ACIT, CC-3(1), KOLKATA, Kolkata V. M/s Visa International Limited, Kolkata

ITSSA 61/KOL/2015

• Counselvise Citation: [2016] 122 COUNSELVISE.COM (IT) 2601 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 7 month(s) 27 day(s)
• Appeal Type: Income Tax (Search & Seizure) Appeal
• Pronouncement Date: 16-11-2016
• Appeal Filed By: Department
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 20-03-2015
• Court: TRIBUNAL
• Department Lawyers: R S BISWAS CIT LD
• Assessee Lawyers: A K TULSIYAN FCA LD
• Keywords: Depreciation; Search and seizure; Audit objection; Tax effect; Reason to believe
• Section: 143(3); 142(1); 153A; 14A; 132

Judgement Text

1 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH: KOL KATA BEFORE: SHRI M. BALAGANESH, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIA L MEMBER I.T(SS).A NOS. 61 TO 63/KOL/2015 ASSESSMENT YEARS: 2008-09 TO 2010-11 ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3(1), KOLKATA APPELLANT VS M/S VISA INTERNATIONAL LTD VISA HOUSE, 8/10, ALIPORE ROAD KOLKATA-700027 PAN: AAACV8649P RESPONDENT DATE OF HEARING: 25-10-2016 DATE OF PRONOUNCEMENT:16-11-2016 FOR THE APPELLANT: SHRI R.S.BISWAS, CIT, LD. DR FOR THE RESPONDENT: SHRI A.K.TULSIYAN, FCA, LD.A R ORDER SHRI S.S.VISWANETHRA RAVI ALL THESE THREE APPEALS BY REVENUE ARE ARISING OUT OF SEPARATE ORDERS DATED 15-01-2015 OF CIT(A)-21, KOLKATA. ASSE SSMENT WAS FRAMED BY DCIT, CC-I, KOLKATA U/S.153A/143(3) OF THE INCOM E TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR AYS 2008 -09 TO 2010-11 VIDE HIS SEPARATE ORDERS DATED 28-03-2013. SINCE GROUNDS AR E COMMON EXCEPT VARIANCE IN AMOUNT AND FOR THE SAKE OF BREVITY, WE DISPOSE OF ALL THE APPEALS BY THIS CONSOLIDATED ORDER. 2 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED 2. FIRST, WE SHALL TAKE UP THE APPEAL IN IT(SS) 63/ KOL/2015 FOR THE A.Y 2010-11 ( BY THE REVENUE). IT(SS) NO. 63/KOL/2015 A.Y 2010-11 3. IT IS SEEN FROM THE PERUSAL OF THE RECORDS THA T THE TOTAL TAX EFFECT ON THE ADDITIONS DISPUTED BEFORE US IS ADMITTEDLY BELOW THE TAX EFFECT LIMIT PRESCRIBED BY CBDT VIDE CIRCULAR NO. 21 / 20 15 DATED 10.12.2015 FOR PREFERRING APPEAL(S) BEFORE TRIBUNAL BY THE RE VENUE. IT WILL BE PERTINENT TO REPRODUCE THE RELEVANT PORTION OF THE SAID CIRCULAR NO. 21 / 2015 DATED 10.12.2015 :- 3. HENCEFORTH, APPEALS / SLPS SHALL NOT BE FILED IN CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE MONETARY LIMITS GIVE N HEREUNDER:- S.NO. APPEALS IN INCOME TAX MATTERS MONETARY LIMIT (IN RS) 1 BEFORE APPELLATE TRIBUNAL 10,00,000/- 2 BEFORE HIGH COURT 20,00,000/- 3 BEFORE SUPREME COURT 25,00,000/- IT IS CLARIFIED THAT AN APPEAL SHOULD NOT BE FILED MERELY BECAUSE THE TAX EFFECT IN A CASE EXCEEDS THE MONETARY LIMITS PR ESCRIBED ABOVE. FILING OF APPEAL IN SUCH CASES IS TO BE DECIDED ON MERITS OF THE CASE. 4. FOR THIS PURPOSE, TAX EFFECT MEANS THE DIFFERE NCE BETWEEN THE TAX ON THE TOTAL INCOME ASSESSED AND THE TAX THAT W OULD HAVE BEEN CHARGEABLE HAD SUCH TOTAL INCOME BEEN REDUCED BY TH E AMOUNT OF INCOME IN RESPECT OF THE ISSUES AGAINST WHICH APPEA L IS INTENDED TO BE FILED (HEREINAFTER REFERRED TO AS DISPUTED ISSU ES). HOWEVER, THE TAX WILL NOT INCLUDE ANY INTEREST THEREON, EXCEPT W HERE CHARGEABILITY OF INTEREST ITSELF IS IN DISPUTE. IN CASE THE CHAR GEABILITY OF INTEREST IS THE ISSUE UNDER DISPUTE, THE AMOUNT OF INTEREST SHA LL BE THE TAX EFFECT. IN CASES WHERE RETURNED LOSS IS REDUCED OR ASSESSED AS INCOME, THE TAX EFFECT WOULD INCLUDE NOTIONAL TAX O N DISPUTED ADDITIONS. IN CASE OF PENALTY ORDERS, THE TAX EFF ECT WILL MEAN QUANTUM OF PENALTY DELETED OR REDUCED IN THE ORDER TO BE APPEALED AGAINST. 