Commissioner Of Income Tax, Kolkata - Ii v. M/S. Ganeshbari Tea Co. (P) Ltd

O–98 IN THE HIGH COURT AT CALCUTTASPECIAL JURISDICTION (INCOME TAX)ORIGINAL SIDE ITA/151/2011 COMMISSIONER OF INCOME TAX, KOLKATA - IIVs.M/s. GANESHBARI TEA CO. (P) LTD. BEFORE :THE HON’BLE JUSTICE T.S. SIVAGNANAMAndTHE HON’BLE JUSTICE HIRANMAY BHATTACHARYYADate : 20 FEBRUARY, 2023 Appearance :Mr. Amit Sharma, Adv...for appellant The Court : - This appeal filed by the revenue under Section 260A of the IncomeTax Act, 1961 (the Act) is directed against the order dated February 1, 2011 passed bythe Income Tax Appellate Tribunal “B” Bench, Kolkata in ITA No. 2088/Kol/2010 forthe assessment year 2006-07. The appeal was admitted on 2.8.2011 on the followingsubstantial questions of law :- i)Whether on the facts and in the circumstances of the case, the learnedTribunal below committed substantial error of law in restricting thedisallowance of Rs.16,00,000/- to Rs.11,33,440/- under section 2(24)(x)and Sec.43B of the Income-tax Act, 1961 without appreciating the factthat the respondent could not file any evidence in support of the saidclaim?Tribunal below committed substantial error of law in restricting thedisallowance of Rs.16,00,000/- to Rs.11,33,440/- under section 2(24)(x)and Sec.43B of the Income-tax Act, 1961 without appreciating the factthat the respondent could not file any evidence in support of the saidclaim? ii)Whether the learned Tribunal below committed substantial error of law intreating the interest on account of loan granted to the sister concerns ofthe respondent as interest free loan ?treating the interest on account of loan granted to the sister concerns ofthe respondent as interest free loan ? We have heard Mr. Amit Sharma, learned standing Counsel on behalf of theappellant. As could be seen from the substantial questions of law which have been admittedfor consideration the tax effect in this appeal is much lower the threshold limit fixed bythe C.B.D.T. Therefore, the revenue cannot pursue this appeal. Accordingly, the appeal stands disposed of on the ground of low tax effect and thesubstantial questions of law are left open. (T.S. SIVAGNANAM, J.) Pkd/GH. (HIRANMAY BHATTACHARYYA, J.)