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Income Tax Appellate Tribunal, “A” BENCH: KOLKATA
ORDER
Per Shri A.T.Varkey, JM
This appeal preferred by assessee is against the revisional order of Ld. CIT, Kol-1, Kolkata passed u/s. 263 of the Income-tax Act, 1961 (hereinafter referred to as the “Act”) dated 31.03.2014 for AY 2009-10. The grounds of appeal preferred by the assessee are as under:
1. For that the Ld. CIT, Kol-1 has erred in law as well as on facts of the case in passing order u/s. 263 of the I. T. Act, 1961 in respect of Assessment Year 2009-10 on the grounds which are not correct.
2. After going through the impugned order passed by the CIT, we note that in similar cases where the facts are similar has travelled to the Tribunal challenging the order of the CIT and the lead case before the Tribunal being M/s. Subhalaxmi Vanijya Pvt. Ltd. Vs. CIT & Ors. in & Ors. for AY 2009-10 vide order dated 30.07.2015 was dismissed by the Tribunal thereby upholding the order of the CIT. We also note that in similar case wherein the Tribunal affirmed the order of the CIT was later on challenged before the Hon’ble Calcutta High Court in the case of M/s. Rajmandir Estate Pvt. Ltd. Vs.
Pr. CIT 70 Taxmann.com 124 (Cal) wherein their Lordships were pleased to affirm the order of the Tribunal. It is also learnt that some of the assessees aggrieved by the order of the Hon’ble Calcutta High Court had preferred SLP against the decision of Hon’ble Calcutta High Court before the Hon’ble Supreme Court which has also been dismissed, which is reported in 77 Taxmann.com 285 (SC). Therefore, the issue on which the CIT has exercised revisional jurisdiction u/s 263 of the Act is no longer res integra and, therefore, we are not inclined to interfere in the order of the Ld. CIT and dismiss this appeal of assessee.
In the result, appeal of the assessee is dismissed. Order is pronounced in the open court on 14.03.2018