Principal Commissioner Of Income Tax, Kolkata-3, Kolkata v. Itc Limited

OD-15IN THE HIGH COURT AT CALCUTTA Special Jurisdiction(Income Tax)ORIGINAL SIDE ITAT/186/2018 IA No: GA/2/2018(Old No.GA/1377/2018) PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA-3, KOLKATAVERSUS ITC LIMITED BEFORE:The Hon’ble JUSTICE ARIJIT BANERJEEANDThe Hon’ble JUSTICE ARINDAM MUKHERJEEDate : 09[th] July, 2021. Appearance:Mr. J. P. Khaitan, Sr. Adv.Ms. Nilanjana Banerjee Pal, Adv.… for the respondent. The Court:This appeal has come up for admission. The substantialquestion of law framed by the appellant is as follows: “Whether on the facts and in the circumstances of the case theLearned Income Tax Appellate Tribunal “A” Bench erred in law as well asin facts in deciding the appeal in favour of the Assessee when it isevident that the Assessee has claimed double deduction of excise duty onclosing stock amounting to Rs.270,06,83,951, once in profit and lossaccount and further deduction in computation of total income for theAssessment Year 2005-2006 which is not as per “Accounting Standard-2and its guidance note.” However, the Assessee is not justified in claiming double deduction of excise duty on closing stock, once in profit and lossand account and further deduction in computation of total income?” An identical question was framed for consideration of this Court inan appeal filed against an order of the Income Tax Tribunal inITAT/24/2019. A co-ordinate Bench of this Court by an order datedJune 24, 2019 rejected the appeal at the admission stage opining thatthe question referred to above is not a substantial question of law. Further, in ITAT 84/2017, the identical question of law was framedalong with other questions of law. The appeal was admitted by a co-ordinate Bench by an order dated November 7, 2019 on the otherquestions of law but not on the question of law which has been framed inthe present appeal. In view of the aforesaid, we are unable to admit this appeal. The appeal being ITAT 186 of 2018 and application being IANo.GA/2/2018(Old No. GA/1377/2018) are dismissed. (ARIJIT BANERJEE, J.) (ARINDAM MUKHERJEE, J.)