Commissioner Of Income Tax, Koikata -Iv, Kolkata v. M/S. Khaitan India Ltd

OD-4 ORDER SHEETITA/99/2018IN THE HIGH COURT AT CALCUTTASpecial Jurisdiction (Income Tax)ORIGINAL SIDE COMMISSIONER OF INCOME TAX, KOIKATA -IV, KOLKATAVSM/S. KHAITAN INDIA LTD. BEFORE: The Hon'ble JUSTICE T. S. SIVAGNANAM And The Hon’ble JUSTICE HIRANMAY BHATTACHARYYA Date : 25 MARCH, 2022. Appearance:Mrs. Smita Das De, Adv.…For the AppellantMr. A. Agarwal, Adv.Mr. Farhan Ghaffar, Adv.Mrs. S. Chakraborty, Adv.…For the Respondent The Court : This appeal filed by the revenue under Section 260A of theIncome Tax Act, 1961 (the ‘Act’ in brevity) is directed against the order dated 13[th]February, 2014 passed by the Income Tax Appellate Tribunal, “A” Bench, Kolkatain I.T.A No.1841 to 1843/Kol/2008 for the assessment year 2004-05. The revenue has raised the following substantial question of law forconsideration: “’(i) Whether on the facts and in the circumstances of the case theTribunal was justified in law in reversing the decision of the C.I.T.(A) therebydeleting the additions made by the Assessing Officer despite the fact that the assessee’s claim of interest expenses is in the nature of unascertainedliability as the assessee did not consider the expenses in the books ofaccounts and also did not pay within the statutory period ?” We have heard Ms. Smita Das De, learned standing Counsel appearingfor the appellant/revenue and Mr. A. Agarwal, learned Counsel appearing for therespondent/assessee. It is submitted by the learned Counsel for the appellant/revenue thatthis appeal is not being pursued by the revenue on the ground of low tax effect.This submission is placed on record and the appeal stands dismissed on theground of low tax effect. Consequently, the substantial question of law is leftopen. (T. S. SIVAGNANAM, J.) (HIRANMAY BHATTACHARYYA, J.) S.De/SN