5. THE ASSESSING OFFICER SHALL CALCULATE THE TAX EF FECT SEPARATELY FOR EVERY ASSESSMENT YEAR IN RESPECT OF THE DISPUTED IS SUES IN THE CASE 3 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED OF EVERY ASSESSEE. IF, IN THE CASE OF AN ASSESSEE, THE DISPUTED ISSUES ARISE IN MORE THAN ONE ASSESSMENT YEAR , APP EAL, CAN BE FILED IN RESPECT OF SUCH ASSESSMENT YEAR OR YEARS IN WHIC H THE TAX EFFECT IN RESPECT OF THE DISPUTED ISSUES EXCEEDS THE MONET ARY LIMIT SPECIFIED IN PARA 3. NO APPEAL SHALL BE FILED IN RESPECT OF AN ASSESSMENT YEAR OR YEARS IN WHICH THE TAX EFFECT IS LESS THAN THE MONETARY LIMIT SPECIFIED IN PARA 3. IN OTHER WORDS , HENCEFORTH, APPEALS CAN BE FILED ONLY WITH REFERENCE TO THE TAX EFFECT IN THE RELEVANT ASSESSMENT YEAR. HOWEVER, IN CASE OF A C OMPOSITE ORDER OF ANY HIGH COURT OR APPELLATE AUTHORITY, WHICH INV OLVES MORE THAN ONE ASSESSMENT YEAR AND COMMON ISSUES IN MORE THAN ONE ASSESSMENT YEAR, APPEAL SHALL BE FILED IN RESPECT O F ALL SUCH ASSESSMENT YEARS EVEN IF THE TAX EFFECT IS LESS T HAN THE PRESCRIBED MONETARY LIMITS IN ANY OF THE YEAR(S), IF IT IS DEC IDED TO FILE APPEAL IN RESPECT OF THE YEAR(S) IN WHICH TAX EFFECT EXCEED S THE MONETARY LIMIT PRESCRIBED. IN CASE WHERE A COMPOSITE ORDER / JUDGEMENT INVOLVES MORE THAN ONE ASSESSEE, EACH ASSESSEE SHAL L BE DEALT WITH SEPARATELY. 8. ADVERSE JUDGEMENTS RELATING TO THE FOLLOWING ISS UES SHOULD BE CONTESTED ON MERITS NOTWITHSTANDING THAT THE TAX EF FECT ENTAILED IS LESS THAN THE MONETARY LIMITS SPECIFIED IN PARA 3 A BOVE OR THERE IS NO TAX EFFECT: (A) WHERE THE CONSTITUTIONAL VALIDITY OF THE PROVISIONS OF AN ACT OR RULE ARE UNDER CHALLENGE, OR (B) WHERE BOARDS ORDER, NOTIFICATION, INSTRUCTION OR C IRCULAR HAS BEEN HELD TO BE ILLEGAL OR ULTRA VIRES, OR (C) WHERE REVENUE AUDIT OBJECTION IN THE CASE HAS BEEN ACCEPTED BY THE DEPARTMENT, OR (D) WHERE THE ADDITION RELATES TO UNDISCLOSED FOREIGN A SSETS / BANK ACCOUNTS. 10. THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO BE FILED HENCEFORTH IN HIGH COURTS/ TRIB UNALS. PENDING APPEALS BELOW THE SPECIFIED TAX LIMITS IN PARA 3 AB OVE MAY BE WITHDRAWN / NOT PRESSED. APPEALS BEFORE THE SUPREM E COURT WILL BE GOVERNED BY THE INSTRUCTIONS ON THIS SUBJECT, OPERA TIVE AT THE TIME WHEN SUCH APPEAL WAS FILED. 3.1 WE FIND THAT INTENTION BEHIND THE CIRCULAR NO.2 1/2015 DATED 10-12- 2015 NEEDS TO BE UNDERSTOOD IN THE FOLLOWING PERSPE CTIVE:- 4 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED 3.2 ON PERUSAL OF THE CIRCULAR NO. 21 / 2015 DATED 10.12.2015 AND THE MATERIALS AVAILABLE ON RECORD, WE COULD NOT SEE WHE THER THE IMPUGNED CASE FALLS UNDER ANY OF THE EXCEPTIONS CONTEMPLATED IN THE SAID CIRCULAR. WE ALSO FIND THAT THE CIRCULAR MAKES IT VERY CLEAR THAT THE REVISED MONETARY LIMITS SHALL APPLY RETROSPECTIVELY TO PEND ING APPEALS ALSO. WE FIND THAT THE CIRCULAR IS BINDING ON THE TAX AUTHOR ITIES. THIS POSITION HAS BEEN CONFIRMED BY THE HONBLE APEX COURT IN THE CASE OF COMMISSIONER OF CUSTOMS VS INDIAN OIL CORPORATION L TD REPORTED IN 267 ITR 272 (SC) WHEREIN THEIR LORDSHIPS EXAMINED THE EARLIER DECIS IONS OF THE APEX COURT WITH REGARD TO BINDING NATURE OF THE CIRCULARS AND LAID DOWN THAT WHEN A CIRCULAR ISSUED BY THE BOARD REMAI NS IN OPERATION THEN THE REVENUE IS BOUND BY IT AND CANNOT BE ALLOWED TO PLEAD THAT IT IS NOT VALID OR THAT IT IS CONTRARY TO THE TERMS OF THE ST ATUTE. HENCE WE HOLD THAT THE APPEAL(S) OF THE REVENUE DESERVE TO BE DISMISSE D IN TERMS OF LOW TAX EFFECT VIDE CIRCULAR NO.21 / 2015 DATED 10.12.2015. ACCORDINGLY, THIS BEING A LOW TAX EFFECT CASE, WE DISMISS THE APPEAL OF THE REVENUE IN LIMINE, AS UNADMITTED, WITHOUT GOING INTO THE MERIT S OF THE CASE. THE APPEAL OF THE REVENUE IS DISMISSED. 4. THE APPEAL OF THE REVENUE IN IT(SS) NO.63/KOL/20 15 FOR THE A.Y 2010-11 IS DISMISSED. 5. NOW, WE SHALL TAKE UP THE APPEALS IN IT(SS) NOS. 61 & 62/KOL/2015 FOR THE A.YS 2008-09 & 2009-10. IT(SS) NOS. 61 & 62/KOL/2015 A.YS 2008-09 & 2009-10 6. THE FIRST ISSUE TO BE DECIDED IN THESE APPEALS I S THAT AS TO WHETHER THE CIT-A IS JUSTIFIED IN DELETING THE ADDITIONS M ADE BY CHANGING THE HEADS OF INCOME AND VARIOUS DISALLOWANCES OF EXPENS ES SUCH AS DEPRECIATION, REPAIRS, MAINTENANCE, ELECTRICITY CHA RGES AND U/S 14A OF THE ACT IN THE SEARCH ASSESSMENTS FRAMED U/S 153A OF TH E ACT IN THE ABSENCE 5 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED OF ANY INCRIMINATING MATERIAL FOUND DURING THE COUR SE OF SEARCH TO THAT EFFECT. 