Ita/43/2021 Nagreeka Exports Ltd v. Additional Commissioner Of Income Tax, Range 6, Kolkata

OD – 2 IN THE HIGH COURT AT CALCUTTA Special Jurisdiction [Income Tax] ORIGINAL SIDE ITA/43/2021 NAGREEKA EXPORTS LTD. VS ADDITIONAL COMMISSIONER OF INCOME TAX, RANGE 6, KOLKATA BEFORE : THE HON’BLE JUSTICE SURYA PRAKASH KESARWANI And THE HON’BLE JUSTICE RAJARSHI BHARADWAJDate : 27[th] February, 2024 Appearance :Mr. Ranjit Kumar Murarka, Adv. Mr. S.D. Verma, Adv. Mr.Ananda Sen, Adv. Mr. Vivek Murarka, Adv. ...for the appellant. Mr. Smarajit Roy Chowdhury, Adv. Mr. Soumen Bhattacharjee, Adv. ...for the respondent. 1.This appeal was admitted by this Court by an order dated 24[th]November, 2021. This appeal relates to assessment year 2008-09 which was admitted by this Court by an order dated 24[th]November, 2021 on the following substantial questions of law : “I) Whether on the facts and in the circumstances of the case, the order of the Tribunal is erroneous casa being perverse in reversing the order of the C.I.T(A) on the basis of the decision of the Hon’ble Supreme Court where the question for consideration was not allowability under Section 37(1) of the Act as was in the present case? II) Whether on the facts and in the circumstances of the case the order of the Tribunal was erroneous in not properly appreciating the decision of the Hon’ble Supreme Court in RE : Ramaraju Surgical Cotton Mills. (294) ITR 328) a later decision of the Hon’ble Supreme Court and specifically referred to in the petitioner’s submission before the Tribunal?” 2.Identical question being inter parties have been decided today by this Court in ITA 373 of 2009 and both the questions have been answered against the assessee and in favour of the revenue. 3.Respectfully following our judgment in ITA 373 of 2009 passed today, both the afore-quoted substantial questions of law are answered against the assessee and in favour of the revenue. The appeal has no merit and is, therefore, dismissed. (SURYA PRAKASH KESARWANI, J.) (RAJARSHI BHARADWAJ, J.) S.Das/