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Income Tax Appellate Tribunal, KOLKATA BENCH “SMC” KOLKATA
Before: Shri S.S, Godara
This assessee’s appeal for assessment year 2011-12, arises against the Commissioner of Income-tax (Appeals)-2, Kolkata’s order dated 29.04.2016 passed in case No.1260/CIT(A)-2/14-15 involving proceedings u/s. 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file perused.
The assessee’s sole substantive ground pleaded in the instant appeal seeks to reverse both the lower authorities action disallowing administrative expenditure of ₹1,25,200/- in relation to its exempt income of ₹1,96,423/-. This assessee is stated to be engaged in money landing business as a company. Its director admittedly have not received any dividend or remuneration as it transpires during the course of hearing. It derived impugned exempt income from dividends in mutual funds. Learned
ITA No.1138/Kol/2016 A.Y. 2011-12 M/s Ranisati Distributors Pvt. Ltd. vs. ITO Wd-4(1), Kol. Page 2 Departmental Representative fails to indicate any actual expenditure incurred by of assessee under the head “administrative expenditure”. This Tribunal’s decision in Gautam Kumar Mitra vs. DCIT in ITA No.1336/Kol/2013 decided on 27.05.2016 holds that the impugned disallowance provision does not apply in absence of any actual expenditure. I direct the Assessing Officer to delete the impugned administrative expenditure disallowance therefore.
This assessee’s appeal is allowed. Order pronounced in open court on 31/01/2019 (S.S. Godara) Judicial Member Kolkata, *Dkp/Sr.PS "दनांकः- 31/01/2019 कोलकाता आदेश क" ""त"ल"प अ"े"षत / Copy of Order Forwarded to:- 1. अपीलाथ"/Appellant-M/s Ranisati Distributors Pvt. Ltd., 13, Becharam Chowdhury Lane, Howrah-711101
""यथ"/Respondent-ITO Ward-4(1), P-7, Chowringhee Sq. Kolkata-69 3. संबं"धत आयकर आयु%त / Concerned CIT 4. आयकर आयु%त- अपील / CIT (A) 5. &वभागीय ")त)न"ध, आयकर अपील"य अ"धकरण कोलकाता / DR, ITAT, Kolkata 6. गाड+ फाइल / Guard file. By order/आदेश से, // उप/सहायक पंजीकार आयकर अपील"य अ"धकरण, कोलकाता ।