7. THE BRIEF FACTS OF THIS ISSUE IS THAT THERE WAS A SEARCH AND SEIZURE OPERATION CONDUCTED U/S 132 OF THE ACT ON 11.11.201 0 IN ORISSA, WEST BENGAL AND CHHATISHGARH OF THE VISA GROUP. THE GRO UP IS PRIMARILY ENGAGED IN THE BUSINESS OF CONSULTANCY, INVESTMENT AND AGRICULTURE ACTIVITIES. CONSEQUENT TO THE SEARCH, NOTICES U/S 1 53A OF THE ACT WAS ISSUED AND ASSESSMENTS WERE FRAMED U/S 153A OF THE ACT FOR THE ASST YEARS 2008-09 TO 2010-11 BY MAKING THE FOLLOWING DI SALLOWANCES :- (A) TREATING INCOME FROM PROPERTIES AS HOUSE PROPERTY I NCOME AYS 2008-09 AND 2009-10 (B) DISALLOWANCE OF DEPRECIATION, REPAIRS, MAINTENANCE AYS 2008- 09 AND 2009-10 (C) DISALLOWANCE OF ELECTRICITY CHARGES AY 2008-09 AND 2009-10 (D) DISALLOWANCE OF AGRICULTURE INCOME TREATING AS MISC ELLANEOUS INCOME FOR AY 2008-09 AND 2009-10 (E) DISALLOWANCE U/SEC 14A 8. THE ASSESSEE STATED THAT THE ORIGINAL ASSESSMEN TS FOR THE AY 2008- 09 TO 2009-10 WERE COMPLETED U/S 143(1) OF THE ACT AS ON THE DATE OF SEARCH. HENCE THOSE YEARS WOULD FALL UNDER THE CAT EGORY OF UNABATED ASSESSMENTS AND HENCE THE INCOME ASSESSED ORIGINALL Y THEREON COULD NOT BE DISTURBED UNLESS THERE IS ANY INCRIMINATING MATE RIAL FOUND IN THE COURSE OF SEARCH RELATABLE TO THOSE ASSESSMENT YEARS. IT WAS ARGUED THAT ADMITTEDLY NO INCRIMINATING MATERIALS WERE FOUND FO R THOSE ASSESSMENT YEARS IN THE COURSE OF SEARCH AND ACCORDINGLY PLEAD ED NOT TO DISTURB THE ORIGINALLY ASSESSED INCOME. THE AO HOWEVER DID NOT HEED TO THE CONTENTIONS OF THE ASSESSEE AND PROCEEDED TO FRAME THE ASSESSMENTS U/S 153A OF THE ACT BY MAKING REGULAR DISALLOWANCE OF E XPENSES ON THE PLEA 6 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED THAT THE ASSESSMENTS TO BE FRAMED U/S 153A OF THE A CT CLEARS ALL THE DECKS AND WOULD ENABLE THE AO TO ASSESS OR REASSESS THE T OTAL INCOME AS PER THE PROVISIONS OF THE ACT IRRESPECTIVE OF INCRIMINATING MATERIALS FOUND IN THE SEARCH. THIS ACTION OF THE AO WAS CHALLENGED BEFOR E THE CIT-A AND CONSIDERING THE SUBMISSIONS OF THE ASSESSEE AND BY RELYING ON THE JUDICIAL PRECEDENTS, THE CIT-A DIRECTED THE AO TO ACCEPT THE RETURN AS FILED U/SEC 139(1) OF THE ACT AND DELETED THE VARIOUS DISALLOWA NCES AS MADE BY THE AO U/SEC 153A PROCEEDINGS. THE RELEVANT PORTION OF THE FINDING OF THE CIT- A IS REPRODUCED HEREIN BELOW: 13. THUS, IT IS FOUND THAT THE CONSISTENT JUDICIAL OPINION THAT IS BEING EXPRESSED BY THE JUDICIAL FORUMS IS THAT THE ASSESS MENT WHICH HAS ALREADY ATTAINED FINALITY BEFORE THE DATE OF THE INITIATION OF THE SEARCH CANNOT BE DISTURBED IN ASSESSMENT U/S 153A UNLESS INCRIMINATI NG MATERIAL WAS FOUND IN THE SEARCH. IT IS ALSO OBSERVED THAT NOT ONLY THE A SSESSEES BUT ALSO THE DEPARTMENT HAS CONSISTENTLY TAKEN THIS STAND BEFORE DIFFERENT JUDICIAL FORUMS THAT THE ASSESSMENT WHICH HAS ALREADY ATTAINED FINA LITY BEFORE THE DATE OF INITIATION OF THE SEARCH CANNOT BE DISTURBED IN THE PROCEEDINGS U/S 153A WHEN NO RELATED MATERIAL WAS FOUND IN THE SEARCH. T HE HON'BLE ALLAHABAD HIGH COURT HAS IN THE CASE OF SHAILA AGARWAL (SUPRA ) ACCEPTED THE CONTENTION THAT IN VIEW OF THE SECOND PROVISO TO SE CTION 153A, ONLY THE ASSESSMENT WHICH WAS PENDING AS ON THE DATE OF INIT IATION OF THE SEARCH SHALL ABATE AND NOT THOSE WHICH HAVE ALREADY ATTAIN ED FINALITY. THE SAME VIEW HAS BEEN EXPRESSED BY THE HON'BLE RAJASTHAN HI GH COURT IN THE CASE OF JAI STEEL (INDIA) (SUPRA). SIMILARLY, IN THE CASE O F THE SUNCITY ALLOYS (P) LTD (SUPRA), THE HON'BLE JODHPUR BENCH OF THE ITAT HAS HELD THAT THE ASSESSMENT PROCEEDINGS WHICH HAD ALREADY BECOME FIN AL SHALL NOT ABATE AND CONSEQUENTLY