Commissioner Of Income Tax,Kolkata-1 v. M/S. Caledonian Jute &Industries Ltd

OD-14 ITA/55/2014 IN THE HIGH COURT AT CALCUTTASPECIAL JURISDICTION (Income Tax)ORIGINAL SIDE COMMISSIONER OF INCOME TAX,KOLKATA-1 -Versus- M/S. CALEDONIAN JUTE &INDUSTRIES LTD. BEFORE :THE HON’BLE JUSTICE SURYA PRAKASH KESARWANIAndTHE HON’BLE JUSTICE RAJARSHI BHARADWAJDate : 20[th] December, 2023 Appearance:Mr. Smarajit Roychowdhury, Adv.…for the appellant Mr. Anil Kumar Dugar, Adv.Mr. Rajarshi Chatterjee, Adv....for the respondents.. The Court : Heard Mr. Smarajit Roychowdhury, learnedstanding counsel for the appellant and Mr. Anil Kumar Dugar,learned Advocate for the respondent/assessee.As per the assessment order, the net loss disclosed bythe assessee was Rs.2,85,65,601/- which was reduced and allowedat Rs.1,41,14,285/-. Thus the differential loss ofRs.1,44,51,316/- was disallowed. The CIT (Appeals) allowed theappeal of the assessee. The revenue filed appeal before theTribunal which was dismissed. Thus, the CIT (Appeals) and the Tribunal both recorded concurrent findings of fact to upholdthe disclosed loss of the assessee. That apart, the lossdisallowed by the assessing officer was only about Rs.1.45crores. The tax burden thereon would be less than the limitprescribed for filing of appeals by the Income Tax Departmentin terms of the Circular No.17/2019 dated 8[th] August, 2019.In view of the aforesaid, the appeal (ITA/55/2014) isdismissed as the tax effect involved is below the limitprescribed under the aforesaid circular. (SURYA PRAKASH KESARWANI, J.) (RAJARSHI BHARADWAJ, J.) As.