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Income Tax Appellate Tribunal, “SMC” BENCH : KOLKATA
Before: Hon’ble Shri S.S. Godara, JM ]
ORDER Shri S.S. Godara, JM:
This Assessee’s appeal for assessment year 2014-15 arises against the CIT(A), 14, Kolkata’s order dated 26-07-2018 passed in case no. 10274/CIT(A)-14/Wd- 14(3)/2016-17 involving proceedings u/s 143(3) of the I.T Act, 1961 (in short ‘Act’) . Heard learned Departmental Representative. Case file perused.
Shri C.J. Singh, CIT, ld.DR strongly supported the lower authorities’ action in making disallowance u/s. 14A/R.W.R 8D of the I.T Rules, 1962. It transpires at the outset that assessee has not derived any exempt income. The hon’ble jurisdictional high court’s decision in Ashika Global Logistic Security Ltd., GA No. 2122 of 2014 dt. 11. 06.2018 holds that the impugned impugned disallowance does not apply in absence of any exempt income. I therefore delete the impugned disallowance as made on this count alone.
M/s. Artline Financial Management P.Ltd
This Assessee’s appeal is allowed. Order pronounced in the Court on 10 -05-2019 Sd/- [ S.S.Godara ] Judicial Member Dated : 10 -05-2019 **PRADIP, Sr. PS Copy of the order forwarded to:
1. 1. Appellant/Assessee: M/s. Artline Financial Management P.Ltd D/70 Dinesh Nagar, 208/35/7/2/3, Kolkata-99.
2. Respondent/Department: Income Tax Officer, Ward 14(3), Kolkata 3..C.I.T(A).- 4. C.I.T.- Kolkata.
5. CIT(DR), Kolkata Benches, Kolkata.