NO FRESH CLAIM CAN BE ALLOWED IN THE P ROCEEDINGS U/S 153A. IN THE CASE OF MEGHMANI ORGANICS LTD (SUPRA), THE HON' BLE AHMEDABAD BENCH OF THE ITAT HELD THAT THE ORIGINAL ASSESSMENT COMPL ETED BEFORE THE INITIATION OF THE SEARCH DID NOT ABATE AND SO THE AO WAS NOT C OMPETENT TO ASSUME JURISDICTION U/S 153A WHEN NO INCRIMINATING MATERIA L WAS FOUND IN THE SEARCH. IN THE CASE OF LMJ INTERNATIONAL LTD (SUPRA ), THE HON'BLE BENCH OF THE JURISDICTIONAL ITAT HAS HELD THAT IN CONSEQUENC E TO THE SEARCH U/S 132, THE TOTAL INCOME FOR EACH OF THE SIX PRECEDING YEAR S HAS TO BE RECOMPUTED ON THE BASIS OF THE UNDISCLOSED INCOME UNEARTHED IN SEARCH WHICH HAS TO BE ADDED TO THE REGULAR INCOME ASSESSED U/S 143(3) OR COMPUTED U/S 143(1). BUT, WHERE NO INCRIMINATING MATERIAL WAS FOUND IN T HE SEARCH RELATING TO ANY ASSESSMENT YEAR(S), THEN THE ASSESSMENT FOR SUCH AS SESSMENT YEAR(S) CANNOT BE DISTURBED. IN THE CASE THE CASE OF ALL CA RGO GLOBAL LOGISTICS LTD, THE HON'BLE SPECIAL BENCH OF THE ITAT HAS ALSO ECHO ED THE SAME LEGAL OPINION THAT ASSESSMENT U/S 153A HAS TO BE MADE ON THE BASIS OF THE INCRIMINATING MATERIAL FOUND IN THE SEARCH. THE HON 'BLE BOMBAY HIGH COURT (NAGPUR BENCH) HAS IN THE CASE OF M/S MURLI AGRO PR ODUCTS LTD (SUPRA) HELD THAT THE RETURN ALREADY ACCEPTED BY THE DEPARTMENT CANNOT BE DISTURBED IN ASSESSMENT U/S 153A EXCEPT ON THE BASIS OF INCRIMIN ATING MATERIAL FOUND IN THE SEARCH. IN VIEW OF THE ABOVE, IT IS TO BE HELD THAT THE ASSESSMENT WHICH HAD ATTAINED FINALITY BEFORE THE INITIATION OF THE SEARCH CANNOT BE DISTURBED OR ALTERED IN THE SEARCH ASSESSMENT MADE U/S 153A E XCEPT ON THE BASIS OF THE INCRIMINATING MATERIAL FOUND IN THE SEARCH. IN OTHER WORDS, THE AO HAD 7 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED NO JURISDICTION TO MAKE ADDITION ON ISSUES OF REGUL AR ASSESSMENT WHICH HAD ALREADY ATTAINED FINALITY AS ON THE DATE OF THE SEA RCH. IN VIEW OF THE ABOVE LEGAL POSITION, I AM OF THE OPINION THAT THE DISALL OWANCES CONTESTED BY THE APPELLANT BEING RELATED TO THE ITEM OF REGULAR ASSE SSMENT COULD NOT BE LAWFULLY MADE BY THE AO WHILE MAKING SEARCH ASSESSM ENT U/S 153A. THEREFORE, THE AO IS DIRECTED TO ACCEPT THE INCOME AS SUCH AS DECLARED IN THE RETURN FILED U/S 139(1) OF THE ACT AND DELETE THE D ISALLOWANCE OF VARIOUS EXPENSES AS DONE IN THE ORDER U/S 153A AND ALSO ACC EPT THE HEADS OF INCOME AS DECLARED BY THE APPELLANT IN THE RETURN OF INCOM E. THE GROUND NO. 1 IS ALLOWED. 9. AGGRIEVED, THE REVENUE IS IN APPEALS BEFORE US. 10. THE LD DR ARGUED THAT THE EXPRESSION INCRIMINA TING MATERIAL IS NOT FOUND IN THE PROVISIONS OF THE ACT AND IT IS ONLY T HE HONBLE COURTS WHICH HAD IMPORTED THOSE WORDS WHILE RENDERING THE DECISI ONS. HE STATED THAT THE HONBLE COURTS ARE DIVIDED ON THIS ISSUE AND PL ACED RELIANCE ON THE DECISION OF THE HONBLE KARNATAKA HIGH COURT IN THE CASE OF CANARA HOUSING DEVELOPMENT CO VS DCIT REPORTED IN (2014) 4 9 TAXMANN.COM 98 (KAR HC) WHEREIN IT WAS HELD THAT SEARCH ASSESSMENTS COULD BE FRAMED EVEN WITHOUT THE EXISTENCE OF INCRIMINATING MATERIA LS FOUND IN THE COURSE OF SEARCH. HE ARGUED THAT THE BASIC FOUNDATION FOR CONDUCTING THE SEARCH IS GOVERNED BY THE PROVISIONS OF SECTION 132 OF THE ACT WHICH HAS TO BE READ HARMONIOUSLY WITH SECTION 153A OF THE ACT. T HERE ARE THREE CONDITIONS BASED ON WHICH A SEARCH ACTION COULD BE INITIATED U/S 132 OF THE ACT ON AN ASSESSEE. THEY ARE :- SECTION 132(1) - IF THE CONCERNED AUTHORITY HAS IN CONSEQUENCE OF INFORMATION IN HIS POSSESSION, HAS REASON TO BELIEVE THAT - (A) WHERE A PERSON FAILS TO PRODUCE THE BOOKS OF ACCOUN TS AND OTHER DOCUMENTS IN RESPONSE TO NOTICE U/S 142(1) OR SUMMONS ISSUED U/S 131(1) OF THE ACT ; OR (B) WHERE A PERSON FAILS TO COMPLY WITH THE REQUIREMENT S OF SUMMONS ISSUED U/S 131(1) OF THE ACT ; OR (C) WHERE A PERSON IS IN POSSESSION OF ANY MONEY, BULLI ON, JEWELLERY OR OTHER VALUABLE ARTICLE OR THING