RBA Properties Ltd., Kolkata V. DCIT, Circle-7, Kolkata, Kolkata

MA 55/KOL/2014

• Counselvise Citation: [2015] 124 COUNSELVISE.COM (IT) 2858 (ITAT-KOLKATA)
• Duration Of Justice: 2 month(s) 22 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 06-02-2015
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2006-2007
• Appeal Filed On: 14-11-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL

Judgement Text

1 M.A . NO. 5 5 /KOL/201 4 ( ARISING OUT OF ITA NO. 1690 /KOL/201 2 ) ASSESSMENT YEAR : 20 06 - 20 07 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA C BENCH, KOLKATA BEFORE SHRI SHAMIM YAHYA , ACCOUNTANT MEMBER AND SHRI GEORGE MATHAN , JUDICIAL MEMBER M.A. NO. 5 5 /KOL/201 4 (ARISING OUT OF I.T.A. NO. 1690 /KOL/201 2 ) ASSESSMENT YEAR : 20 06 - 20 07 M/S. RBA P ROPERTIES LIMITED,....... . ......... ..... .............. PETITIONER 22, CAMAC STREET, KOLKATA - 700 016 [PAN : AA CCR 0584 R ] - VS. - DEPUTY COMMISSIONER OF INCOME TAX, . .................... . RESPONDENT CENTRAL - 7 , KOLKATA, P - 7, CHOWRINGHEE SQUARE, 5 TH F LOOR, ROOM NO. 15, KOLKATA - 700 069 APPEARANCES BY: SHRI S.L. KOCHAR , ADVOCATE , FOR THE PETITIONER SHRI K ANHIYA L AL KANAK, J CIT, SR. D.R., FOR THE RESPONDENT DATE OF CONCLUDING THE HEARING : FEBRU ARY 0 6 , 201 5 DATE OF PRONOUNCING THE ORDER : FEBRU A RY 0 6 , 201 5 O R D E R PER SHRI GEORGE MATHAN, JUDICIAL MEMBER : THIS IS A MISCELLANEOUS APPLICATION FILED BY THE ASSESSE E AGAINST THE ORDER OF THE TRIBUNAL IN ITA NO. 1690 /KOL/201 2 DATED 2 6 .0 8 .201 4 FOR THE ASSESSMENT YEAR 20 06 - 07 . 2. SHRI S.L. KOCHAR, ADV OCATE , REPRESENTED ON BEHALF OF THE ASSESSEE AND SHRI K ANHIYA L AL KANAK, J CIT , SR. D.R., REPRESENTED ON BEHALF OF THE REVENUE. 2 M.A . NO. 5 5 /KOL/201 4 ( ARISING OUT OF ITA NO. 1690 /KOL/201 2 ) ASSESSMENT YEAR : 20 06 - 20 07 3. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD. A .R. THAT THE ORDER OF THE TRIBUNAL CONTAINED TYPOGRAPHICAL ERRORS IN SO FAR AS IN THE CAUSE TITLE THE ASSESSMENT YEAR HAS BEEN MENTIONED AS 2006 - 07 IN PLACE OF 2009 - 10. SIMILARLY IN THE FIRST PARAGRAPH OF THE ORDER OF THE TRIBUNAL, THE ASSESSMENT YEAR HAS BEEN NOTED AS 2006 - 07 IN PLACE OF 2009 - 10. IT WAS ALSO SUBMITTED IN PARA 6 OF THE ORDER OF THE TRIBUNAL, THE TERM INCOME FROM BUSINESS HAS BEEN MENTIONED IN PLACE OF INCOME FROM HOUSE PROPERTY . 4. THE REVENUE DID NOT RAISE ANY SERIOUS OBJECTION TO THE RECTIFICATION OF THE SAID MISTAKES. 5. AFTER PERUSING THE ORDER OF T HE TRIBUNAL DATED 26.08.2014 PASSED IN ITA NO. 1690/KOL/2012, WE RECTIFY THE ORDER OF THE TRIBUNAL AS UNDER: - I N THE CAUSE TITLE OF THE ORDER OF TRIBUNAL, THE ASSESSMENT YEAR MENTIONED IS TO BE READ AS 2009 - 10 IN PLACE OF 2006 - 07. SIMILARLY IN PARA 1 OF T HE ORDER , THE ASSESSMENT YEAR IS TO BE READ AS 2009 - 10 IN PLACE OF 2006 - 07. FURTHER IN PARA 6 OF THE ORDER OF THE TRIBUNAL, THE FOLLOWING SENTENCE SINCE INCOME RECEIVED BY THE ASSESSEE HAS TO BE ASSESSED UNDER THE HEAD INCOME FROM BUSINESS , THEREFORE, IN OUR OPINION, THE ASSESSEE CANNOT BE ALLOWED DEDUCTION IN RESPECT OF INSURANCE PREMIUM , SHALL BE READ AS SINCE INCOME RECEIVED BY THE ASSESSEE HAS TO BE ASSESSED UNDER THE HEAD INCOME FROM HOUSE PROPERTY , THEREFORE, IN OUR OPINION, THE ASSESSEE CANN OT BE ALLOWED DEDUCTION IN RESPECT OF INSURANCE PREMIUM . 3 M.A . NO. 5 5 /KOL/201 4 ( ARISING OUT OF ITA NO. 1690 /KOL/201 2 ) ASSESSMENT YEAR : 20 06 - 20 07 6. THIS ORDER MAY BE TREATED AS PART OF OUR EARLIER ORDER DATED 2 6 .0 8 .2014. 7. IN THE RESULT, THE MISCELLANEOUS APPLICATION FILED BY THE ASSESSEE STANDS ALLOWED. ORDER P RONOUNCED IN THE OPEN C OUR T ON 6 TH DAY OF FEBR UARY , 201 5 . SD/ - SD/ - SHAMIM YAHYA GEORGE MATHAN (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) KOLKATA, THE 6 TH DAY OF FEBRU ARY , 201 5 COPIES TO : (1) M/S. RBA PROPERTIES LIMITED, 22, CAMAC STREET, KOLKATA - 700 016 (2) DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL - 7, KOLKATA, P - 7, CHOWRINGHEE SQUARE, 5 TH FLOOR, ROOM NO. 15, KOLKATA - 700 069 ( 3 ) CIT ( 4 ) CIT(A) ( 5 ) THE DEPARTMENTAL REPRESENTATIVE ( 6 ) GUARD FILE BY ORDER ETC ASSISTANT REGISTRAR INCOME TA X APPELLATE TRIBUNAL KOLKATA B ENCHES, KOLKATA LAHA/SR. P.S.