MODERN INTERNATIONAL,KOLKATA vs. ITO, WARD - 32 (3), KOLKATA, KOLKATA

PDF · subscribers
ITA 349/KOL/2018Status: DisposedITAT Kolkata25 May 2018AY 2012-133 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal found a clear mistake in the assessment order regarding the declared loss versus the assessed income. This error led to an incorrect addition to the assessee's income.

What were the facts?

The Assessing Officer's order incorrectly stated the assessee declared a loss of Rs. 6,61,839, but then assessed income at Rs. 6,61,839 based on a return showing nil income. The CIT(A) failed to rectify this discrepancy.

What were the issues?

Whether the assessment order contained a factual error regarding the declared income and assessed income, and if this error warrants deletion of the addition.

Which sections of the Income-tax Act were involved?

Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘SMC’ BENCH, KOLKATA

Before: Sri J. Sudhakar Reddy]

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘SMC’ BENCH, KOLKATA [Before Sri J. Sudhakar Reddy, Accountant Member] Assessment Year: 2012-13 Modern International….…….……………………………………..……..………………………………Appellant C/o. S.L. Kochar, Advocate 5, Ashutosh Chowdhury Avenue Kolkata – 700 019 [PAN : AAKFM 1904 D] I.T.O. Ward-32(3), Kolkata..……..…….…….…………………………………………….………..Respondent 10B, Middleton Row 2nd Floor Kolkata – 700 071 Appearances by: Shri Anil Kocchar, Advocate, appeared on behalf of the assessee. Shri Sailen Samaddar, Addl. CIT, DR, appearing on behalf of the Revenue Date of concluding the hearing : May 22nd, 2018 Date of pronouncing the order : May 25th, 2018 O R D E R Per J. Sudhakar Reddy :-

This is an appeal filed by the assessee directed against the order of the Commissioner of Income Tax (Appeals)-9, Kolkata, (hereinafter the ‘Ld. CIT(A)’), dt. 08/12/2017, passed u/s 250 of the Income Tax Act, 1961 (hereinafter the ‘Act’), relating to Assessment Year 2012-13.

2.

After hearing rival contentions, I find that the Assessing Officer at page 1 first line of his assessment order has stated that the assessee has declared loss of Rs.6,61,839/-, in a return of income filed on 28/09/2012. Contrary to these observations at page 2, the total income/loss as per return is taken at nil. This mistake has resulted in the income being assessed at Rs.6,61,839/-. The ld. CIT(A) did not bother to correct this error.

3.

In view of the above discussion, I delete the addition and allow this appeal of the assessee.

Assessment Year: 2012-13 Modern International 4. In the result, appeal of the assessee is allowed. Kolkata, the 25th day of May, 2018. Sd/- [J. Sudhakar Reddy] Accountant Member Dated: 25.05.2018 {SC SPS} Copy of the order forwarded to: 1. Modern International C/o. S.L. Kochar, Advocate 5, Ashutosh Chowdhury Avenue Kolkata – 700 019 2. I.T.O. Ward-32(3), Kolkata 10B, Middleton Row 2nd Floor Kolkata – 700 071 3. CIT(A)- 4. CIT- , 5. CIT(DR), Kolkata Benches, Kolkata.

Recent GST High Court judgments

Search GST case law →