ITO, Ward-5(2), Kolkata, Kolkata V. M/S. Polar Industries Ltd., Kolkata

MA 64/KOL/2014

• Counselvise Citation: [2015] 124 COUNSELVISE.COM (IT) 3261 (ITAT-KOLKATA)
• Duration Of Justice: 6 month(s) 2 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 19-06-2015
• Appeal Filed By: Department
• Bench Allotted: A
• Assessment Year: 2001-2002
• Appeal Filed On: 17-12-2014
• Court: TRIBUNAL
• Keywords: Revenue expenditure

Judgement Text

M.A NO. 64/KOL/2014 M/S. POLAR INDUSTRIES B - JM 1 IN THE INCOME TAX APPELLATE TRIBUNAL : BENCH A : KOLKATA [ BEFORE HON. SHRI MAHAVIR SINGH , JUDICIAL MEMBER & HON. SHRI B.P JAIN , ACCOUNTANT MEMBER] MISC. APPLICATION NO . 64 /KOL/201 4 [ ARISING OUT OF ITA NO . 1789 /KOL/201 2 A.Y 200 1 - 02 ] I.T.O WARD 5(2), KOLKATA VS. M/S. POLAR INDUSTRIES LTD PAN: AABCP 7240D [ APPLICANT ] [RESPONDENT] FOR THE APPLICANT : SHRI SUNIL KUMAR AGARWAL, JCIT/LD.DR FOR THE RESPONDENT : SHRI MANISH TIWARI DATE OF HEARING : 1 9 - 06 - 2015 DATE OF PRONOUNCEMENT : 19 - 06 - 2 015 O R D E R SHRI MAHAVIR SINGH , JUDICIAL MEMBER : BY WAY OF THIS MISC. APPLICATION THE REVENUE HAS REQUESTED THE TRIBUNAL TO RECTIFY THE MISTAKE APPARENT FROM RECORD IN THE ORDER DATED 17 - 07 - 2014 OF THE TRIBUNAL. 2. WE HAVE HEARD THE RIVAL CONTENTIO NS AND GONE THROUGH THE FACTS OF THE CASE. THE ONLY GRIEVANCE OF THE REVENUE IS THAT THE TRIBUNAL HAS OMITTED TO APPRECIATE THE FACTS OF AN AMOUNT OF RS.46,57,159/ - UNDER THE HEAD DEFERRED REVENUE EXPENDITURE , WHICH HAS BEEN CHARGED. ACCORDING TO TH E REVENUE ON PRINCIPLE, IT HAS BEEN ACCEPTED THAT DEFERRED REVENUE EXPENDITURE IS AN ITEM BELOW THE LINE, WHICH CANNOT BE ALLOWED AS REVENUE EXPENDITURE. WE FIND THAT THE TRIBUNAL IN ITS SAID ORDER VIDE PARA 10 HELD THAT DEFERRED REVENUE EXPENDITURE OF RS. 54,44,881/ - WAS ALREADY ADDED BACK BY THE ASSESSEE IN THE COMPUTATION OF INCOME. IN SUCH FACTS AND CIRCUMSTANCES, WE FIND NO MISTAKE APPARENT FROM RECORD IN THE SAID ORDER OF THE TRIBUNAL . M.A NO. 64/KOL/2014 M/S. POLAR INDUSTRIES B - JM 2 3. I N THE RESULT, THE MISC. APPLICATION FILED BY THE REVENUE IS DISMISSED IN TERMS OF THE ABOVE. THIS ORDER IS PRONOUNCED IN THE OPEN COURT ON 19/06/2015 SD/ - SD/ - [ B.P. JAIN ] [ MAHAVIR SINGH ] ACCOUNTANT MEMB ER JUDICIAL MEMBER DATED 19/06/2015 **PRADIP SPS COPY OF THE ORDER FORWARDED TO : 1 . APPLICANT: THE I.T.O WARD 5(2), KOLKATA. 2 . RESPONDENT : M/S. POLAR INDUSTRIES LTD, PODDAR POIN T , 8 TH FL., 113 PARK ST, KOL - 16. 3 . THE CIT(A) KOL. 4. THE CIT KOL. 5. DR,ITAT, KOL TRUE COPY BY ORDER ASSISTANT REGISTRAR,ITAT,KOL