KESAR TERMINALS AND INFRASTRUCTURE LIMITED,MUMBAI V. ASSESSMENT UNIT, NATIONAL FACELESS ASSESSMENT CENTRE AND DEPUTY COMMISSIONER OF INCOME TAX - 1(2)(1), MUMBAI

ITA 5988/MUM/2024

AI Insights

Kesar Terminals and Infrastructure Ltd. appealed against the order of the Commissioner of Income-tax (Appeals) - National Faceless Appeal Centre, Delhi, for the assessment year 2013-14. The appeal included challenges against the reopening of assessment under section 147, disallowance of a deduction under section 80-IA amounting to Rs. 3,13,06,552, and the levy of interest under sections 234B and 234C totaling Rs. 34,47,118 and Rs. 6,20,921 respectively. However, the assessee later withdrew the appeal following a favorable decision in a related writ petition before the Bombay High Court, leading to the dismissal of the appeal by the Income Tax Appellate Tribunal, Mumbai.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 32061 (ITAT-MUMBAI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-02-2025
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: E
• Assessment Year: 2013-2014
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: HEMANSHU JOSHI
• Assessee Lawyers: KARAN JAIN AW
• Section: 147; 148; 234B

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “E” MUMBAI BEFORE SHRI OM PRAKASH KANT (ACCOUNTANT MEMBER) AND SHRI RAHUL CHAUDHARY (JUDICIAL MEMBER) ITA No. 5988/MUM/2024 Assessment Year: 2013-14 Kesar Terminals and Infrastructure Ltd., Oriental House, 7, Jamshedji Tata Road, Churchgate, Mumbai-400020. Vs. Assessment Unit, National Faceless Assessment Centre, [Dy. CIT-1(2)(1)], Aayakar Bhavan, Maharishi Karve Road, Mumbai-400020. PAN NO. AADCK 2945 C Appellant Respondent Assessee by : Mr. Karan Jain a/w Mr. Surat Singh D. Revenue by : Mr. Hemanshu Joshi, Sr. DR Date of Hearing : 17/02/2025 Date of pronouncement : 18/02/2025 ORDER PER OM PRAKASH KANT, AM This appeal by the assessee is directed against order dated 26.09.2024 passed by the Ld. Commissioner of Income-tax (Appeals) – National Faceless Appeal Centre, Delhi [in short ‘the Ld. CIT(A)’] for assessment year 2013-14, raising following grounds: GROUND NO. 1: RE ASSESSMENT ASSESSMENT ORDER IS BAD IN 1.1 On the facts and in the circumstances of the case and in law, the Id. CIT(A) erred in upholding the action of Id. AO in reopening the assessment u/s. 147 of the Act. 1.2 The Appellant pra re-assessment proceedings and the consequent order be quashed. 2. GROUND NO. 2: DISALLOWANCE OF CLAIM OF DEDUCTION U/S. 80 3,13,06,552/ 2.1 On the facts and in circumstances of the ca the Id. CIT(A) erred in upholding the action of Id. AO in disallowing the deduction of Rs. the Appellant u/s. 80 2.2 The Appellant prays that the disallowance of deduction of Rs. 3,13,06,552/ 3. GROUND NO. 3: LEVY OF INTEREST OF RS. 34,47,118/ U/S. 234B AND RS. 3.1 On the facts and circumstances of the case and in law, the Id. AO erred in levying interest u/s. 234B and 234C of the Act, amounting to Rs. 34,47,118/ respectively. 3.2 The Appellant prays that the Id. AO be directed to delete/appropriately reduce the levy of interest u/s. 234B and 234C of 2. At the outset, the Ld. counsel for the assessee written request for withdrawing the captioned appeal in view of filed before the Hon’ble Jurisdictional Bombay High Court challenging notice u/s 148 of the income Act) allowed in favour of the assessee. In view o Kesar Terminals and Infrastructure ITA No. GROUND NO. 1: RE-ASSESSMENT NOTICE U/S. 148, RE ASSESSMENT PROCEEDINGS AND CONSEQUENTIAL RE ASSESSMENT ORDER IS BAD IN LAW: 1.1 On the facts and in the circumstances of the case and in law, the Id. CIT(A) erred in upholding the action of Id. AO in reopening the assessment u/s. 147 of the Act. 1.2 The Appellant prays that the notice u/s. 148 of the Act, assessment proceedings and the consequent quashed. 