AND SUCH ASSETS REPRESENT S EITHER WHOLLY OR PARTLY INCOME OR PROPERTY WHICH HAS NOT BEEN , OR WOULD NOT BE, D ISCLOSED FOR THE PURPOSES OF THE ACT (HEREINAFTER REFERRED TO AS THE UNDISCLOSED IN COME OR PROPERTY) ;THEN THE OFFICER , SO AUTHORIZED COULD CONDUCT A SEARCH AND PROCEED AS PER THE REQUIREMENTS LAID DOWN IN THE SAID SECTION. HE ARGUED THAT THE AFORESAID THREE PRIMARY CONDITIONS FOR INVOKING SEARCH PROCEEDINGS CANNOT B E GIVEN A GO BY WHILE FRAMING SECTION 153A ASSESSMENTS AND THE INSTANT CASE FALLS UNDER SECTION 132(1)(C ) OF THE ACT. 8 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED 11. THE PROVISIONS OF SECTION 153A OF THE ACT USE T HE EXPRESSION ASSESS OR REASSESS TOTAL INCOME AND HENCE THE SEARCH ASSE SSMENT COULD BE FRAMED U/S 153A OF THE ACT IRRESPECTIVE OF ANY INCR IMINATING MATERIALS. 12. ON THE OTHER HAND, THE LD AR STATED THAT THE A SSESSMENTS FOR THE ASST YEARS 2008-09 AND 2009-10 WERE PROCESSED U/S 1 43(1) OF THE ACT ON 26-09-2008 AND 29-09-2009 RESPECTIVELY AND BECOME FINAL. HE REITERATED THE SUBMISSIONS MADE BEFORE THE CIT-A WI TH REGARD TO FRAMING OF ADDITIONS IN SECTION 153A ASSESSMENTS WITHOUT AN Y INCRIMINATING MATERIAL FOUND THEREON. RELIANCE WAS PLACED ON THE FOLLOWING DECISIONS IN SUPPORT OF HIS CONTENTIONS:- (A) CIT VS VEERPRABHU MARKETING LTD REPORTED IN (20 16) 73 TAXMANN.COM 149 (CAL HC) (B) DECISION OF THIS TRIBUNAL IN THE CASE OF ACIT V S KANCHAN OIL INDUSTRIES LTD IN ITA NO. 725/KOL/2011 DATED 9.12.2015 (C ) CIT VS KABUL CHAWLA REPORTED IN (2016) 380 ITR 573 ( DELHI HC) (D) CIT VS CONTINENTAL WAREHOUSING CORPORATION (NHA VA SHEVA) LTD AND ALL CARGO GLOBAL LOGISTICS LTD REPORTED IN (2015) 374 ITR 645 ( BOM) 13. WE HAVE HEARD THE RIVAL SUBMISSIONS. WE FIND IT WOULD BE NECESSARY TO ADDRESS THE PRELIMINARY ISSUE OF WHETHER THE ADD ITION COULD BE FRAMED U/S 153A OF THE ACT IN RESPECT OF A CONCLUDED PROCE EDING WITHOUT THE EXISTENCE OF ANY INCRIMINATING MATERIALS FOUND IN T HE COURSE OF SEARCH. THE SCHEME OF THE ACT PROVIDES FOR ABATEMENT OF PENDING PROCEEDINGS AS ON THE DATE OF SEARCH. IT IS NOT IN DISPUTE THAT THE ASSESSMENTS FOR THE AY 2008-09 AND 2009-10 WERE PROCESSED AND COMPLETED U/S 143(1) OF THE ACT AND HENCE IT FALLS UNDER CONCLUDED PROCEEDING , AS ON THE DATE OF SEARCH. HENCE THE LEGISLATURE DOES NOT DIFFERENTIA TE WHETHER THE ASSESSMENTS ORIGINALLY WERE FRAMED U/S 143(1) OR 14 3(3) OR 147 OF THE ACT. HENCE UNLESS THERE IS ANY INCRIMINATING MATER IAL FOUND DURING THE COURSE OF SEARCH RELATABLE TO THOSE CONCLUDED YEARS , THE STATUTE DOES NOT CONFER ANY POWER ON THE AO TO DISTURB THE FINDINGS GIVEN THEREON AND INCOME DETERMINED THEREON, AS FINALITY HAD ALREADY BEEN REACHED 9 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED THEREON, AND THOSE PROCEEDINGS WERE NOT PENDING ON THE DATE OF SEARCH TO GET THEMSELVES ABATED. THE PROVISIONS OF SECTIO N 153A OF THE ACT ARE REPRODUCED HEREUNDER FOR THE SAKE OF CONVENIENCE :- [ ASSESSMENT IN CASE OF SEARCH OR REQUISITION. 77 153A. 78 [(1)] NOTWITHSTANDING ANYTHING CONTAINED IN SECTION 139, SECTION 147, SECTION 148, SECTION 149, SECTION 151 AND SECT ION 153, IN THE CASE OF A PERSON 79 WHERE A SEARCH IS INITIATED UNDER SECTION 132 OR B OOKS OF ACCOUNT, OTHER DOCUMENTS OR ANY ASSETS ARE REQUISITIONED UNDER SEC TION 132A AFTER THE 31ST DAY OF MAY, 2003, THE ASSESSING OFFICER SHALL (A) ISSUE NOTICE TO SUCH PERSON REQUIRING HIM TO FU RNISH WITHIN SUCH PERIOD, AS MAY BE SPECIFIED IN THE NOTICE, THE RETURN OF INCOME IN RESPECT OF EACH ASSESSMENT YEAR FALLING WITHIN SIX ASSESSMENT YEARS REFERRED TO IN CLAUSE (B), IN THE PRESCRIBED FORM AND VERIFIED IN THE PRESCRIBED MANNER AND SETTING F ORTH SUCH OTHER PARTICULARS AS MAY BE PRESCRIBED AND THE PROVISIONS OF THIS ACT SH ALL, SO FAR AS MAY BE, APPLY ACCORDINGLY AS IF SUCH RETURN WERE A RETURN REQUIRE D TO BE FURNISHED UNDER SECTION 139; (B) ASSESS OR REASSESS THE TOTAL