Principal Commissioner Of Incometax, Kolkata-17 v. Rupayan Udyog

OD-14 ITAT/377/2016 IA No.GA/1/2016 (Old No.GA/3329/2016) IN THE HIGH COURT AT CALCUTTASpecial Jurisdiction (Income Tax) ORIGINAL SIDE PRINCIPAL COMMISSIONER OF INCOMETAX, KOLKATA-17 -Versus- RUPAYAN UDYOG Appearance:Mr. Smarajit Roychowdhury, Adv....for the appellant. Mr. Soumitra Chowdhury, Adv.Mr. Avra Majumdar, Adv.Mr. Vinayak Gupta, Adv....for the respondent. BEFORE: The Hon’ble JUSTICE T.S. SIVAGNANAM -And- The Hon’ble JUSTICE BIVAS PATTANAYAK The Court : This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the ‘Act’ for brevity)is directed against the order dated 13[th] April, 2016 passed by theIncome Tax Appellate Tribunal, Kolkata, “C” Bench, Kolkata in ITANos.1943 & 1944/Kol/2014 for the assessment years 2003-04 and2004-05. We have heard Mr. Smarajit Roychowdhury, learned standingcounsel for the appellant/revenue and Mr. Soumitra Chowdhury, learned counsel assisted by Mr. Avra Majumdar and Mr. VinayakGupta, learned Advocates for the respondent/assessee. From the materials placed before this Court by thelearned Advocate appearing for the respondent/assessee, we findthat the tax effect for the assessment year 2003-04 isRs.49,43,956/- and the tax effect for the assessment year 2004-05is Rs.6,78,498/-. In the light of the same, the revenue cannot pursue theinstant appeal on the ground of low tax effect. Accordingly, the appeal filed by the revenue(ITAT/377/2016) stands dismissed on the ground of low tax effectand the substantial questions of law are left open. Consequently, the connected application for stay (IANo.GA/1/2016) also stands closed. (T.S. SIVAGNANAM, J.) (BIVAS PATTANAYAK, J.)