Calcutta High Court
Commissioner Of Income Tax vs M/S. Creative Jewels India Pvt.Ltd on 25 March, 2011
Author: Bhaskar Bhattacharya
Bench: Bhaskar Bhattacharya
ITAT No. 79 of 2011
G.A.826 of 2011
IN THE HIGH COURT AT CALCUTTA
Special Jurisdiction (Income-tax)
Original Side
COMMISSIONER OF INCOME TAX,CENT-I KOL. Appellant
Versus
M/S. CREATIVE JEWELS INDIA PVT.LTD. Respondent
For Appellant : Mrs. Smita Das De, Advocate For Respondent :
BEFORE:
The Hon'ble JUSTICE BHATTACHARYA The Hon'ble JUSTICE DR. SAMBUDDHA CHAKRABARTI Date : 25th March, 2011.
THE COURT : This appeal is at the instance of Revenue under Section 260A of the Income Tax Act and is directed against Order dated 31st August, 2010 passed by the Income Tax Appellate Tribunal, "B" Bench, Kolkata in ITA No. 2039(Kol) of 2009 for the assessment year 2006-07 by which the Tribunal has dismissed the appeal filed by the Revenue and has affirmed the order of the Commissioner of Income-tax (Appeals).
The Commissioner of Income-tax (Appeals) set aside the order of the Assessing Officer by giving detailed reason. 2
Being dissatisfied, Revenue preferred an appeal before the Tribunal below. The Tribunal below in the Order impugned has noted in details all the bank accounts along with the cheque numbers of the share applicants concerned from whom the assessee has received the share application money.
It further appears that during the course of the proceedings, when the Assessing Officer observed that those share applicants were not found at the addresses given, the assessee filed new addresses of the said share applicants along with relevant particulars thereof after obtaining the said details from MCA Website including registration number with ROC, authorised capital, paid capital, the date of incorporation etc. The details in respect of all the abovenamed share applicants were indicated by the Tribunal below and it was observed that the assessee also filed copies of income tax acknowledgement returns with PAN numbers for the assessment year 2006-07 in respect of all the abaovenamed share applicants excepting one applicant, i.e. Vidya Vinicom Pvt.Ltd. and in respect of that Vidya Vinicom, the assessee furnished only PAN number. The Tribunal further observed that the assessee also filed copies of balance sheets, copies of bank statements in respect of the abovenamed share 3 applicants and on perusal of the above documents, the Tribunal came to the conclusion that all the share applicants were registered companies having PAN numbers and were assessed with income-tax.
On consideration of the aforesaid materials on record, we are of the view that there is no scope of interference with the concurrent findings of fact recorded both by the Tribunal below and the Commissioner of Income-tax (Appeals) regarding existence of those companies which are essentially a finding of fact based on appreciation of all documents. Such finding of fact recorded by the authorities below cannot be branded as a perverse finding of fact so as to entertain this appeal under section 260A of the Act on the ground of substantial question of law.
We, thus, dismiss this appeal summarily. In view of dismissal of the appeal, the connected application has become infructuous and the same is disposed of accordingly.
Photostat certified copy of this order be made available to the parties upon compliance of usual formalities.
( BHATTACHARYA, J.) (DR. SAMBUDDHA CHAKRABARTI, J.) Rsg AR(CR)