Principal Commissioner Of Income Tax-4, Kolkata v. Vesuvius India Limited

OD - 12 IN THE HIGH COURT AT CALCUTTASPECIAL JURISDICTION (INCOME TAX)ORIGINAL SIDE IA NO: GA/2/2017 (OLD NO. GA/4013/2017)INITAT/428/2017 PRINCIPAL COMMISSIONER OF INCOME TAX-4, KOLKATAVS.VESUVIUS INDIA LIMITED BEFORE : THE HON’BLE JUSTICE T.S. SIVAGNANAM A N DTHE HON’BLE JUSTICE HIRANMAY BHATTACHARYYADate: November 30, 2021. Appearance :Mr. P. K. Bhowmik, Adv.… for the appellantMr. Samak Basu, Adv.Mr. Somnath Bera, Adv.…for the respondent The Court : This appeal by the Revenue filed under Section260A of the Income Tax Act, 1961 (the Act, in brevity) is against theorder dated 3[rd] May, 2017 passed by the Income Tax AppellateTribunal “C” Bench, Kolkata in ITA No. 2136/Kol/2013 for theAssessment Year 2000-01. The Revenue has raised the following substantial questionsof law for consideration: 1.Whether on the facts and circumstances of thecase, the Learned Tribunal was justified in law in quashing the order of re-assessment under Section147/143(3) of the Income Tax Act, 1961? 2.Whether on the facts and circumstances of thecase, the learned Tribunal was justified in law inholding that it was merely a change of opinion by theAssessing Officer when the particular issue was notdecided by the Assessing Officer at the time ofassessment? We have heard Mr. P. K. Bhowmik, learned senior standingcounsel for the appellant/Revenue and Mr. Basu, learned counsel forthe respondent/Assessee. It is submitted on behalf of the appellant/Revenue that thepresent appeal is hit by the circular issued by the CBDT and theRevenue cannot pursue this appeal on the ground of low tax effect. On the above submission, the appeal stands disposed of onthe ground of low tax effect. Consequently, substantial questions oflaw are left open. (T. S. SIVAGNANAM, J.) (HIRANMAY BHATTACHARYYA, J.)