2023 (7) TMI 1570

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nsel for the respondent/assessee. There is a delay of 734 days in filing the appeal. Though the explanation offered for delay is not convincing since the question of law suggested in this appeal by the appellant/revenue is covered by an earlier decision of this Court, we exercise our discretion and condone the delay in filing the appeal. Accordingly, the delay in filing the appeal is condoned and the application [GA/1/2023] stands allowed. This appeal has been filed by the revenue under Section 260A of the Income Tax Act, 1961 (for brevity, the Act) challenging the order dated 10th September, 2020 passed by the Income Tax Appellate Tribunal, B- Bench, Kolkata (the Tribunal) in ITA No.1028/Kol/2018 for the assessment year 2013-14. T....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ted 8th July, 2022 the appeal was dismissed. The operative operation of the judgment is reads as follows : "The assessee preferred appeal before the tribunal. The tribunal, in our view, rightly took note of the decision of the Hon'ble Supreme Court in Malabar Industrial Co. Ltd. Vs. Commissioner of Income Tax, reported in (2000) 243 ITR 83 (SC) and Commissioner of Income Tax Vs. Max India, reported in (2007) 295 ITR 282 (SC) and proceeded to examine the facts of the case. The tribunal noted that there was no dispute with regard to the assessee's sale and purchase figures between the group concerns which has been accepted by the assessing officer who proceeded to disallow an estimated 5% of the inflated amount. Considering the factu....