Principal Commissioner Of Income Tax-4, Kolkata v. Vesuvius India Limited

OD - 12

IN THE HIGH COURT AT CALCUTTA

SPECIAL JURISDICTION (INCOME TAX) ORIGINAL SIDE IA NO: GA/2/2017 (OLD NO. GA/4013/2017) IN ITAT/428/2017 PRINCIPAL COMMISSIONER OF INCOME TAX-4, KOLKATA VS.

VESUVIUS INDIA LIMITED BEFORE :

THE HON'BLE JUSTICE T.S. SIVAGNANAM A N D THE HON'BLE JUSTICE HIRANMAY BHATTACHARYYA Date: November 30, 2021.

Appearance :

Mr. P. K. Bhowmik, Adv.

... for the appellant Mr. Samak Basu, Adv.

Mr. Somnath Bera, Adv.

...for the respondent The Court : This appeal by the Revenue filed under Section 260A of the Income Tax Act, 1961 (the Act, in brevity) is against the order dated 3rd May, 2017 passed by the Income Tax Appellate Tribunal "C" Bench, Kolkata in ITA No. 2136/Kol/2013 for the Assessment Year 2000-01.

The Revenue has raised the following substantial questions of law for consideration:

1. Whether on the facts and circumstances of the case, the Learned Tribunal was justified in law in

quashing the order of re-assessment under Section 147/143(3) of the Income Tax Act, 1961?

2. Whether on the facts and circumstances of the case, the learned Tribunal was justified in law in holding that it was merely a change of opinion by the Assessing Officer when the particular issue was not decided by the Assessing Officer at the time of assessment?

We have heard Mr. P. K. Bhowmik, learned senior standing counsel for the appellant/Revenue and Mr. Basu, learned counsel for the respondent/Assessee.

It is submitted on behalf of the appellant/Revenue that the present appeal is hit by the circular issued by the CBDT and the Revenue cannot pursue this appeal on the ground of low tax effect. On the above submission, the appeal stands disposed of on the ground of low tax effect. Consequently, substantial questions of law are left open.

(T. S. SIVAGNANAM, J.) (HIRANMAY BHATTACHARYYA, J.) pkd/sp3