SRI PANCHMUKHI MINERALS COMPANY PRIVATE LIMITED AMALGAMATED WITH M/S. SENDOZ IMPEX LIMITED,KOLKATA V. D.C.I.T., CIRCLE 7(1) [FORMERLY CIRCLE - 9(2)] KOLKATA, KOLKATA

ITA 1586/KOL/2024

AI Insights

The case involves Shri Panchmukhi Minerals Company Pvt. Ltd., which appealed against the order of the Commissioner of Income Tax (Appeals)-NFAC, Delhi, concerning the assessment year 2010-11. The appellant had availed the VSVS Scheme and made an inadvertent payment error between two assessment years. The primary contention was the incorrect handling of the tax payments and the subsequent issuance of Form No. 5 under the VSVS Scheme. The Tribunal examined the submissions and documents presented, including rectified Form 26AS and various correspondence regarding the VSVS Scheme.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 469708 (ITAT-KOLKATA)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-02-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Laws Referred To: VSVS Scheme, 2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Set aside; FORM 26AS

Judgement Text

"आयकर अपीलȣय अͬधकरण, कोलकाता पीठ “ए’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA Įी राजेश क ुमार, लेखा सटèय एवं Įी Ĥदȣप क ुमार चौबे, ÛयाǓयक सदèय क े सम¢ [Before Shri Rajesh Kumar, Accountant Member &Shri Pradip Kumar Choubey, Judicial Member] I.T.A. No. 1586/Kol/2024 Assessment Year: 2010-11 Shri Panchmukhi Minerals Company Pvt. Ltd. (PAN: AAHCS 9673 H) Vs. DCIT, Circle-7(1), Kolkata (formerly Circle-9(2), Kolkata) Appellant / ) अपीलाथȸ ( Respondent / Ĥ×यथȸ Date of Hearing / सुनवाई कȧ Ǔतͬथ 05.02.2025 Date of Pronouncement/ आदेश उɮघोषणा कȧ Ǔतͬथ 25.02.2025 For the assessee / Ǔनधा[ǐरती कȧ ओर से Shri A. K. Tulsiyan, FCA For the revenue / राजèव कȧ ओर से Shri Sailen Samaddar, Addl. CIT, Sr. DR ORDER / आदेश Per Pradip Kumar Choubey, JM: This is the appeal preferred by the assessee against order of Commissioner of Income Tax (Appeal)-NFAC, Delhi (hereinafter referred to as the Ld. CIT(A)] dated 29.05.2024 for AY 2010-11. 2. The Ld. Counsel for the assessee at the time of argument has submitted that the assessee is availing the VSVS Scheme and has filed an application in this regard. The 2 I.T.A. No. 1586/Kol/2024 Assessment Year: 2010-11 Sri Panchmukhi Minerals Company Pvt. Ltd. Tax payable as per scheme in the case of the assessee company was fully paid and assessee is awaiting Form No. 5 from ACIT. The Ld. Counsel further submits that while making the payment for tax issued under VSVS Scheme, 2020. The assessee inadvertently made payment for AY 2010-11 into 2012-13 vice-versa. It has further been argued that the Ld. CIT(A) grossly erred in passing the order dated 29.05.2024 on merit without considering the merit form no. 26AS of both the years stand rectified as on date and form no. 5 under VSVS Scheme is pending. 3. Ld. D.R did not raise any objection. 4. Upon hearing the submission of counsel of respective parties, we find that the assessee has already availed VSVS scheme and he filed an application in this regard. Assessee filed following papers before us: i) Letter requesting issuance of Form 5 under VSV, 2020 dated 23.10.2025 to PCIT, CCIT, JCIT and AO. ii) Letter requesting issuance of Form 5 under VSV, 2020 dated 12.09.2024 & 05.08.2024 . (Stated as Annexure 1 in letter dated 23.10.2025) iii) Form 1 & 2 for AY 2010-11 dated 29.12.2020 iv) Form 3 for the AY 2010-11 dated 06.01.2021 v) Copy of Tax Payment Challan for the AY 2010-11 dated 31.03.2021 vi) Form 4 for AY 2010-11 dated 03.08.2023 vii) Form 26AS for AY 2010-11 evidencing rectified challan payments for the year viii) Form 1 & 2 for the AY 2012-13 dated 29.12.2020 ix) Form 3 for the AY 2012-13 dated 06.01.2021 x) Copy of Tax payment Challan for the AY 2012-13 dated 31.03.2021 3 I.T.A. No. 1586/Kol/2024 Assessment Year: 2010-11 Sri Panchmukhi Minerals Company Pvt. Ltd. xi) Form 4 for the AY 2012-13 dated 03.08.2023 xii) Form 26AS for the AY 2012-13 evidencing rectified challan payments for the year xiii)Copy of letter requesting withdrawals of appeal as assessee opted VSV, 2020 for the AY 2010-11 dated 03.05.2024, 07.03.2024, 16.11.2023, 04.08.2023, 22.04.2021 & 01.04.2021 xiv) Copy of Indemnity bond for the AY 2010-11 and 2012-13 along with a forwarding letter to the AO dated 22.06.2022. Going over the facts of the case and aforesaid documents we find that order passed by the CIT(A) is erroneous as the CIT(A) without considering the fact that in the present case Form 26AS of both the years stands rectified as on date and the Form No. 5 under VSVs is pending. Keeping in view the above facts, we find any merit in the appeal, accordingly order passed by the CIT(A) is here by set aside. In the result, the appeal filed by the assessee is allowed. Order is pronounced in the open court on 25th February, 2025 Sd/- Sd/- (Rajesh Kumar/राजेश क ुमार) (Pradip Kumar Choubey /Ĥदȣप क ुमार चौबे) Accountant Member/लेखा सदèय Judicial Member/ÛयाǓयक सदèय Dated: 25th February, 2025 SM, Sr. PS 4 I.T.A. No. 1586/Kol/2024 Assessment Year: 2010-11 Sri Panchmukhi Minerals Company Pvt. Ltd. Copy of the order forwarded to: 1. Appellant- Sri Panchmukhi Minerals company Pvt. Ltd. (amalgamated with M/s Sendoz Impex Pvt. Ltd.), 634, Marshall House, 33/1, N. S. Road, Kolkata- 700001 2. Respondent – DCIT, Circle-7(1),Kolkata (formerly Circle-9(2), Kolkata) 3. Ld. CIT(A)-NFAC, Delhi 4. Ld. Pr. CIT- , Kolkata 5. DR, Kolkata Benches, Kolkata (sent through e-mail) True Copy By Order Assistant Registrar ITAT, Kolkata Benches, Kolkata "