Harmuny Entertainment Pvt. Ltd., Kolkata vs. D.C.I.T., Circle - 9(1), Kolkata
In the result, appeal of the assessee is partly allowed
ITA 161/KOL/2023[2012-2013]Status: DisposedITAT Kolkata07 Jul 2023AY 2012-2013
Bench: Dr. Manish Borad, Hon’Ble & Shri Sonjoy Sarma, Hon’Blei.T.A. No. 161/Kol/2023 Assessment Year: 2012-13 Harmuny Entertainment Pvt. Ltd. Dcit, Circle-9(1), Kolkata 32A/28, Suren Sarkar Road Vs Kolkata - 700010 [Pan : Aacch5841H] अपीलाथ"/ (Assessee ) "" यथ"/ (Respondent) Assessee By : Shri Manish Tiwary, A/R Revenue By : Shri G. Hukugha Sema, Cit सुनवाई क" तारीख/Date Of Hearing : 13/04/2023 घोषणा क" तारीख /Date Of Pronouncement: 07/07/2023 आदेश/O R D E R Per Dr. Manish Borad: This Is An Appeal Preferred By The Assessee Against The Order Of The National Faceless Appeal Centre, Delhi (Hereinafter Referred To As The “Ld. Cit(A)”], Passed U/S 250 Of The Income-Tax Act, 1961 (Hereinafter The ‘Act’), Dated 31/01/2023 For The Assessment Year 2012-13. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1.) That On The Facts & In The Circumstances Of The Case, Order U/S 250 Of The Act Dated 31.01.2023 Passed By Ld. Cit (A), Nfac Is Arbitrary, Unjustified & Bad In Law. 2.) That On The Facts & In The Circumstances Of The Case, Ld. Cit(A), Nfac Erred In Confirming The Addition Made By Ao Amounting To Rs. 6,85,53,691/- Towards Provision For Bad & Doubtful Debts Under Provisions Of Income Tax Act, 1961 Without Considering The Fact That The Same Was Actually Written Off From The Accounts Of The Appellant In Previous Year. 3.) That On The Facts & In The Circumstances Of The Case, Ld. Cit(A), Nfac Erred In Confirming The Addition Of Rs. 3,12,27,393/- U/S 41(1) Read With Section 28(Iv) Of The Income Tax Act, 1961 On The Presumption That Liability
For Appellant: Shri Manish Tiwary, A/RFor Respondent: Shri G. Hukugha Sema, CIT
Section 143(1)Section 148Section 234BSection 234DSection 250Section 28Section 32Section 41(1)
…itor has right to claim over the same then in such cases addition on account of cessation of liability u/s 41(1) of the Act, is uncalled for. In support of this contention reliance was placed on the following judgements CIT vs. Sugauli Sugar Works (P.) Ltd. 236 ITR 518 (SC) Goodricke Group Ltd. vs. CIT 338 ITR 116 (Cal) CIT vs. Chougule & Co. (P.) Ltd. 189 FTR 473 (Bom) Ambica Mills Ltd. vs. CIT 54 ITR 167 (Guj.) CIT vs. Silver Cotton Mills Co. Ltd. 254 ITR 728 (Guj.) 6. As regards the disallowance of ₹ 313,010/- incurred by the assessee towards Pandel decoration, it was submitted that event management…
