Paharimata Commodities Pvt. Ltd. v. DCIT, Circle-5(1), Kolkata
[Citation -2019-LL-0830-61]

Citation 2019-LL-0830-61
Appellant Name Paharimata Commodities Pvt. Ltd.
Respondent Name DCIT, Circle-5(1), Kolkata
Court ITAT-Kolkata
Relevant Act Income-tax
Date of Order 30/08/2019
Assessment Year 2015-16
Judgment View Judgment
Keyword Tags exempt income • previous year • disallowance of expenses


IN INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA Before Shri S.S, Godara, Judicial Member ITA No.590/Kol/2019 Assessment Year:2015-16 M/s Paharimata / DCIT, Circle-5(1), Commodities Pvt. Ltd., V/s . Aayakar Bhawan, 8th Office No. 3A, 7th Floor, Floor, P-7, Gate No.2, Poddar Court, Chowrringhee Square, 18, Rabindra Sarani, Kolkata-69 Kolkata-700001 [PAN No.AABCP6236H] Appellant Respondent /By Appellant Shri Amar Nath Kumar, CA By Respondent Shri Sankar Halder, JCIT-SR-DR Date of Hearing 14-08-2019 Date of Pronouncement 30-08-2019 /ORDER This assessee s appeal for assessment year 2015-16, arises against Commissioner of Income-tax (Appeals)-2, Kolkata s order dated 28.01.2018 passed in case No.10732/CIT(A)-2/2017-18 involving proceedings u/s. 143(3) of Income Tax Act, 1961; in short Act . Heard both parties. Case file perused. 2. It transpires at outset that neither of assessee has derived any exempt income in relevant previous year 2014-15. Hon'ble jurisdictional high court s decision in CIT vs Ashika Global Securities Ltd. ITAT 100 of 2004 GA No.2122/2014 dated 11.06.2018 holds that impugned disallowance provision does not come into play in absence of any such exempt income. therefore accept appellant s ITA No.590/Kol/2019 A.Y. 2015-16 M/s Paharimata Commodities Pvt. Ltd. vs. DCIT, Cir-5(1), Kol. Page 2 grievance on this count alone. impugned disallowance of 2,45,124/-forming subject-matter of instant appeal (supra) stands deleted therefore. 3. assessees appeal is allowed in above terms. Order pronounced in open court on 30/08/2019 Sd/- (S.S. Godara) Judicial Member Kolkata, Dkp/Sr.PS - 30/08/2019 Copy of Order Forwarded to:- 1. Appellant-M/s Paharimata Commodities Pvt. Ltd., Office No.3A, 7th Floor, Gate No.2 Poddar Court, Rabindra Sarani, Kolkata-01 2. Respondent-DCIT, Cir-5(1), Ayakar Bhawan, P-7, Chowringhee Sq. Kol-69 3. Concerned CIT 4. CIT (A) 5. DR, ITAT, Kolkata 6. Guard file. By order True Copy Paharimata Commodities Pvt. Ltd. v. DCIT, Circle-5(1), Kolkata
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