2. GROUND NO. 2: DISALLOWANCE OF CLAIM OF DEDUCTION U/S. 80-IA OF THE ACT AMOUNTING TO RS. 3,13,06,552/-: 2.1 On the facts and in circumstances of the case and in law, the Id. CIT(A) erred in upholding the action of Id. AO in disallowing the deduction of Rs. 3,13,06,552/- claimed by the Appellant u/s. 80-IA of the Act. 2.2 The Appellant prays that the disallowance of deduction of Rs. 3,13,06,552/-claimed u/s. 80-IA of the Act be deleted. 3. GROUND NO. 3: LEVY OF INTEREST OF RS. 34,47,118/ U/S. 234B AND RS. 6,20,921/- U/S. 234C OF THE ACT: 3.1 On the facts and circumstances of the case and in law, the Id. AO erred in levying interest u/s. 234B and 234C of he Act, amounting to Rs. 34,47,118/-and Rs. 6,20,921/ 3.2 The Appellant prays that the Id. AO be directed to delete/appropriately reduce the levy of interest u/s. 234B of the Act. At the outset, the Ld. counsel for the assessee written request for withdrawing the captioned appeal in view of filed before the Hon’ble Jurisdictional Bombay High Court challenging notice u/s 148 of the income-tax Act, 1961( in short the allowed in favour of the assessee. In view of request of the Kesar Terminals and Infrastructure Ltd. 2 ITA No. 5988/MUM/2024 ASSESSMENT NOTICE U/S. 148, RE- PROCEEDINGS AND CONSEQUENTIAL RE- 1.1 On the facts and in the circumstances of the case and in law, the Id. CIT(A) erred in upholding the action of Id. AO in ys that the notice u/s. 148 of the Act, assessment proceedings and the consequent 2. GROUND NO. 2: DISALLOWANCE OF CLAIM OF IA OF THE ACT AMOUNTING TO RS. se and in law, the Id. CIT(A) erred in upholding the action of Id. AO in claimed by 2.2 The Appellant prays that the disallowance of deduction IA of the Act be deleted. 3. GROUND NO. 3: LEVY OF INTEREST OF RS. 34,47,118/- U/S. 234C OF THE ACT: 3.1 On the facts and circumstances of the case and in law, the Id. AO erred in levying interest u/s. 234B and 234C of and Rs. 6,20,921/- 3.2 The Appellant prays that the Id. AO be directed to delete/appropriately reduce the levy of interest u/s. 234B At the outset, the Ld. counsel for the assessee submitted a written request for withdrawing the captioned appeal in view of writ filed before the Hon’ble Jurisdictional Bombay High Court tax Act, 1961( in short the f request of the assessee seeking withdrawal of the appeal, the appeal is dismissed as infructuous. 3. In the result, the appeal of the assessee is dismissed. Order pronounced in the open Court on Sd/ (RAHUL CHAUDHARY JUDICIAL MEMBER Mumbai; Dated: 18/02/2025 Rahul Sharma, Sr. P.S. Copy of the Order forwarded to 1. The Appellant 2. The Respondent. 3. CIT 4. DR, ITAT, Mumbai 5. Guard file. //True Copy// Kesar Terminals and Infrastructure ITA No. assessee seeking withdrawal of the appeal, the appeal is dismissed In the result, the appeal of the assessee is dismissed. nounced in the open Court on 18/02/2025. Sd/- Sd/ (RAHUL CHAUDHARY) (OM PRAKASH KANT JUDICIAL MEMBER ACCOUNTANT MEMBER Copy of the Order forwarded to : BY ORDER, (Assistant Registrar) ITAT, Mumbai Kesar Terminals and Infrastructure Ltd. 3 ITA No. 5988/MUM/2024 assessee seeking withdrawal of the appeal, the appeal is dismissed In the result, the appeal of the assessee is dismissed. /02/2025. Sd/- OM PRAKASH KANT) ACCOUNTANT MEMBER BY ORDER, (Assistant Registrar) ITAT, Mumbai "