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Income Tax Appellate Tribunal, “A-SMC” BENCH : KOLKATA
Before: Hon’ble Shri S.S. Godara, JM ]
This Assessee’s appeal for assessment year 2014-15 arises against the CIT(A), 1, Kolkata’s order dated 20-06-2018 passed in case no. 591567971130117/CIT(A)- 1/Kol./ITO. Ward-3(2)/2016-17 involving proceedings u/s 143(3) of the I.T Act, 1961 (in short ‘Act’) . Heard both the parties. Case file perused.
It emerges at the outset the assessee’s instant appeal suffers from 39 days stated to be delayed for communication gap between the assessee and its AR.. The Revenue has not disputed the same. I therefore condone the impugned delay of 39 days in filing this appeal. Case is taken up for consideration on merits.
Both the parties reiterate their respective stands against and in support of the impugned addition/disallowance u/s. 14A/R.W.R 8D of the I.T Rules, 1962 amounting to Rs.7,41,845/-. It transpires at the outset that assessee has derived exempt income amounting to Rs.3,750/- only during the relevant previous year. I quote the decision of the hon’ble Delhi high court in 372 ITR 694 (Del) in Joint Investments P.Ltd V/s. CIT to restrict the disallowance to the extent of Rs.3,750/- in these peculiar facts and circumstances. The assesse gets part relief in above terms.
This Assessee’s appeal is partly allowed. Order pronounced in the Court on 15-05-2019 Sd/- [ S.S.Godara ] Judicial Member Dated : 15 -05-2019 **PRADIP, Sr. PS Copy of the order forwarded to:
1. 1. Appellant/Assessee: M/s. Bulk Trade (P) Ltd 2 Barretto Lane, Room No. 104, Kolkata-69.
2. Respondent/Department: Income Tax Officer, Ward 3(2), Aaykar Bhawan,P-7 Chowringhee Square, Kolkata-69. 3..C.I.T(A).- 4. C.I.T.- Kolkata.
5. CIT(DR), Kolkata Benches, Kolkata.