Principal Commissioner Of Income Tax, Kolkata 2 v. M/S. Spencer's Retail Limited

ORDER SHEETIA NO. GA/2/2017(Old No:GA/3070/2017)In ITAT/321/2017IN THE HIGH COURT AT CALCUTTASpecial Jurisdiction (Income Tax)ORIGINAL SIDE PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA 2VsM/S. SPENCER'S RETAIL LIMITED BEFORE: The Hon'ble JUSTICE T. S. SIVAGNANAM And The Hon’ble JUSTICE HIRANMAY BHATTACHARYYA Date : 10 DECEMBER, 2021 Appearance:Mr. P. K. Bhowmik, Adv.Mr. Arunava Ganguly, Adv.…For the Appellant Mr. Pratyush Jhunjhunwala, Adv.Mr. A. K. Dey, Adv.…For the Respondent The Court : This appeal filed by the revenue under Section 260A of theIncome Tax Act (the ‘Act’ in brevity) is directed against the order dated 18[th]November, 2016 passed by the Income Tax Appellate Tribunal, “B” Bench,Kolkata (the ‘Tribunal’) in ITA No.908/Kol/2016 for the assessment year 2011-12. The revenue has raised the following substantial questions of law forconsideration : “(a)Whether on the facts and in the circumstances of the case theLearned Tribunal has erred in law in quashing the order of CIT passed under Section 263 of the Income Tax Act, 1961, by disregarding the specific findingof the CIT that the assessing officer in course of assessment failed toexamine at all the issues in question and there was under assessment andunder charging of the tax ? (b)Whether on the facts and in the circumstances of the caseconclusion arrived at by the Learned Tribunal in quashing the order of theCIT passed under Section 263 of Income Tax Act, 1961 is perverse ?” We have heard Mr. P. K. Bhowmik, learned Standing Counsel appearingfor the appellant/revenue and Mr. Pratyush Jhunjhunwala, learned Counsel withMr. A. K. Dey, Learned Advoate appearing for the respondent/assessee. It is submitted by the Learned Counsel for the respondent that theassessee has availed the benefit of Vivad Se Biswas Scheme and Form-5 hasbeen issued on 8[th] April, 2021. In light of the same, the appeal stands disposed of on the said ground.Consequently, the substantial questions of law are left open. The application being GA No. IA NO.GA/2/2017 (Old No.3070 of 2017)is disposed of. (T. S. SIVAGNANAM, J.) (HIRANMAY BHATTACHARYYA, J.)