GRIN BEAR ENERGY LIMITED,PATNA V. DC/AC, PATNA

ITA 579/PAT/2024

AI Insights

The case involves Grin Bear Energy Limited, the appellant, contesting an order from the Commissioner of Income Tax (Appeals) which confirmed additions made by the Assessing Officer regarding the introduction of fresh capital and excess loss claimed in revised returns for the Assessment Year 2012-13. The Tribunal noted that the assessee did not receive a notice of hearing from the CIT(A) due to the closure of its business in 2012, leading to unserved notices. The Tribunal found merit in the assessee's request for a fresh opportunity to present its case before the Assessing Officer.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 471223 (ITAT-PATNA)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-02-2025
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Condonation of delay; Set aside; Revised return
• Section: 144; 250

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL PATNA “SMC” BENCH, VIRTUAL HEARING AT KOLKATA Before SRI SANJAY GARG, JUDICIAL MEMBER I.T.A. No.: 579/PAT/2024 Assessment Year: 2012-13 Grin Bear Energy Limited ………….. Appellant 7th Floor, Harihar Apartment, East Boring Canal Road, Patna, Bihar-800001. (PAN: AADCG4085D) Vs. DCIT/ACIT, Circle-1, Patna .............. Respondent Appearances: Appellant represented by: Shri D.V. Pathy & Shri Hiresh Karan, Advocates Respondent represented by: Shri Ashwani Kumar, Sr. DR Date of concluding the hearing : 13.02.2025 Date of pronouncing the order : 13.02.2025 ORDER The captioned appeal has been preferred by the assessee against the order dated 17.05.2024 of the Ld. Commissioner of Income Tax (Appeal), National Faceless Appeal Centre, Delhi [hereinafter referred to as Ld. ‘CIT(A)’] u/s. 250 of the Income Tax Act, 1961 (hereinafter referred to as the “Act”) for Assessment Year (AY) 2012-13. 2. This appeal of assessee is time barred by 56 days. A separate application for condonation of delay has been filed. Considering the averments made the said application, the delay in filing the appeal is hereby condoned. 3. The assessee in this appeal is aggrieved by the action of the Ld. CIT(A) in confirming the addition made by the Assessing Officer of Rs.11,00,000/- on account of introduction of fresh capital and addition of Rs.18,49,406/- was made on account of excess loss claimed in the revised return as compared to the loss claimed in the original return. I.T.A. No.: 579/PAT/2024 Grin Bear Energy, AY : 2012-13 Page 2 of 3 4. At the outset, the Ld. Counsel for the assessee has invited my attention to the impugned assessment order to submit that the same is an ex parte/best judgment order passed u/s. 144 of the Act. The Ld. Counsel for the assessee has further submitted that in fact there was a mistake on the part of the Assessing Officer in correctly appreciating the facts on file. He has submitted that the introduction of capital of Rs. 11,00,000/- in the shape of unsecured loans was already part of the Balance Sheet of the assessee filed along with the original return of income. He has further submitted that even there was no difference of amount of loss claimed by the assessee in the return of income. He has further brought my attention to the impugned order of the Ld. CIT(A) to submit that the same is an ex parte order of the Ld. CIT(A). He has further submitted that the assessee did not receive any notice of hearing from the ld. CIT(A) as the business of the assessee was closed down in the year 2012 and the notices were sent on business address which might have returned unserved. The ld. Counsel for the assessee has submitted that the assessee has a fair case on merits and that he may be given an opportunity to present its case before the Assessing Officer. 5. Considering the overall facts and circumstances of this case, in my view, the interests of justice will be well served, if the assessee is given an opportunity to present its case before the Assessing Officer. Impugned order of the Ld. CIT(A) is accordingly, set aside and the matter is restored to the file of the Assessing Officer for assessment afresh on the issue. Needless to say, the Assessing Officer will give proper opportunity to the assessee to present his case and thereafter to decide the matter in accordance with law. 6. In the result, the appeal of the assessee stands allowed for statistical purposes. Order pronounced in the open Court. Sd/- [Sanjay Garg] Judicial Member Dated: 13.02.2025 J.Dey (Sr. P.S.) I.T.A. No.: 579/PAT/2024 Grin Bear Energy, AY : 2012-13 Page 3 of 3 Copy of the order forwarded to: 1. Appellant : Grin Bear Energy 2. Respondent : DCIT/ACIT, Circle-1, Patna 3. CIT(A), NFAC, Delhi 4. CIT 5. DR, ITAT, Patna Bench, Patna. 6. Guard File. //True copy // By order Assistant Registrar ITAT, Patna Benches Patna "