M/S EVERLINK DISTRIBUTORS PVT. LTD.,KOLKATA vs. THE CIT, KOLKATA-1, KOLKATA, KOLKATA

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ITA 726/KOL/2015Status: DisposedITAT Kolkata14 March 2018AY 2009-20102 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that similar cases with identical facts had been dismissed by the Tribunal and upheld by the Calcutta High Court and the Supreme Court. Therefore, the Tribunal was not inclined to interfere with the CIT's order.

What were the facts?

The assessee appealed against a revisional order passed by the CIT under Section 263 of the Income-tax Act for AY 2009-10. The assessee argued that the CIT erred in passing the order on incorrect grounds.

What were the issues?

Whether the CIT erred in exercising revisional jurisdiction under Section 263 of the Income-tax Act, 1961, on the grounds presented.

Which sections of the Income-tax Act were involved?

Section 263

AI-generated summary — verify with the full judgment below

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Income Tax Appellate Tribunal, “A” BENCH: KOLKATA

Hearing: 04.01.2018Pronounced: 14.03.2018

ORDER

Per Shri A.T.Varkey, JM

1.

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.

3.

In the result, appeal of the assessee is dismissed. Order is pronounced in the open court on 14.03.2018

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