Principal Commissioner Of Income Tax, 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 CALCUTTA

Special Jurisdiction (Income Tax) ORIGINAL SIDE PRINCIPAL COMMISSIONER OF INCOME TAX, KOLKATA-17 -VersusRUPAYAN 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 Date : 15th July, 2022.

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 13th April, 2016 passed by the Income Tax Appellate Tribunal, Kolkata, "C" Bench, Kolkata in ITA Nos.1943 & 1944/Kol/2014 for the assessment years 2003-04 and 2004-05.

We have heard Mr. Smarajit Roychowdhury, learned standing counsel for the appellant/revenue and Mr. Soumitra Chowdhury,

learned counsel assisted by Mr. Avra Majumdar and Mr. Vinayak Gupta, learned Advocates for the respondent/assessee. From the materials placed before this Court by the learned Advocate appearing for the respondent/assessee, we find that the tax effect for the assessment year 2003-04 is Rs.49,43,956/- and the tax effect for the assessment year 2004-05 is Rs.6,78,498/-.

In the light of the same, the revenue cannot pursue the instant 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 effect and the substantial questions of law are left open. Consequently, the connected application for stay (IA No.GA/1/2016) also stands closed.

(T.S. SIVAGNANAM, J.) (BIVAS PATTANAYAK, J.) As/S.Das AR(CR)