DCIT, Circle - 3, Kolkata, Kolkata v. M/s. The Peerless General Finance Company Pvt. Ltd., Kolkata

ITA 439/KOL/2010 | 1995-1996
Pronouncement Date: 19-07-2011

Appeal Details

RSA Number 43923514 RSA 2010
Assessee PAN AABCT3043L
Bench Kolkata
Appeal Number ITA 439/KOL/2010
Duration Of Justice 1 year(s) 4 month(s) 23 day(s)
Appellant DCIT, Circle - 3, Kolkata, Kolkata
Respondent M/s. The Peerless General Finance Company Pvt. Ltd., Kolkata
Appeal Type Income Tax Appeal
Pronouncement Date 19-07-2011
Appeal Filed By Department
Bench Allotted A
Tribunal Order Date 19-07-2011
Date Of Final Hearing 19-07-2011
Next Hearing Date 19-07-2011
Assessment Year 1995-1996
Appeal Filed On 26-02-2010
Judgment Text
IN THE INCOME TAX APPELLATE TRIBUNAL BENCH A KOLKATA [ () . .. . ! ! ! !. .. . '# ] ]] ] [BEFORE HONBLE SRI MAHAVIR SINGH JM & HONBLE S RI C. D. RAO AM] % % % % /ITA NO.439/KOL/2010 &' ()/ ASSESSMENT YEAR : 1995-96 (+ / APPELLANT ) - & - ( ./+ /RESPONDENT) D.C.I.T.CIRCLE-3 KOLKATA -VERSUS- M/S.THE PEERLE SS GENERAL FINANCE COMPANY PVT.LTD. (PAN: AABCT 3043 L ) + 0 1 '/ FOR THE APPELLANT: SHRI P.P.SARKAR ./+ 0 1 '/ FOR THE RESPONDENT: SHRI S.K.TULSIYAN '2 / ORDER THIS APPEAL IS FILED BY THE REVENUE AGAINST THE OR DER DATED 3.11.2009 OF THE CIT(A)-I KOLKATA PERTAINING TO A.YR. 1995-96. 2. THERE IS A DELAY OF 10 DAYS IN FILING OF THE APPEAL BY THE REVENUE FOR WHICH THE REVENUE HAS FILED A CONDONATION PETITION EXPLAINING THE REASONS FOR SUCH DELAY. AFTER CONSIDERING THE SUBMISSIONS BY THE REVENUE THE DELA Y IS CONDONED. 3. THE ONLY ISSUE RAISED BY THE REVENUE IN THIS APPEAL IS RELATING TO THE CANCELLATION OF THE ORDER PASSED BSY THE AO UNDER SECTION 154/25 1/143(3)/154 DATED 30.06.2008. 4. THE LD. COUNSEL APPEARING ON BEHALF OF THE ASSESSEE SUBMITTED THAT ON SIMILAR FACTS THIS TRIBUNAL IN ASSESSEES OWN CASE FOR A.YR . 2000-01 DISMISSED THE REVENUES APPEAL IN ITA NO.367/KOL/2010 DATED 09.04.2010. THE REFORE HE REQUESTED TO DISMISS THE APPEAL OF THE REVENUE. 5. ON THE OTHER HAND THE LD. DR APPEARING ON BEHAL F OF THE REVENUE COULD NOT RAISE ANY OBJECTION TO THE SUBMISSIONS OF THE LD. C OUNSEL OF THE ASSESSEE. 2 6. AFTER HEARING THE RIVAL SUBMISSIONS AND ON CAREF UL PERUSAL OF MATERIALS AVAILABLE ON RECORD IT IS OBSERVED THAT IN ASSESSE ES OWN CASE FOR A.YR. 2000-01 THIS TRIBUNAL HAS HELD THAT ALLOWING OF INTEREST UNDER S ECTION 244A IS A DEBATABLE ISSUE AND THE SANE CANNOT BE RECTIFIED BY APPLYING THE PROVIS IONS OF SECTION 154 OF THE I.T.ACT. THEREFORE WE ARE OF THE VIEW THAT THERE IS NO INFI RMITY IN THE ORDERS OF THE LD. CIT(A) TO BE INTERFERED WITH. HENCE WE CONFIRM THE SAME A ND DISMISS THE APPEAL OF THE REVENUE. 7. IN THE RESULT THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 19.07.2011 SD/- SD/- [ ] [ . !. '# ] [ MAHAVIR SINGH ] [ C. D. RAO ] JUDICIAL MEMBER ACCOUNTANT MEMBER ( (( (!# !# !# !#) )) ) DATE: 19.07.2011. R.G.(.P.S.) '2 0 .3 4'3(5- COPY OF THE ORDER FORWARDED TO: 1. THE PEERLESS GENERAL FINANCE & INVESTMENT COMPANY L TD. 3 GOVT. PLACE (EAST) KOLKATA-700069. 2 THE D.C.I.T. CIRCLE-3 KOLKATA. 3. THE CIT 4. THE CIT(A)-I KOLKATA 5. DR KOLKATA BENCHES KOLKATA /3 ./ TRUE COPY '2&:/ BY ORDER DEPUTY /ASST. REGISTRAR ITAT KOLKATA BENCHES 3