Sirrus Engineering Pvt. Ltd., Kolkata V. D.C.I.T.,Circle-3(1), Kolkata

ITA 1087/KOL/2019

AI Insights

Sirrus Engineering Pvt. Limited appealed against the order of the Commissioner of Income Tax (Appeals)-7, Kolkata, which confirmed several disallowances made by the Assessing Officer for the Assessment Year 2013-2014. The disallowances included Rs. 700,000 for unexplained expenditure related to commodity trading profits, an estimated marginal deposit of Rs. 500,000 with a broker for commodity trading, and an addition of Rs. 10,677,330 based on unexplained differences in bank account transactions. The Tribunal dismissed the appeal due to the non-appearance and non-submission of the assessee at various stages of the legal proceedings.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 128992 (ITAT-KOLKATA)
• Duration Of Justice: 3 year(s) 8 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-01-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 10-01-2023
• Assessment Year: 2013-2014
• Appeal Filed On: 08-05-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Section: 143(2)

Judgement Text

ITA No. 1087/KOL/2019 Assessment Year: 2013-2014 Sirrus Engineering Pvt. Limited 1 IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C’ BENCH, KOLKATA Before Shri Rajpal Yadav, Vice-President (KZ) & Shri Girish Agrawal, Accountant Member I.T.A. No. 1087/KOL/2019 Assessment Year: 2013-2014 Sirrus Engineering Pvt. Limited,................Appellant 52/1, 1 st Floor, Balaji Apartment, Hazra Road, Kolkata-700007 [PAN: AALCS4050N] -Vs.- Deputy Commissioner of Income Tax,........Respondent Circle-3(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 Appearances by: Shri N o n e, appeared on behalf of the assessee Shri G. Hukugha Sema, CIT, appeared on behalf of the Revenue Date of concluding the hearing : January 11, 2023 Date of pronouncing the order : January 19, 2023 O R D E R Per Rajpal Yadav, Vice-President (KZ):- The assessee is in appeal before the Tribunal against the order of ld. Commissioner of Income Tax (Appeals)-7, Kolkata dated 28.03.2018 passed for A.Y. 2013-14. 2. The grounds of appeal taken by the assessee read as under:- ITA No. 1087/KOL/2019 Assessment Year: 2013-2014 Sirrus Engineering Pvt. Limited 2 “1 .The learned . Commissioner of Income Tax ( Appeal) -7 has eared in law as well as in facts while confirming the following Disallowance (a) Rs 700000/- for earning profit from commodity trading, treating the same as unexplained expenditure and adding such estimated expenditure to the income. (b) In estimating an imaginary figure of marginal deposit of Rs 500000/- with the broker for commodity trading and then treating the same as from undisclosed sources and consequently adding the same to the total income. (c) For That the addition of Rs.10677330/-on estimation basis by treating the difference between total accounts credited and total amount debited in current account with Bank of Baroda ( Rs.232554144-182135991)= 50418153 as unexplained is wrong way of calculation of the learned assessing officer”. 3. The assessee has filed its return of income on 30.09.2013 declaring total income of Rs.11,77,400/-. A notice was issued under section 143(2) and thereafter under section 142(1). The ld. Assessing Officer has passed the impugned order under section 143(3) on 19.03.2016 and the finding in the assessment order reads as under:- ITA No. 1087/KOL/2019 Assessment Year: 2013-2014 Sirrus Engineering Pvt. Limited 3 ITA No. 1087/KOL/2019 Assessment Year: 2013-2014 Sirrus Engineering Pvt. Limited 4 4. Dissatisfied with the assessment order, the assessee carried the matter in appeal before the ld. 1 st Appellate Authority, but the ld. 1 st Appellate Authority has dismissed the appeal for want of prosecution. 5. In response to the notice of hearing, no one has come present on behalf of the assessee. Earlier Shri Abhisek Tibrewal, FCA, filed Power of Attorney, but it does not contain any e-mail or Mobile No. of the ld. Counsel. Similarly no one has responded to the Mobile No. available in Form No. 36 appended on the appeal. 6. With the assistance of ld. D.R., we have gone through the record carefully. The assessee did not submit anything before the ld. Assessing Officer. It did not appear before the ld. CIT(Appeals) inspite of number of opportunities given to the assessee. It did not submit anything before the Tribunal. We have issued four notices through Registered Post and also tried to contact the assessee on the Mobile No. 8777254185, but there is no response at the end of the assessee. Therefore, after going through the order of the ld. Assessing Officer, we do not find any reason to interfere in the finding of the ld. Assessing Officer. Accordingly, the appeal of the assessee is dismissed. 7. In the result, the appeal of the assessee is dismissed. Order pronounced in the open Court on 19 th January, 2023. Sd/- Sd/- (Girish Agrawal) (Rajpal Yadav) Accountant Member Vice-President (KZ) Kolkata, the 19 th day of January, 2023 ITA No. 1087/KOL/2019 Assessment Year: 2013-2014 Sirrus Engineering Pvt. Limited 5 Copies to : (1) Sirrus Engineering Pvt. Limited, 52/1, 1 st Floor, Balaji Apartment, Hazra Road, Kolkata-700007 (2) Deputy Commissioner of Income Tax, Circle-3(1), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700069 (3) Commissioner of Income Tax (Appeals)-7, Kolkata; (4) Commissioner of Income Tax- ; (5) The Departmental Representative (6) Guard File TRUE COPY By order Assistant Registrar, Income Tax Appellate Tribunal, Kolkata Benches, Kolkata Laha/Sr. P.S.