Income Tax Appellate Tribunal - Kolkata
Ito, Ward-7(2)/Kol, Kolkata vs M/S. Raghu Vinncom Pvt. Ltd., Kolkata on 31 May, 2018
आयकर अपील य अधीकरण, यायपीठ - "B" कोलकाता,
IN THE INCOME TAX APPELLATE TRIBUNAL
KOLKATA BENCH "B" KOLKATA
Before Shri S.S.Godara, Judicial Member and
Dr. A.L. Saini, Accountant Member
ITA No.430/Kol/2017
Assessment Year :2011-12
Income Tax Officer, V/s. M/s Raghu Vinncom Pvt.
W ard-7(2), P-7, Ltd., 207, Maharshi
Chowringhee Square, Devendra Road, Room
5 t h Floor, Kolkata-69 No.107, 6 t h Floor, Kolkta-
007
[P AN No. AABCR 3990 G]
अपीलाथ /Appellant .. यथ /Respondent
अपीलाथ क ओर से/By Appellant Shri S. Dasgupta, Addl. CIT-DR
यथ क ओर से/By Respondent Shri S.K. Chaturvedi, CA
सन
ु वाई क तार ख/Date of Hearing 29-05-2018
घोषणा क तार ख/Date of Pronouncement 31-05-2018
आदे श /O R D E R
PER S.S.Godara, Judicial Member:-
This Revenue's appeal for assessment year 2011-12 emanated from Commissioner of Income Tax (Appeals)-18, Kolkata's order 09.01.2017 in cases No.10122/CIT(A)-18/16-17/ITO, Wd-7(2) Kol, in proceedings u/s 143(3) of the Income Tax Act, 1961; in short 'the Act'.
Heard both the parties. Case file perused.
2. Revenue's sole substantive grievance pleaded in the instant appeal is that CIT(A) has erred in law as well as on facts in restricting the Assessing Officer's action making Section 14A r.w Rule 8D disallowance of ₹65,61,800/- to the extent the amount of actual exempt dividend income of ₹4,04,000/-. There is no dispute on facts that the assessee has derived the impugned ITA No.430/Kol/20-17 A.Y. 2011-12 ITO Wd-7(2) Kol. Vs. M/s Raghu Vinncom Pvt. Ltd. Page 2 exempt income from dividends. The question for us is that only that of quantification of the impugned disallowance. The CIT(A)'s discussion in para 4.3 has for considered various judicial precedents in partly accepting assessee grievance to the extent of its exempt income (supra) Hon'ble Delhi high court's judgment in (2015) 372 ITR 694 (Del) Joint. Investment Pvt. Ltd. vs. CIT as well as hon'ble Punjab & Haryana high court's decision in DCIT vs Empering Packaging Pvt. Ltd ITA 415/2015 dated 12.06.2016 decide the very issue in assessee's favour. The Revenue fails to pin-point any distinction on facts or law therein. We thus reject its sole substantive ground pleaded in the instant appeal.
3. This Revenue's appeal is dismissed.
Order pronounced in the open court 31/05/2018
Sd/- Sd/-
(लेखा सद%य) ( या'यक सद%य)
(Dr. A.L. Saini) (S.S.Godara)
(Accountant Member) (Judicial Member)
Kolkata,
*Dkp, Sr.P.S
(दनांकः- 31/05/2018 कोलकाता ।
आदे श क त ल प अ े षत / Copy of Order Forwarded to:-
1. अपीलाथ /Appellant-ITO Ward-7(2), P-7, Chowringhee Sq, 5th Fl, Kolkata-69
2. यथ /Respondent-M/s Raghu Vinncom Pvt. Ltd. 207, Maharshi Devendra Road, Room No.107, 6th Floor, Kolkata-007
3. संब3ं धत आयकर आय4 ु त / Concerned CIT Kolkata
4. आयकर आय4 ु त- अपील / CIT (A) Kolkata
5. 7वभागीय 'त'न3ध, आयकर अपील य अ3धकरण, कोलकाता / DR, ITAT, Kolkata
6. गाड< फाइल / Guard file.
By order/आदे श से, /True Copy/ Sr. Private Secretary, Head of Office/DDO आयकर अपील य अ3धकरण, कोलकाता ।