MCNALLY SAYAJI ENGINEERING LIMITED,KOLKATA vs. DCIT, CIRCLE - 1(1), KOLKATA, KOLKATA
In the result, both the appeals are dismissed
ITA 1145/KOL/2018[2013-14]Status: DisposedITAT Kolkata03 Oct 2024AY 2013-14
Bench: Shri Sanjay Garg & Shri Rakesh Mishraassessment Year: 2009-10 & Assessment Year: 2013-14 Mcnally Sayaji Engineering Deputy Commissioner Of Limited, Income Tax, Circle 1(1), Ecospace, Campus 2B, 11F/12 Aayakar Bhavan, P-7, (Old Plot No. Aa Ii/Blk 3), Chowringhee Square, Vs New Town, Rajarhat, Kolkata - 700069 North 24 Paragans, Kolkata - 7000156 (Pan: Aaccs5491A) (Appellant) (Respondent) Present For: Appellant By : Shri Abhishek Sureka, Ar Respondent By : Shri Rakesh Kumar Das, Cit, Dr Shri Vineet Kumar, Addl. Cit, Sr. Dr Date Of Hearing : 08.07.2024 Date Of Pronouncement : 03.10.2024 O R D E R Per Rakesh Mishra: These Two Appeals Filed By The Assessee Are Against The Two Separate Orders Of The Ld. Commissioner Of Income Tax, Kolkata-I, Kolkata (Hereinafter Referred To As “The Ld. Cit”) Passed U/S 250 Of The Income Tax Act, 1961 (Hereinafter Referred To As “The Act”) For Ays 2009-10 & 2013- 14, Dated 28.02.2018 & 13.03.2018 Respectively. Both The Appeals Were Heard Together & Are Being Disposed Of Vide This Common Order For The Sake Of Brevity & Convenience. Mcnally Sayaji Engineering Limited.: Ays: 2009-10 & 2013-14 2. The Grounds Of Appeal Raised By The Assessee Are Reproduced As Under:
For Appellant: Shri Abhishek Sureka, ARFor Respondent: Shri Rakesh Kumar Das, CIT, DR
Section 234CSection 250Section 37Section 40
capital gains as per Section 48 of the Income Tax Act, 1961. Initiation of penalty proceedings under section 271(1)(c) of the Act
7)
For that, the Ld. CIT(A) has erred in treating the initiation of penalty proceedings under section 271(1)(c) of the Act as premature at this stage ignoring the fact that the Appellant
