Haldia Petrochemicals Limited, Kolkata vs. DCIT, Circle-11(1), Kolkata
In the result, the appeal of the Assessee is treated as partly allowed while the appeal of the Revenue is dismissed
ITA 622/KOL/2017[2008-09]Status: DisposedITAT Kolkata22 Nov 2018AY 2008-09
Bench: Shri P.M. Jagtap & Shri S.S. Godara, Jm] I.T.A. No. 622/Kol/2017 Assessment Year 2008-09 Haldia Petrochemicals Ltd...............................……………………………….........................Appellant Bengal Eco Entelligent Park (Techna), Tower – 1, Block – Em, Plot No. – 3, Sector – V, Salt Lake City, 3Rd Floor, Kolkata – 700 091 [Pan: Aaach 7360 R] D.C.I.T. Cir 11(1)...................…………………………………………......................................Respondent P-7, Chowringhee Square, Kolkata – 700 069 I.T.A. No. 609/Kol/2017 Assessment Year 2008-09 D.C.I.T. Cir 11(1)...................………………………………………….........................................Appellant P-7, Chowringhee Square, Kolkata – 700 069 Haldia Petrochemicals Ltd...............................………………………………...................Respondent Bengal Eco Entelligent Park (Techna), Tower – 1, Block – Em, Plot No. – 3, Sector – V, Salt Lake City, 3Rd Floor, Kolkata – 700 091 [Pan: Aaach 7360 R] Appearances By: Shri H Chakraborty, Ar Appearing On Behalf Of The Assessee. Shri P.K. Srihari, Cit, Dr Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : November 01, 2018 Date Of Pronouncing The Order : November 22, 2018 Order Shri P.M. Jagtapthese Two Appeals, One Filed By The Assessee Being Ita No. 622/K/2017 & The Other Filed By The Revenue Being Ita No. 609/K/2017, Are Cross Appeals Which Are Directed Against The Order Of Ld. Cit (A) – 10, Kolkata Dated 30.01.2017. 2. The Issue Involved In Ground No. 1 Of The Assessee’S Appeal Relates To The Disallowance Of Rs. 57,53,60,000/- Made By The A.O. & 2 I.T.A. Nos. 622 & 609/Kol/2017 Haldia Petrochemicals Ltd. Confirmed By The Ld. Cit(A) On Account Of Unexplained Excess Consumption Of Raw Material (Nahptha).
Section 143(3)
…refund and interest under section 234D, which is payable on excess refund, could not be charged in assessee's case. In support of this contention, he relied on the decision of the Hon'ble Calcutta High Court in the case of Emami Limited -vs.- CIT reported in 337 ITR 470, wherein interest charged under sections 234B and 234C in the similar situation was cancelled. 15. On the other hand, the ld. D.R. did not raise any material contention and left the matter to be decided by the Tribunal in accordance with law. 16. We have considered the rival submissions and also perused the relevant material available on record…
