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Income Tax Appellate Tribunal, KOLKATA BENCH “B” KOLKATA
Before: Shri P.M.Jagtap & Shri S.S.Godara
DCIT, Circle-1(1) M/s Jessop & Co. Ltd., बनाम P-7, Chowringhee 21 & 22, Jessore Road, / Square, Room No.20, V/s. Kolkata-28 7th Floor, Kolkata-69 [PAN No.AAACJ 6969 N] .. अपीलाथ� /Appellant ��यथ� /Respondent Shri S. Dasgupta, Addl. CIT-DR अपीलाथ� क� ओर से/By Appellant None ��यथ� क� ओर से/By Respondent 15-05-2018 सुनवाई क� तार�ख/Date of Hearing 24-05-2018 घोषणा क� तार�ख/Date of Pronouncement आदेश /O R D E R PER S.S.Godara, Judicial Member:- This Revenue’s appeal for assessment year 2004-05 is directed against Commissioner of Income Tax (Appeals)-5, Kolkata’s order dated 06.04.2015, in appeal No.126/CIT(A)-5/Cir-1/06-07/14-15, reversing the Assessing Officer’s action disallowing adding assessee’s expenditures claim of ₹28,98,932/-in the nature of penalty, in proceedings u/s 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Case called twice. None appears at assessee’s behest. We thus proceed ex parte against the assessee.
Learned Departmental Representative appearing at Revenue’s behest reiterates its sole substantive ground raised in the instant appeal that the CIT(A) has erred in law as well as on facts in deleting the impugned disallowance of ₹28,98,932/- as the same is in the nature of penalty not allowable as expenditure under the provision of the Act.