INCOME OF SIX ASSE SSMENT YEARS IMMEDIATELY PRECEDING THE ASSESSMENT YEAR RELEVANT TO THE PREVI OUS YEAR IN WHICH SUCH SEARCH IS CONDUCTED OR REQUISITION IS MADE : PROVIDED THAT THE ASSESSING OFFICER SHALL ASSESS OR REASSES S THE TOTAL INCOME IN RESPECT OF EACH ASSESSMENT YEAR FALLING WITHIN SUCH SIX ASSESSMENT YEARS: 14. WE FIND THAT THE CO-ORDINATE BENCH OF THIS TRI BUNAL IN THE CASE OF ACIT VS KANCHAN OIL INDUSTRIES LTD IN ITA NO. 725/K OL/2011 DATED 9.12.2015 REPORTED IN 2016-TIOL-167-ITAT-KOL HAD EX PLAINED THE AFORESAID PROVISIONS AS BELOW:- 6.4. IN OUR OPINION, THE SCHEME OF ASSESSMENT PR OCEEDINGS SHOULD BE UNDERSTOOD IN THE FOLLOWING MANNER PURSUANT TO THE SEARCH COND UCTED U/S 132 OF THE ACT :- A) NOTICE U/S 153A OF THE ACT WOULD BE ISSUED ON THE P ERSON ON WHOM THE WARRANT OF AUTHORIZATION U/S 132 OF THE ACT WAS ISS UED FOR THE SIX ASSESSMENT YEARS PRECEDING THE YEAR OF SEARCH AND ASSESSMENTS THEREO N WOULD BE COMPLETED U/S 153A OF THE ACT FOR THOSE SIX ASSESSMENT YEARS. B) IN RESPECT OF THE YEAR OF SEARCH, NOTICE U/S 143(2) OF THE ACT WOULD BE ISSUED AND ASSESSMENT THEREON WOULD BE COMPLETED U/ S 143(3) OF THE ACT. C) IN RESPECT OF CONCLUDED ASSESSMENTS PRIOR TO THE YE AR OF SEARCH, NO ADDITION COULD BE MADE IN THE RELEVANT ASSESSMENT YEAR UNLES S ANY INCRIMINATING MATERIAL IS FOUND DURING THE COURSE OF SEARCH WITH RESPECT TO T HE RELEVANT ASSESSMENT YEAR. D) PURSUANT TO THE SEARCH U/S 132 OF THE ACT, THE PEND ING PROCEEDINGS WOULD GET ABATED. IN RESPECT OF ABATED ASSESSMENTS, THE TOTAL INCOME NEEDS TO BE DETERMINED AFRESH IN ACCORDANCE WITH THE PROVISIONS OF SECTION 153A AND OTHER PROVISIONS OF THE ACT. 10 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED 6.4.1. THE CONCLUDED ASSESSMENTS FOR THE PURPOSE O F SECTION 153A OF THE ACT SHALL BE - (I) ASSESSMENT YEARS WHERE ASSESSMENTS ARE ALREADY COMPLETED U/S 143(1) AND TIME LIMIT FOR ISSUANCE OF NOTICE U/S 143(2) OF THE ACT HAS EXPIRED OR; (II ) ASSESSMENT YEARS WHERE ASSESSMENTS ARE ALREAD Y COMPLETED U/S 143(3) OF THE ACT ; UNLESS THEY ARE REOPENED U/S 147 OF THE ACT FOR SOME OTHER PURPOSE IN BOTH THE SCENARIOS STATED ABOVE. 6.4.2. THE SCHEME OF ASSESSMENT PROCEEDINGS CONTEMP LATED U/S 153A OF THE ACT ARE TOTALLY DIFFERENT AND DISTINCT FROM THE PROCEED INGS CONTEMPLATED U/S 147 OF THE ACT AND THESE PROCEDURES OF ASSESSMENT OPERATE IN D IFFERENT FIELDS AND HAVE DIFFERENT PURPOSES TO BE FULFILLED ALTOGETHER. 6.4.3. THE EXPRESSION ASSESS OR REASSESS STATED I N SECTION 153A(1)(B) HAS TO BE UNDERSTOOD AS BELOW:- ASSESS MEANS ASSESSMENTS TO BE FRAMED IN RESPECT OF ABATED ASSESSMENT YEARS IRRESPECTIVE OF THE FACT WHETHER THERE ARE ANY INCR IMINATING MATERIALS FOUND DURING THE COURSE OF SEARCH WITH RESPECT TO RELEVANT ASSES SMENT YEARS ; REASSESS MEANS ASSESSMENTS TO BE FRAMED IN RESPEC T OF CONCLUDED ASSESSMENT YEARS WHERE INCRIMINATING MATERIALS WERE FOUND DURI NG THE COURSE OF SEARCH IN RESPECT OF THE RELEVANT ASSESSMENT YEAR. 15. WE ALSO FIND THAT RECENTLY THE HONBLE DELHI HI GH COURT IN THE CASE OF CIT VS KABUL CHAWLA REPORTED IN (2016) 380 ITR 573 (DEL) HELD AS UNDER:- 37. ON A CONSPECTUS OF SECTION 153A(1) OF THE ACT, READ WITH THE PROVISOS THERETO, AND IN THE LIGHT OF THE LAW EXPLAINED IN THE AFOREM ENTIONED DECISIONS, THE LEGAL POSITION THAT EMERGES IS AS UNDER: I) ONCE A SEARCH TAKES PLACE UNDER SECTION 132 OF THE ACT, NOTICE UNDER SECTION 153A(1) WILL HAVE TO BE MANDATORILY ISSUED TO THE PERSON SEARCHED REQUIRING HIM TO FILE RETURNS FOR SIX AYS IMMEDIATELY PRECEDI NG THE PREVIOUS YEAR RELEVANT TO THE AY IN WHICH THE SEARCH TAKES PLACE. II) ASSESSMENTS AND REASSESSMENTS PENDING ON THE DATE O F THE SEARCH SHALL ABATE. THE TOTAL INCOME FOR SUCH AYS WILL HAVE TO BE COMPUTED BY THE AOS AS A FRESH EXERCISE. III) THE AO WILL EXERCISE NORMAL ASSESSMENT POWERS IN RE SPECT OF THE SIX YEARS PREVIOUS TO THE RELEVANT AY IN WHICH THE SEARCH