTANCES OF THE CA SE THE LD. PR. CIT ERRED IN PASSING THE ORDER U/S 263 WHEN THE ORDER WAS NOT ER RONEOUS AND PREJUDICIAL TO THE INTEREST OF REVENUE. 6. FOR THAT ON THE FACTS AND CIRCUMSTANCES OF THE C ASE THE ORDER OF THE PR.CIT BE MODIFIED AND THE ASSESSEE BE GIVEN THE RELIEF PRAYE D FOR. 7. FOR THAT THE ASSESSEE CRAVES LEAVE TO ADD, ALTER OR AMEND ANY GROUND BEFORE OR AT THE TIME OF HEARING. 3. AT THE OUTSET, THE LD. AR FOR THE ASSESSEE SUBMI TTED THAT HE HAS BEEN INSTRUCTED TO WITHDRAW THE APPEAL FILED BEFORE THE HONBLE ITAT. IN THIS REGARD THE LD. AR HAS FILED AN WITHDRAWAL APPLICATION VIDE DATED 12.01.2018 WHI CH IS REPRODUCED BELOW: TO, THE HONBLE MEMBERS, INCOME-TAX APPELLATE TRIBUNAL, B BENCH, 225/C, A.J.C. BOSE ROAD, KOLKATA-700020. REG: I.T.A. NO. 991/KOL/2017- ASSESSMENT YEAR 2012-13 M/S BABYLON TRADING & INVESTMENT PVT. LTD. VS. I.T.O., WARD-9(2), KOLKATA HONBLE SIRS, KINDLY REFER TO THE ABOVE. AN APPEAL AGAINST THE OR DER PASSED BY LD. PRINCIPAL COMMISSIONER OF INCOME-TAX, KOLKATA-3, U/S 263 OF T HE INCOME TAX ACT, 1961 FOR A.Y. 2012-13 IN THE CASE OF THE SAID APPELLANT COMPANY H AS BEEN FILED BEFORE THIS HONBLE TRIBUNAL, WHICH IS NOW FIXED FOR HEARING BEFORE B BENCH ON 16.01.2018. I HAVE BEEN AUTHORIZED TO REPRESENT THE SAID APPEAL BEFORE THIS HONBLE TRIBUNAL. VAKALATNAMA IS ENCLOSED HEREWITH. I AM DIRECTED TO INTIMATE THAT THE APPELLANT- COMPANY INTEND TO WITHDRAW THE SAID APPEAL IN I.T.A . NO. 991/KOL/2017 AND IT IS, THEREFORE, HUMBLY PRAYED TO ALLOW THE APPELLANT TO WITHDRAW THE SAME AND OBLIGE. UNDERSIGNED APOLOGIZES FOR THE INCONVENIENCE CAUSE D TO THE HONBLE TRIBUNAL. 3 ITA NO.991/KOL/2017 M/S BABYLON TRADING & INVESTMENT PVT. LTD. A.YR.2012-13 3 THANKING YOU, YOURS FAITHFULLY FOR, S.K. TULSYAN & CO. ON THE OTHER HAND, THE LD. DR RAISED NO OBJECTION I F THE APPEAL IS WITHDRAWN BY THE ASSESSEE. IN VIEW OF THE ABOVE, WE DISMISS THE APPE AL FILED BY THE ASSESSEE AS WITHDRAWN. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS DIS MISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE COURT ON 16.01.2018. SD/- SD/- [N.V.VASUDEVAN] [ WASEEM AHMED] JUDICIAL MEMBER ACCOUNTANT MEM BER DATED : 16.01.2018 SB, SR. PS COPY OF THE ORDER FORWARDED TO: 1. M/S BABYLON TRADING & INVESTMENT PVT. LTD., 14C, MAHARSHI DEVENDRA ROAD, 4 TH FLOOR, KOLKATA-700007. 2. ITO, WARD-9(2), KOLKATA, P-7, CHOWRINGHEE SQUARE , AAYAKAR BHAWAN, KOLKATA- 700069. 3.CIT(A)- KOLKATA 4. CIT-KOLKATA 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER SENIOR PRIVA TE SECRETARY HEAD OF OFFICE/ D.D.O., ITAT KOLKATA BENCHE S 4 ITA NO.991/KOL/2017 M/S BABYLON TRADING & INVESTMENT PVT. LTD. A.YR.2012-13 4