Metalind Private Limited, Kolkata vs. DCIT, CC-1(3), Kolkata
In the result, both the appeals of the assessee are allowed
ITA 1242/KOL/2017[2012-13]Status: DisposedITAT Kolkata10 Apr 2019AY 2012-13
Bench: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi] I.T.A. No. 1241/Kol/2017 Assessment Year: 2011-12 & I.T.A. No. 1242/Kol/2017 Assessment Year: 2012-13 Metalind Private Ltd...........……………………………………....…………………………………………Appellant 51, Canal East Road Kolkata – 700 085 [Pan : Aaccm 2883 J] Deputy Commissioner Of Income Tax, Central Circle-1(3), Kolkata.......…..…......Respondent Appearances By: Shri S.M. Surana, Advocate, Appeared On Behalf Of The Assessee. Shri A.K. Singh, Cit D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : February 12Th, 2019 Date Of Pronouncing The Order : April 10Th , 2019 O R D E R Per J. Sudhakar Reddy, Am :- Both These Appeals Filed By The Assessee Are Directed Against The Separate But Identical Orders Of The Learned Principal Commissioner Of Income Tax - 1, Kolkata, (Ld. Pr. Cit) Passed U/S. 263 Of The Income Tax Act, 1961, (The ‘Act’), Both Dt. 22/03/2017, For The Assessment Years 2011-12 & 2012-13. 2. Both These Appeals Belong To The Same Assessee. Hence For The Sake Of Convenience, They Are Heard Together & Disposed Off By Way Of This Common Order. 3. The Assessee Is A Company & Is In The Business Of Real Estate & Related Activities. It Filed Its Original Return Of Income For The Assessment Year 2011-12 On 29/09/2011, Declaring Nil Income & For The Assessment Year 2012-13 On 29/09/2012, Declaring Total Income Of Rs.5,48,59,970/-. A Search & Seizure Operation Was Conducted U/S 132 Of The Act On The Assessee On 04/10/2012. Consequentially Notice U/S 153A Of The Act, Were Issued & The Assessee Filed Its Return Of Income In Response Thereto Declaring The Same Income As That Disclosed By It In The Original Return Of Income For Both The Assessment Years. The Assessing
Section 132Section 143(3)Section 153ASection 263Section 40
…ch of the ITAT in the case of Pavitra Realcon Pvt. Ltd., New Delhi vs. ACIT, Central Circle-32, New Delhiin ITA.Nos. 3185, 3186 & 3253/Del./2015 dated 04.10.2017 and the judgment of the Hon’ble Delhi High Court in the case of CIT v. RRJ Securities Ltd. [2016] 380 ITR 612 (Delhi), for the proposition that seized 5 I.T.A. No. 1241/Kol/2017 Assessment Year: 2011-12 & I.T.A. No. 1242/Kol/2017 Assessment Year: 2012-13 Metalind Private Ltd documents which are part of regular books of account etc. cannot be considered as incriminating material. He relied on a number of decisions for the proposition that no additio…
