PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA-4, KOLKATA vs. KESHAVANANDAN INVESTMENT & TRADERS PVT. LTD.
What did the High Court hold?
The High Court dismissed the appeal filed by the revenue under Section 260A of the Income Tax Act, 1961, on the ground of low tax effect. The court recorded the submission made by the learned standing counsel for the appellant/revenue that the appeal could not be prosecuted on this basis. Consequently, the substantial questions of law that were raised in the appeal were left open and not decided on merits. The operative direction was the dismissal of the appeal.
What were the facts?
The appeal was filed by the Principal Commissioner of Income Tax, Kolkata-4 (revenue) under Section 260A of the Income Tax Act, 1961, challenging an order passed by the Income Tax Appellate Tribunal, Kolkata. The assessee is Keshavanabdab Investment & Traders Pvt. Ltd. The specific assessment year(s) and the amount in dispute are not recorded in the judgment. The procedural history leading to the Tribunal's order is also not detailed.
What were the issues?
1. Whether the appeal filed by the revenue under Section 260A of the Income Tax Act, 1961, is maintainable on the ground of low tax effect. The revenue, through its learned standing counsel, submitted that the appeal cannot be prosecuted due to low tax effect. No contentions were recorded for the assessee.
Which sections of the Income-tax Act were involved?
AI-generated summary — verify with the full judgment below
OD-17 IN THE HIGH COURT AT CALCUTTA Special Jurisdiction (Income Tax) ORIGINAL SIDE
ITA 10 of 2017
PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA-4, KOLKATA VERSUS KESHAVANABDAB INVESTMENT & TRADERS PVT. LTD.
BEFORE: The Hon’ble JUSTICE T. S. SIVAGNANAM AND The Hon’ble JUSTICE HIRANMAY BHATTACHARYYA Date : 17th January, 2022. Appearance: Mr. Soumen Bhattacharya, Adv. …for the appellant.
The Court : This appeal filed by the revenue under Section 260A of the Income Tax Act is directed against the order passed by the Income Tax Appellate Tribunal, Kolkata. The learned standing counsel appearing for the appellant/revenue has given instructions to the effect that this appeal cannot be prosecuted by the appellant/revenue on the ground of low tax effect. Recording the said submission, the appeal stands dismissed on the ground of low tax effect. Consequently, substantial questions of law which have been raised are left open.
(T. S. SIVAGNANAM, J.)
(HIRANMAY BHATTACHARYYA, J.) s.pal/pkd
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