M/s Nopany Investments Pvt. Ltd., Kolkata V. ACIT, CC- XI, Kolkata, Kolkata

MA 37/KOL/2012

• Counselvise Citation: [2012] 123 COUNSELVISE.COM (IT) 8178 (ITAT-KOLKATA)
• Duration Of Justice: 1 month(s) 25 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 18-05-2012
• Appeal Filed By: Assessee
• Bench Allotted: B
• Assessment Year: 2004-2005
• Appeal Filed On: 23-03-2012
• Court: TRIBUNAL
• Department Lawyers: S P LAHIRI
• Assessee Lawyers: S JHAJHARIA
• Keywords: Depreciation; Unabsorbed depreciation

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL, BEN CH B, KOLKATA () BEFORE , , , , . .. . . .. . , ,, , SHRI C.D.RAO, ACCOUNTANT MEMBER !' !' !' !' /AND ##$ %& ##$ %& ##$ %& ##$ %&, , , , ' ' ' ' SHRI GEORGE MATHAN, JUDICIAL MEMBER '( '( '( '( / M.A.NO.37/KOL/2012 A/O ITA NO . 371/KOL/2008 '&) *+/ ASSESSMENT YEAR : 2004-05 (%- / APPELLANT ) M/S.NOOPANY INVESTMENTS PVT. LTD., KOLKATA (PAN: AAACN 8345 R) - & - - VERSUS - . (/0%-/ RESPONDENT ) A.C.I.T., CENTRAL CIRCLE- XI, KOLKATA %- 1 2 / FOR THE APPELLANT: SHRI S.JHAJHARIA /0%- 1 2 / FOR THE RESPONDENT: SHRI S.P.LAHIRI 3&4 1 /DATE OF HEARING : 18.05.2012 5* 1 /DATE OF PRONOUNCEMENT : 18.05.2012. 6 / ORDER ( (( ( . .. . . .. . ) )) ), , , , PER SHRI C.D.RAO, AM THE ABOVE MISCELLANEOUS APPLICATION HAS BEEN FILED BY ASSESSEE TO RECALL THE ORDER OF TRIBUNAL DATED 30.09.2008 VIDE ITA NO.371/ KOL/2008 PERTAINING TO A.YR. 2004-05. 2. AT THE TIME OF HEARING BEFORE US, THE LD. COUNS EL APPEARING ON BEHALF OF ASSESSEE HAS BROUGHT TO OUR NOTICE THAT IN THIS CAS E THIS BENCH HAS NOT DECIDED THE ADDITIONAL GROUNDS WHICH WERE TAKEN BY ASSESSEE ON 11.07.2008 AND HAS NOT BEEN DISPOSED OF. THEREFORE HE REQUESTED TO RECALL THE O RDER OF TRIBUNAL DATED 30.09.2008 IN ORDER TO DISPOSE OF THE ADDITIONAL GROUNDS. 3. ON THE OTHER HAND, THE LD. DR APPEARING ON BEHAL F OF THE REVENUE DID NOT RAISE ANY OBJECTION TO THE SAID REQUEST OF THE LD. COUNSE L FOR ASSESSEE. 2 4. AFTER HEARING THE RIVAL SUBMISSIONS AND ON CAREF UL PERUSAL OF MATERIALS AVAILABLE ON RECORD, IT IS OBSERVED THAT ASSESSEE H AS TAKEN TWO ADDITIONAL GROUNDS WHICH ARE AS UNDER :- 1. FOR THAT IN VIEW OF THE FACTS AND IN THE CIRCUM STANCES OF THE CASE THE AO WAS WHOLLY WRONG AND UNJUSTIFIED IN DISALLOWING THE CURRENT YE ARS DEPRECIATION OF RS.4,13,851/-. THE LD. CIT(A) WAS ALSO EQUALLY WRONG AND UNJUSTIFI ED IN NOT ALLOWING THE AID DEPRECIATION. THE ACTIONS OF THE AO AND THE LD. CIT (A) ARE WHOLLY UNREASONABLE, UNCALLED FOR AND BAD IN LAW. 2. FOR THAT IN VIEW OF THE FACTS AND IN THE CIRCUMS TANCES OF THE CASE THE AO WAS WHOLLY WRONG AND UNJUSTIFIED IN NOT ALLOWING THE BENEFIT O F CARRY FORWARD OF B/F UNABSORBED DEPRECIATION FOR THE A,.YS. 1998-1999 TO 2001-2002 YEARS WITHOUT ASSIGNING ANY REASON FOR DISALLOWING THE SAID BENEFIT. THE LD. CIT(A) WA S ALSO EQUALLY WRONG AND UNJUSTIFIED IN NOT CONSIDERING AND DISPOSING OF THE ISSUE. THE ACTIONS OF THE AO AND THE LD. CIT(A) ARE WHOLLY UNREASONABLE, UNCALLED FOR AND BAD IN LA W. HOWEVER, BY INADVERTENTLY THESE ADDITIONAL GROUNDS WERE NOT DISPOSED OF BY THIS TRIBUNAL. THEREFORE, WE RECALL THE ORDER OF TRIBUNA L DATED 30.09.2008 FOR A SPECIFIC PURPOSE OF HEARING OF THESE TWO ADDITIONAL GROUNDS ONLY. THE REGISTRY IS DIRECTED TO FIX THE CASE FOR HEARING IN DUE COURSE. 5. IN THE RESULT THE MISCELLANEOUS APPLICATION OF A SSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 18.05.2012. SD/- SD/- ##$ %& ##$ %& ##$ %& ##$ %&, , , , ' ' ' ' GEORGE MATHAN, JUDICIAL MEMBER . .. . . .. . , , , , , C.D.RAO, ACCOUNTANT MEMBER. ( (( ( ) )) ) DATE: 18/21.05.2012. 6 1 /''7 87*9- COPY OF THE ORDER FORWARDED TO: 1. M/S.NOOPANY INVESTMENTS PVT. LTD., C/O SALARPURIA J AJODIA & CO., 7, CHITTARANJAN AVENUE, KOLKATA-700072. 2 D.C.I.T., CENTRAL CIRCLE-XI, KOLKATA 3. THE CIT-CENTRAL-II, KOLKATA, 4. THE CIT(A)-CENTRAL-III, KOLKATA 5. DR, KOLKATA BENCHES, KOLKATA 07 /'/ TRUE COPY, 6&3/ BY ORDER, DEPUTY /ASST. REGISTRAR , ITAT, KOLKATA BENCHES R.G.(.P.S.) 3