TAK ES PLACE. THE AO HAS THE POWER TO ASSESS AND REASSESS THE 'TOTAL INCOME' OF THE AF OREMENTIONED SIX YEARS IN SEPARATE ASSESSMENT ORDERS FOR EACH OF THE SIX YEAR S. IN OTHER WORDS THERE WILL BE ONLY ONE ASSESSMENT ORDER IN RESPECT OF EACH OF THE SIX AYS 'IN WHICH BOTH THE DISCLOSED AND THE UNDISCLOSED INCOME WOULD BE BROUG HT TO TAX'. IV) ALTHOUGH SECTION 153 A DOES NOT SAY THAT ADDITIONS SHOULD BE STRICTLY MADE ON THE BASIS OF EVIDENCE FOUND IN THE COURSE OF THE SEARCH, OR OTHER POST-SEARCH MATERIAL OR INFORMATION AVAILABLE WITH THE AO WHICH CAN BE RELATED TO THE EVIDENCE FOUND, IT DOES NOT MEAN THAT THE ASSESSMENT 'CAN BE ARBITRARY OR MADE WITHOUT ANY RELEVANCE OR NEXUS WITH THE SEIZED MATERIAL. OBVIOU SLY AN ASSESSMENT HAS TO BE MADE UNDER THIS SECTION ONLY ON THE BASIS OF SEIZED MATERIAL.' V) IN ABSENCE OF ANY INCRIMINATING MATERIAL, THE COMPL ETED ASSESSMENT CAN BE REITERATED AND THE ABATED ASSESSMENT OR REASSESSMEN T CAN BE MADE. THE WORD 11 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED 'ASSESS' IN SECTION 153 A IS RELATABLE TO ABATED PR OCEEDINGS (I.E. THOSE PENDING ON THE DATE OF SEARCH) AND THE WORD 'REASSESS' TO COMP LETED ASSESSMENT PROCEEDINGS. VI) INSOFAR AS PENDING ASSESSMENTS ARE CONCERNED, THE J URISDICTION TO MAKE THE ORIGINAL ASSESSMENT AND THE ASSESSMENT UNDER SECTIO N 153A MERGES INTO ONE. ONLY ONE ASSESSMENT SHALL BE MADE SEPARATELY FOR EACH AY ON THE BASIS OF THE FINDINGS OF THE SEARCH AND ANY OTHER MATERIAL EXISTING OR BROUG HT ON THE RECORD OF THE AO. VII) COMPLETED ASSESSMENTS CAN BE INTERFERED WITH BY THE AO WHILE MAKING THE ASSESSMENT UNDER SECTION 153 A ONLY ON THE BASIS OF SOME INCRIMINATING MATERIAL UNEARTHED DURING THE COURSE OF SEARCH OR REQUISITIO N OF DOCUMENTS OR UNDISCLOSED INCOME OR PROPERTY DISCOVERED IN THE COURSE OF SEAR CH WHICH WERE NOT PRODUCED OR NOT ALREADY DISCLOSED OR MADE KNOWN IN THE COURSE O F ORIGINAL ASSESSMENT. 38. THE PRESENT APPEALS CONCERN AYS 2002-03, 2005-0 6 AND 2006-07 , ON THE DATE OF THE SEARCH THE SAID ASSESSMENTS ALREADY STOOD CO MPLETED. SINCE NO INCRIMINATING MATERIAL WAS UNEARTHED DURING THE SEA RCH, NO ADDITIONS COULD HAVE BEEN MADE TO THE INCOME ALREADY ASSESSED. 16. WE FIND THAT THE DECISION RELIED UPON BY THE L D DR IN THE CASE OF CIT VS ANIL KUMAR BHATIA REPORTED IN (2013) 352 ITR 493 (DEL) DOES NOT IN ANY MANNER ADVANCE THE CASE OF THE REVENUE AS ADMIT TEDLY THE HONBLE DELHI HIGH COURT IN PARA 24 OF ITS ORDER HAD HELD A S UNDER:- 24. WE ARE NOT CONCERNED WITH A CASE WHERE NO INCR IMINATING MATERIAL WAS FOUND DURING THE SEARCH CONDUCTED UNDER SECTION 132 OF TH E ACT. WE, THEREFORE, EXPRESS NO OPINION AS TO WHETHER SECTION 153A CAN BE INVOKE D EVEN IN SUCH A SITUATION. THAT QUESTION IS THEREFORE LEFT OPEN. 17. WE FIND THAT THE DECISION OF HONBLE DELHI HIG H COURT IN THE CASE OF CIT VS KABUL CHAWLA REPORTED IN (2016) 380 ITR 573 (DEL) HAD DULY CONSIDERED THE DECISIONS OF CIT VS ANIL KUMAR BHATI A REPORTED IN (2013) 352 ITR 493 (DEL) ; CIT VS CHETAN DAS LACHMAN DAS REPORTED IN (2012) 211 TAXMAN 61 (DEL HC) ; MADUGULA VENU VS DIT REPO RTED IN (2013) 215 TAXMAN 298 (DEL HC) ; CANARA HOUSING DEVELOPMENT C O. VS DCIT REPORTED IN (2014) 49 TAXMANN.COM 98 (KAR HC) ; FI LATEX INDIA LTD VS CIT REPORTED IN (2014) 229 TAXMAN 555 (DEL HC) ; JA I STEEL (INDIA) VS ACIT REPORTED IN (2013) 219 TAXMAN 223 (DEL HC) ; C IT VS MURLI AGRO PRODUCTS LTD REPORTED IN (2014) 49 TAXMANN.COM 172 (BOM HC) ; CIT VS CONTINENTAL WAREHOUSING CORPORATION (NHAVA SHEVA) L TD REPORTED IN (2015) 374 ITR 645 (BOM HC) AND ALL CARGO GLOBAL LO GISTICS LTD VS DCIT REPORTED IN (2012) 137 ITD 287 (MUM ITAT) (SB). HENCE IT COULD BE 12 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED SAFELY CONCLUDED THAT THE DECISION OF HONBLE DELHI HC IN THE CASE OF KABUL CHAWLA SUPRA IS THE LATEST ONE ON THE IMPUGNED ISSU E WHICH HAD CONSIDERED THE DECISIONS THAT WERE QUOTED BY THE LD DR AND DISTINGUISHED THE SAME. 18. WE ALSO FIND THAT THE HONBLE JURISDICTIONAL H IGH COURT RECENTLY IN THE CASE OF PRINCIPAL CIT VS M/S SALASAR STOCK BROKING LTD IN G.A.NO. 1929 OF 2016 ITAT NO. 264 OF 2016 DATED 24.8.2016 HAD ENDOR SED THE AFORESAID VIEW OF HONBLE DELHI HIGH COURT IN KABUL CHAWLAS CASE AND ALSO PLACED RELIANCE ON ITS OWN DECISION IN THE CASE OF CIT VS VEERPRABHU MARKETING LTD REPORTED IN (2016) 73 TAXMANN.COM 149 (CAL HC). 