Confirm Realbuild(P)Ltd, Kolkata V. ITO, Ward 6(1), Kolkata

ITA 1036/KOL/2023

• Counselvise Citation: [2023] 101 COUNSELVISE.COM (IT) 9783 (ITAT-KOLKATA)
• Duration Of Justice: 2 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-11-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 28-11-2023
• Assessment Year: 2012-2013
• Appeal Filed On: 26-09-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 250; 143(2)

Judgement Text

आयकर अपीलȣय अͬधकरण, कोलकाता पीठ ‘बी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA Įी संजय गग[, ÛयाǓयक सदèयएवं Įी ͬगरȣश अĒवा ,लेखा सदèय के सम¢ Before Shri Sanjay Garg, Judicial Member and Shri Girish Agrawal, Accountant Member I.T.A. No.1036/Kol/2023 Assessment Year: 2012-13 Confirm Realbuild Pvt. Ltd.(successor to Lookline Tradelinks Pvt. Ltd. (successor to Sanjukta Vanijya Pvt. Ltd)................................................................Appellant 63, Radha Bazar Street, 3 rd Floor, Room No.T/5, Kolkata-700001. [PAN: AAMCS7960G] vs. ITO, Ward-6(1), Kolkata....................................................................... Respondent Appearances by: Shri Akkal Dudhewala, AR, appeared on behalf of the appellant. Shri P. P. Barman, Addl. CIT- Sr. DR, appeared on behalf of the Respondent. Date of concluding the hearing : November 29, 2023 Date of pronouncing the order : November 29, 2023 आदेश / ORDER संजय गग[, ÛयाǓयकसदèयɮवारा/ Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the assessee against the order dated 19.12.2022 of the National Faceless Appeal Centre [hereinafter referred to as ‘CIT(A)’] passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’). 2. The assessee in this appeal apart from contesting the addition made by the Assessing Officer on account of loss claimed of Rs.75,61,666/- treating the share transaction entered by the assessee I.T.A. No.1036/Kol/2023 Assessment Year: 2012-13 Confirm Realbuild Pvt. Ltd 2 as bogus, has, inter alia, contested the very validity of the assessment order, the same being framed on a non-existent entity. 3. The plea of the ld. AR is that the assessee company stood amalgamated with M/s Lookline Tradelinks Pvt. Ltd. vide National Company Law Tribunal order dated 24.04.2019. The factum of the aforesaid amalgamation was also conveyed to the Assessing Officer vide letter dated 01.07.2019, copy of which has been placed on file at page 60 of the paper-book which was duly received in the office of the Assessing Officer vide acknowledgement/seal dated 13.08.2019. However, despite the aforesaid factum of amalgamation of the assessee company brought into the knowledge of the Assessing Officer, the Assessing Officer issued notice u/s 143(2) of the Act dated 22.08.2019 for proceeding with the assessment proceedings, which was after the date of amalgamation of the assessee company in the month of April 2019 and even after the factum of amalgamation brought to the knowledge of the Assessing Officer vide letter dated 01.07.2019 received in the office of the Assessing Officer vide acknowledgement/seal and signature dated 13.08.2019. The issue is squarely covered by the decision of the Hon’ble Supreme Court in the case of PCIT vs. Maruti Suzuki India Ltd. reported in 416 ITR 613 (SC). 4. The ld. DR could not rebut the aforesaid legal position and has simply relied upon the order of the Assessing Officer. 5. In view of the above, as per law laid down by the Hon’ble Supreme Court in the case of Maruti Suzuki India Ltd. (supra), the assessment framed by the Assessing Officer on a non-existent company is not sustainable and the same is hereby quashed. I.T.A. No.1036/Kol/2023 Assessment Year: 2012-13 Confirm Realbuild Pvt. Ltd 3 6. In the result, the appeal of the assessee stands allowed. Kolkata, the 29 th November, 2023. Sd/- Sd/- [ͬगरȣश अĒवाल/Girish Agrawal] [संजय गग[/Sanjay Garg] लेखा सदèय/Accountant Member ÛयाǓयक सदèय/Judicial Member Dated: 29.11.2023. RS Copy of the order forwarded to: 1. Confirm Realbuild Pvt. Ltd.(successor to Lookline Tradelinks Pvt. Ltd. (successor to Sanjukta Vanijya Pvt. Ltd) 2. ITO, Ward-6(1), Kolkata 3.CIT(A)- 4. CIT- , 5. CIT(DR), //True copy// By order Assistant Registrar, Kolkata Benches