Commissioner Of Income Tax, Kolkata - Ii, Kolkata v. M/S Kay Bee Industrial Alloys Pvt Ltd

ORDER SHEETITA/62/2012IN THE HIGH COURT AT CALCUTTASpecial Jurisdiction (Income Tax)ORIGINAL SIDE COMMISSIONER OF INCOME TAX, KOLKATA - II, KOLKATAVSM/S KAY BEE INDUSTRIAL ALLOYS PVT LTD. BEFORE: The Hon'ble JUSTICE T. S. SIVAGNANAM And The Hon’ble JUSTICE HIRANMAY BHATTACHARYYA Date : 25 MARCH, 2022. Appearance:Ms. Smita Das De, Adv.…For the AppellantMr. Atish Dipankar Ray, Adv.Ms. R. Chaterjee, 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 21[st]December, 2011 passed by the Income Tax Appellate Tribunal, “A” Bench,Kolkata in ITA No.1032/Kol/2011 for the assessment year 2008-09.The revenue has raised the following substantial questions of law forconsideration: “’(i) Whether on the facts and in the circumstances of the case the learnedTribunal was justified in law in deleting the disallowances of Rs.50,000/- onaccount of depreciation without judging genunity of the assessee’s claim ? (ii)Whether on the facts and in the circumstances of the case thelearned Tribubnal was justified in law in deleting the disallowance ofRs.10,66,902/- on account of non deduction of TDS on commission paymentto a non resident ? (iii)Whether on the facts and in the circumstances of the case thelearned Tribunal was justified in law in deleting the addition ofRs.1,04,80,652/- on account of contingent liability without appreciating thefacts that the tax audit report is the parameter for judging the degree ofgenunity of the accounts ? ” We have heard Ms. Smita Das De, learned standing Counsel appearingfor the appellant/revenue and Mr. Atish Dipankar Ray, learned Advocateappearing for the respondent /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 questions of law are leftopen. (T. S. SIVAGNANAM, J.) (HIRANMAY BHATTACHARYYA, J.)