AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
2021 (12) TMI 516
X X X X Extracts X X X X
X X X X Extracts X X X X
.... is directed against the order dated 17th October, 2012 passed by the Income Tax Appellate Tribunal, Kolkata "C" Bench (the 'Tribunal' in short) in ITA No.948 to 952/Kol/2017 for the assessment years 2008-09 to 2011-12 and 2013-14. The revenue has raised for the following substantial questions of law for consideration: "(a) Whether in the facts and circumstances of the case, the Learned Tribunal was justified in quashing the order under Section 263 of the Income Tax Act, 1961 for the assessment years 2008-09 to 2011- 12 by holding the assessment orders for these assessment years passed by the assessing officer as not erroneous and prejudicial to interest of revenue as the direction of Pr CIT for making additions on accou....
X X X X Extracts X X X X
X X X X Extracts X X X X
....riving at finding by interpreting the term "Manufacture" occurring in the context of Section 80IB that does not necessarily require that the end product of the manufacturing process by completely different from the ingredients, as regard its chemical composition, integral structure or its use ? (e) Whether in the facts and circumstances of the case, the learned Tribunal was justified in not appreciating that the process of manufacturing of poultry feeds does not amount to mere mixing together of all the different ingredients, without involving any change in the chemical composition of the ingredients ? (f) Whether in the facts and circumstances of the case, the learned Tribunal was justified in not appreciating that the pr....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ita Biswas, learned counsel assisted by Mr. Soumen Bhattacharyya, learned advocate for the appellant/revenue and Mr. J. P. Khaitan, learned senior counsel assisted by Mr. Siddhartha Das and Ms. Swapna Das, learned advocates for the respondent/assessee. There are five assessment years involved in this appeal and the revenue has filed a single appeal challenging the common order passed by the tribunal. In so far as substantial question no.(a) is concerned, it arose for all the assessment years. Substantial question nos.(b) and (g) arose for the assessment year 2009-10; whereas substantial question nos.(c), (d), (e) and (f) arose for the assessment years 2008-09, 2010-11, 2011-12 and 2013-14. Substantial question nos.(h) and (i) are also co....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... make proper enquiries to ascertain the claim of depreciation at the rate of 30% on the lorries. In the opinion of the CIT the issues are clearly linked with the seized document and were required to be examined and verified by the assessing officer during the course of assessment proceeding under Section 143(3)read with Section 153A of the Act. Therefore, the CIT rejected the contention of the assessee that no incriminating evidence related to transactions (sales) with Shalimar Hatcharies Limited and disallowance of excess depreciation of lorries was found during the course of search assessment. CIT was of the opinion that such contention is not based upon facts and therefore not true. Thus, the contention of the assessee that there was no ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n for the alleged difference which has been noted by the tribunal in paragraph-7.1 of the impugned order. Further the assessee contended that the seized documents in SPG-2 from pages 18 to 20 contains trial balance for the period from 1.4.2012 to 31.3.2013 which are part of the regular books of account of the assessee and there is nothing incriminating therein and in any case the seized documents pertain to the assessment year 2013-14 and cannot be termed as incriminating for the assessment year 2009-10. Thus, the argument of the assessee was that the CIT has ignored all the explanations and submissions made by them and merely stated that the assessing officer has not made enquiry with regard to the seized documents and treated the order of....
X X X X Extracts X X X X
X X X X Extracts X X X X
....side and the matter has to be remanded back to the Commissioner of Income Tax for fresh consideration on the said aspect. So far as the issue with regard to the claim for direction under Section 80IB is concerned, it is submitted by the Counsel on either side that such issue does not arise in the assessment year 2009-10. In the result the appeals in so far as the assessment years 2008-09, 2010-11, 2011-12 and 2013-14 are dismissed on the ground of low tax effect. Consequently, the substantial questions of law raised in this appeal in so far as the assessment years, as indicated above, are left open. So far as the order of the tribunal pertaining to the assessment year 2009-10 on two issues, namely, sales bill and depreciation on lorri....