TaxTMI 
TaxTMI 
2021 (12) TMI 516
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....ctober, 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 account of additional depreciation, suppression of sale a....
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.... 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 process of preparation of poultry feeds does not amount to production of an article withi....
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....nd 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 common to all the assessment years. So far as assessment years 2008-09, 2010- 11, 2011-12 and 2013-14 are concerne....
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.... 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 incriminating material related to the transactions with M/s. Shalimar Hatachries Limited and disallowance of exces....
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....e 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 the assessing officer as erroneous and prejudicial to the interest of revenue. The tribunal while examining the cor....