M/s. Mukut Buildcon Pvt. Ltd., , Kolkata V. ITO, Ward - 7(3), Kolkata , Kolkata

ITA 123/KOL/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 7546 (ITAT-KOLKATA)
• Duration Of Justice: 11 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-01-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Assessment Year: 2009-2010
• Appeal Filed On: 29-01-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SAURAV KUMAR
• Assessee Lawyers: A K TIBREWAL
• Section: 68

Judgement Text

M/S MUKUT BUILDCON PVT. LTD. I.T.A NO.123/KOL/2018 ASSESSMENT YEAR: 2009-10 PAGE | 1 IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: KOLKATA BEFORE: SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER I.T.A NO.123/KOL/2018 (ASSESSMENT YEAR: 2009-10) M/S MUKUT BUILDCON PVT. LTD. APPELLANT [PAN:AAFCM 9261 R] VS INCOME TAX OFFICER, WARD-7(3), KOLKATA RESPONDENT FOR THE APPELLANT : SHRI A. K. TIBREWAL, A.R FOR THE RESPONDENT : SHRI SAURAV KUMAR, ADDL. CIT, SR. DR DATE OF HEARING : 10.01.2019 DATE OF PRONOUNCEMENT : 16.01.2019 ORDER PER SHRI S.S. VISWANETHRA RAVI, JM: THIS APPEAL BY THE ASSESSEE AGAINST THE ORDER DATED 19.12.2016 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS)-3, KOLKATA FOR ASSESSMENT YEAR 2009-10 WHEREIN HE CONFIRMED THE ASSESSMENT ORDER EX PARTE OF ASSESSEE. 2. AT THE TIME OF HEARING, WE FIND, THE ASSESSEE FILED APPLICATION SEEKING ADJOURNMENT STATING THAT THE APPEAL IN QUESTION REQUIRES PAPER BOOK AND THAT IS IN PROCESS. IT IS NOTED FROM THE RECORDS THAT THE CIT(A) DISMISSED GROUNDS OF APPEAL RAISED BY THE ASSESSEE BEFORE HIM EX PARTE. IT IS ALSO NOTED THAT THE ISSUE IS RELATING TO CONFIRMATION OF ADDITION U/S 68 OF THE ACT RELATING TO THE RAISING OF SHARE CAPITAL AND SHARE PREMIUM. SINCE AS WE DISCUSSED ABOVE THERE WAS NO FINDING BY THE CIT(A) IN THIS ASPECT, THEREFORE, TAKING INTO CONSIDERATION THE SUBMISSIONS OF LD. AR AND DR AND IN THE FACTS AND CIRCUMSTANCES OF THE CASE, THE APPLICATION SEEKING ADJOURNMENT IS M/S MUKUT BUILDCON PVT. LTD. I.T.A NO.123/KOL/2018 ASSESSMENT YEAR: 2009-10 PAGE | 2 REJECTED AND THE MATTER IS REMANDED TO THE FILE OF CIT(A) FOR HIS FRESH CONSIDERATION. THE ASSESSEE IS AT LIBERTY TO FILE EVIDENCES, IF ANY, IN SUPPORT OF ITS CLAIM. THUS, GROUNDS RAISED BY THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 16.01.2019. SD/- SD/- [J. SUDHAKAR REDDY] [S.S. VISWANETHRA RAVI] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED :16.01.2019 PLACE : KOLKATA RS, SR.PS COPY OF THE ORDER FORWARDED TO: 1 . APPELLANT M/S. MUKUT BUILDCON PVT. LTD., 84, BENTICK STREET, KOL-1. 2 RESPONDENT ITO, WARD-7(3), KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA 700 069. 3 . THE CIT(A), KOLKATA 4. 5. CIT , KOLKATA DR, KOLKATA BENCHES, KOLKATA //TRUE COPY// BY ORDER, ASSISTANT REGISTRAR, ITAT, KOLKATA