Hanuman Vincom Pvt. Ltd., Kolkata V. I.T.O.,Ward-8(4), Kolkata

ITA 1218/KOL/2019

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 8110 (ITAT-KOLKATA)
• Duration Of Justice: 1 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-07-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 20-05-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: AGAINST DATED PASSED
• Section: 131; 68

Judgement Text

PAGE | 1 IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH B, KOLKATA BEFORE SH. P.M.JAGTAP, VICE PRESIDENT & SH.S.S.VISWANETHRA RAVI, JUDICIAL MEMBER ITA NO.1218/KOL/2019 (ASSESSMENT YEAR-2009-10) ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER THIS APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER DATED 27.03.2019 PASSED BY THE CIT(A)-15, KOLKATA FOR AY 2009-10 WHEREIN HE CONFIRMED THE ORDER OF AO EX-PARTE OF ASSESSEE. 2. THE AFORESAID CASE IS LISTED BEFORE US UNDER THE CAPTION OF EARLY HEARING. THE LD. AR SUBMITS THAT THE ISSUE RAISED IS RELATING TO SHARE CAPITAL AND PREMIUM. HE REFERRED TO ASSESSMENT ORDER PAGE NO. 2 AND SUBMITTED THAT SUMMONS U/S 131 OF THE INCOME TAX ACT, 1961 (REFERRED TO AS THE ACT) WERE ISSUED TO THE SHARE SUBSCRIBER PARTIES /COMPANIES AND FOR NON-COMPLIANCE THE AO ADDED AN AMOUNT OF RS. 14,06,50,000/- TO THE TOTAL INCOME OF THE ASSESSEE. IN VIEW OF CHANGE OF ADDRESS, THE ASSESSEE COULD NOT MAKE COMPLIANCES EVEN BEFORE CIT(A). SINCE THE ISSUE IS ADDITION U/S 68 OF THE ACT REQUIRES VERIFICATION BY THE AO AND PRAYED TO REMAND THE MATTER TO THE FILE OF M/S HANUMAN VINCOM PVT.LTD. 63, RAFI AHMED KIDWAI ROAD, 2 ND FLOOR, BASEMENT, KOLKATA-700071. PAN-AACCH1444A VS I.T.O. WARD-8(4), KOLKATA. (APPELLANT) (RESPONDENT) APPELLANT BY SH. MIRAJ D. SHAH, AR RESPONDENT BY SH.C.J.SINGH, JCIT, SR.DR DATE OF HEARING 21.06.2019 DATE OF PRONOUNCEMENT 1 7 .07.2019 ITA NO.1218/KOL/2019 (ASSESSMENT YEAR-2009-10) PAGE | 2 THE AO FOR A FRESH VERIFICATION. THE LD. DR DID NOT REPORT OBJECTION IN REMANDING THE MATTER TO THE FILE OF AO. THEREFORE, TAKING INTO CONSIDERATION THE SUBMISSIONS OF LD. AR AND DR AND IN THE FACTS AND THE CIRCUMSTANCES OF THE CASE WE DEEM IT PROPER TO REMAND THE MATTER TO THE FILE OF AO FOR A FRESH VERIFICATION AND THE ASSESSEE SHALL PRODUCE ALL THE RELEVANT EVIDENCES IF ANY IN SUPPORT OF ITS CLAIMES. THUS THE MAIN APPEAL IS ITSELF DISPOSED OFF IN VIEW OF THE FACTUAL CIRCUMSTANCES DISCUSSED HEREINABOVE. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED. ORDER PRONOUNCED IN THE OPEN COURT ON 17.07.2019. SD/- SD/- (P.M.JAGTAP) (S.S.VISWANETHRA RAVI) VICE PRESIDENT JUDICIAL MEMBER DATE:- 17.07.2019 BIDHAN COPY FORWARDED TO: 1. APPELLANT- M/S HANUMAN VINCOM PVT.LTD., 63, RAFI AHMED KIDWAI ROAD, 2ND FLOOR, BASEMENT, KOLKATA-700071. 2. RESPONDENT- I.T.O., WARD-8(4), KOLKATA. 3. CIT(APPEALS)- 4. CIT-KOLKATA 5. DR: ITAT -KOLKATA BENCHES BY ORDER AR/H.O.O ITAT, KOLKATA