19. WE FIND THAT THE PROVISIONS OF SECTION 132 OF THE ACT RELIED UPON BY THE LD DR WOULD BE RELEVANT ONLY FOR THE PURPOSE OF CONDUCTING THE SEARCH ACTION AND INITIATING PROCEEDINGS U/S 153A OF THE A CT. ONCE THE PROCEEDINGS U/S 153A OF THE ACT ARE INITIATED, WHIC H ARE SPECIAL PROCEEDINGS, THE LEGISLATURE IN ITS WISDOM BIFURCA TES DIFFERENTIAL TREATMENTS FOR ABATED ASSESSMENTS AND UNABATED ASSE SSMENTS. AT THE COST OF REPETITION, WE STATE THAT IN RESPECT OF ABA TED ASSESSMENTS (I.E PENDING PROCEEDINGS ON THE DATE OF SEARCH), FRESH A SSESSMENTS ARE TO BE FRAMED BY THE AO U/S 153A OF THE ACT WHICH WOULD HA VE A BEARING ON THE DETERMINATION OF TOTAL INCOME BY CONSIDERING ALL TH E ASPECTS, WHEREIN THE EXISTENCE OF INCRIMINATING MATERIALS DOES NOT HAVE ANY RELEVANCE. HOWEVER, IN RESPECT OF UNABATED ASSESSMENTS, THE LE GISLATURE HAD CONFERRED POWERS ON THE AO TO JUST FOLLOW THE ASSES SMENTS ALREADY CONCLUDED UNLESS THERE IS AN INCRIMINATING MATERIAL FOUND IN THE SEARCH TO DISTURB THE SAID CONCLUDED ASSESSMENT. IN OUR CON SIDERED OPINION, THIS WOULD BE THE CORRECT UNDERSTANDING OF THE PROVISION S OF SECTION 153A OF THE ACT , AS OTHERWISE, THE NECESSITY OF BIFURCATIO N OF ABATED AND UNABATED ASSESSMENTS IN SECTION 153A OF THE ACT WOULD BECOME REDUNDANT AND 13 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED WOULD LOSE ITS RELEVANCE. HENCE THE ARGUMENTS ADVA NCED BY THE LD DR IN THIS REGARD DESERVES TO BE DISMISSED. 20. IN VIEW OF THE AFORESAID FINDINGS AND RESPECTFU LLY FOLLOWING THE JUDICIAL PRECEDENTS RELIED UPON HEREINABOVE, WE HOLD THAT TH E VARIOUS DISALLOWANCES SUCH AS DEPRECIATION, REPAIRS, MAINTE NANCE, ELECTRICITY CHARGES AND U/S 14A OF THE ACT FOR THE ASST YEARS 2 008-09 AND 2009-10, WHICH WERE UNABATED AND CONCLUDED ASSESSMENTS, ON T HE DATE OF SEARCH, DESERVES TO BE UNDISTURBED IN THE ABSENCE OF ANY IN CRIMINATING MATERIAL FOUND IN THE COURSE OF SEARCH AND ACCORDINGLY DIREC TED TO BE DELETED. HENCE WE HOLD THAT THE AO OUGHT TO HAVE TREATED THE RETURN AS FILED U/SEC 139(1) OF THE ACT WHICH WAS PROCESSED U/S 143(1) OF THE ACT AND BECOME FINAL FOR THE AFORESAID AYS 2008-09 AND 2009-10. WE FIND NO INFIRMITY IN THE ORDER PASSED BY THE CIT-A AND WARRANTS NO INTER FERENCE. SINCE THE ISSUES ARE ADDRESSED ON PRELIMINARY GROUND OF ABSEN CE OF INCRIMINATING MATERIALS, WE REFRAIN TO GIVE OUR FINDINGS ON THE M ERITS OF THE DISALLOWANCES MADE TOWARDS VARIOUS DISALLOWANCES OF EXPENSES SUCH AS DEPRECIATION, REPAIRS, MAINTENANCE, ELECTRICITY CHA RGES AND U/S 14A OF THE ACT FOR AY 2008-09 AND 2009-10. ACCORDINGLY THE GR OUNDS RAISED BY THE REVENUE IN THIS REGARD FOR AYS 2008-09 AND 2009-10 ARE DISMISSED. 21. IN THE RESULT, THE APPEALS FILED BY THE REVENUE ITA 61/KOL/2015, ITA 62/KOL/2015 AND ITA 63/KOL/2015 FOR AY 2008-09 TO 2 010-11 ARE DISMISSED ORDER PRONOUNCED IN THE OPEN COURT ON 16 -11-2016 SD/- SD/- M. BALAGANESH S.S. VISWANETHRA RAVI ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 16-11-2016 14 IT(SS) NO.61-63/KOL/2015 M/S. VISA INTERNATIONAL LIMITED PP(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1 . APPELLANT ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-3(1), KOLKATA, AYAKAR BHAVAN POORVA, 110, SHANTHIPALLY, KOLKATA-700107. 2 RESPONDENT M/S VISA INTERNATIONAL LTD, VISA HOUSE , 8/10, ALIPORE ROAD, KOLKATA-700027 3 . THE CIT(A), KOLKATA 4. 5. CIT , KOLKATA DR, KOLKATA BENCHES, KOLKATA / TRUE COPY, BY ORDER, ASSTT. REGISTRAR .