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Income Tax Appellate Tribunal, KOLKATA ‘D’ BENCH, KOLKATA
Before: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi
Assessment Year: 2011- Assessment Year: 2012-13 Deputy Commissioner of Income Tax, Central Circle-2(2), Kolkata...........................……Appellant M/s. Restore Machines India Pvt. Ltd......................................……………………………............Respondent 4/1A, Jagmohan Mullick Lane Kolkata – 700 007 [PAN : AABCR 3530 L] Appearances by: None, appeared on behalf of the assessee. Shri Sankar Halder, CIT, Sr. D/R, appearing on behalf of the Revenue. Date of concluding the hearing : November 8th, 2018 Date of pronouncing the order : January 9th , 2019 ORDER Per J. Sudhakar Reddy, AM :-
Both these appeals filed by the revenue are directed against the identical orders of the Learned Commissioner of Income Tax (Appeals)-20, Kolkata, (hereinafter the “ld.CIT(A)”), passed u/s. 250 of the Income Tax Act, 1961 (the ‘Act’), dt. 10/10/2017, for the Assessment Year 2011-12 & 2012-13.
As the issues arising in both these appeals are identical, for the sake of convenience they are heard together and disposed off by the way of this common order.
3. None appeared on behalf of the assessee despite issue of notice by RPAD. There was no application moved by the assessee for adjournment either. Under the circumstances we dispose of the case ex-parte on merits qua the assessee after hearing the ld. Departmental Representative.
4. Heard the ld. D/R. We find that there is no exempt income earned by the assessee during both the Assessment Years. When there is no income that is exempt from tax, no disallowance can be made u/s 14A of the Act, as held by the Hon’ble Jurisdictional High 2 Assessment Year: 2011- Assessment Year: 2012-13 M/s. Restore Machines India Pvt. Ltd Court in the case of CIT vs. Ashika Global Securities Ltd. ITAT 100 of 2014, GA 2122 of 2014, judgment dt. 11/06/2018. The Hon’ble Delhi High Court in the case of Cheminvest Ltd. v. Commissioner of Income-tax-IV [2015] 378 ITR 33 (Delhi) has laid down a similar proposition of law.
Respectfully following the propositions of law laid down in these case-law to the facts of the case on hand, I uphold the finding of the findings of the ld. CIT(A) and dismiss these appeals of the revenue.
In the result, both the appeals of the revenue are dismissed.
Kolkata, the 9th day of January, 2019.