ITO, WD-2(3), Kolkata vs. M/S Kolkata Metro Rail Corporation Ltd., Kolkata
In the result, both the appeals filed by Revenue (ITA No
ITA 1362/KOL/2015[2010-2011]Status: DisposedITAT Kolkata22 Dec 2017AY 2010-2011
Bench: Shri S.S. Viswanethra Ravi, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1362/Kol/2015& 49/Kol/2016 (िनधा"रणवष" / Assessment Year: 2010-11& 2011-12) I.T.O Wd-2(3), Kolkata Vs. M/S Kolkata Metro Rail Corpn. Ltd. Aayakar Bhawan, P-7, Chowringhee Square, 7Th Floor, Hrbc Bhavan, 4Th& 5Th R/No.21, Kol – 69. Floor, Munshi Prem Chand Sarani, Kolkata – 700 021. "थायीलेखासं./जीआइआरसं./Pan/Gir No. :Aadck 5313 J (Appellant) .. (Assessee) Appellantby : Shriarindam Bhattacharjee, Addl. Cit Assesseeby :Shri Vikash Singhal. सुनवाईकीतारीख/ Date Of Hearing : 12/10/2017 घोषणाकीतारीख/Date Of Pronouncement : 22/12/2017 आदेश / O R D E R Per Dr. Arjun Lal Saini, Am: These Captioned Two Appeals Filed By The Revenue,Pertaining To Assessment Year 2010-11,Aredirected Against The Order Passed By The Ld Commissioner Of Income Tax (Appeals)-1,Kolkata,Which In Turn Arise Out Of Assessment Orders Passed By The Assessing Officer U/S 143(3)Of The Income Tax Act, 1961 (Hereinafter Referred To As The ‘Act’). 2.Since These Two Appeals Relate To The Same Assessee, Different Assessment Years, Identical Issues Are Involved, Therefore, These Have Been Clubbed & Heard Together & A Consolidated Order Is Being Passed For The Sake Of Convenience & Brevity.The Revenue’S Appeal In Ita No.1362/Kol/2015, A.Y 2010-11, Is Taken As The Lead Case. 4.The Grounds Of Appeal Raised By The Revenue (In Lead Case In Ita No.1362/Kol/2015, A.Y 2010-11) Are As Under:
For Appellant: ShriArindam Bhattacharjee, Addl. CIT
Section 143(1)Section 143(2)Section 143(3)Section 56
…ults of the assessee company, the interest income was accrued during the pre-operative period. During the appellate proceedings, the assessee company relied on the judgment of Delhi High Court in the case Indian Oil Panipat Power Consortium Ltd. v. ITO (2009) 315 ITR 255 (Del), whereinit was held that M/s Kolkata Metro Rail Corpn. Ltd. ITA No.1362/Kol2015& 49/Kol/2016 Assessment Years: 2010-11&2011-12 since the incomes were earned in a period from prior to commencement of the business, in view of the matter, the monies which were inducted into joint venture company by the joint venture partners, primarily to purc…
