Ita/115/2019 Principal Commissioner Of Income Tax-1, Kolkata v. The Peerless General Finance & Investment Co. Ltd

OD–1 IN THE HIGH COURT AT CALCUTTASPECIAL JURISDICTION (INCOME TAX)ORIGINAL SIDE ITA/115/2019PRINCIPAL COMMISSIONER OF INCOME TAX-1, KOLKATAVS.THE PEERLESS GENERAL FINANCE & INVESTMENT CO. LTD. BEFORE :THE HON’BLE JUSTICE T.S. SIVAGNANAMAndTHE HON’BLE JUSTICE HIRANMAY BHATTACHARYYADate : 16[th] March, 2023 Appearance :Mr. Tilak Mitra, Adv.…for appellantMr. Abhijit Chatterjee, Adv.Mr. Gopal Ram Sharma, Adv.…for respondent The Court : - This appeal filed by the revenue under Section 260A of the IncomeTax Act (the Act) is directed against the order dated 18.3.2016 passed by the IncomeTax Appellate Tribunal “B” Bench, Kolkata in ITA No. 873/Kol/2013 for the Assessmentyear 2009-2010. The appeal was admitted on 27[th] August, 2019 on the followingsubstantial question of law :- “Whether on the facts and in the circumstances fo the case, the learned tribunalerred in law in allowing an addition of Rs.5,44,74,963/- which was disallowed bythe assessing officer under section 14A of the Income Tax Act read with Rule 8Dof the Income Tax Act?” We have heard Mr. Tilak Mitra, learned standing Counsel for the appellant andMr. Abhijit Chatterje, learned senior Counsel duly assisted by Mr. Gopal Ram Sharma,learned Advocate for the respondent/assessee. We need not labour much to decide substantial question of law framed forconsideration as in the assessee’s own case in ITAT/174/2021 for the assessment year 2014-15 the very same substantial question of law was considered and by judgmentdated 12.09.2022 the appeal filed by the revenue was dismissed. In the said appealthere were six substantial questions of law and the third substantial question of law isidentical to the substantial question of law framed in the case on hand. Thus following the said decision in ITAT/174/2021 the appeal filed by therevenue is dismissed and the substantial question of law is answered against therevenue. (T.S. SIVAGNANAM, J.) (HIRANMAY BHATTACHARYYA, J.) pkd/GH