ITO, Ward-4(3), Kolkata, Kolkata V. M/s. Asthmangal Properties Ltd., Kolkata

ITA 1249/KOL/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 4328 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 11 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-05-2019
• Appeal Filed By: Department
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 29-05-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Set aside
• Section: 143(3); 131; 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D, BENC H KOLKATA BEFORE SHRI S.S.GODARA, JM &DR. A.L.SAINI, AM ./ ITA NO.1249/KOL/2017 ( / ASSESSMENT YEAR: 2012-13) ITO, WARD-4(3), KOLKATA VS. M/S ASTHMANGAL PROPERTIES LTD. 32, EZRA STREET, 9 TH FLOOR, KOLKATA- 700001 ./ ./ PAN/GIR NO.: AAJCA 9812 G (ASSESSEE) .. (REVENUE) ASSESSEE BY : SHRI A.K. SINGH, CIT DR RESPONDENT BY : NONE / DATE OF HEARING : 30/04/2019 / DATE OF PRONOUNCEMENT : 10/05/2019 / O R D E R PER DR. A. L. SAINI: THE CAPTIONED APPEAL FILED BY THE REVENUE, PERT AINING TO ASSESSMENT YEAR 2012-13 IS DIRECTED AGAINST THE ORDER PASSED BY THE COMMISSIONER OF INCOME TAX (APPEAL)-23, KOLKATA, WHICH IN TURN ARISES OUT OF A N ASSESSMENT ORDER PASSED BY THE ASSESSING OFFICER U/S 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) DATED 28.03.2015. 2. THE GROUNDS OF APPEAL RAISED BY THE REVENUE ARE AS FOLLOWS: 2. THAT THE LD. CIT(A) HAS ERRED IN LAW IN NOT CONS IDERING THE FACTS OF THE CASE WHILE DELETING THE ADDITION OF RS. 8,05,00,000/-, M ADE BY THE ASSESSING OFFICER U/S 68 OF THE ACT. 3. THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF TH E CASE, LD. CIT(A) HAS ERRED IN VIOLATING RULE U/S 46A(3) WITHOUT REMITTING THE ISS UE BEFORE THE A.O. FOR THE PURPOSE OF EXAMINATION OF CREDITWORTHINESS OF THE S HARE APPLICANTS. M/S ASTHMANGAL PROPERTIES LTD. ITA NO.1249/KOL/2017 ASSESSMENT YEAR:2012-13 P PP PA AA AG GG GE EE E | || | 2 22 2 3. THE SHARE SUBSCRIBERS (ALLOTTEES) WERE SUMMONED U/S 131 OF THE ACT BY A.O. , BUT NOTICES SENT TO THEM RETURNED BACK. THEREFORE A SSESSING OFFICER COULD NOT VERIFY THE IDENTITY, GENUINENESS AND CREDITWORTHINE SS OF SHARE SUBSCRIBING COMPANIES. (VIDE PAGE 2 OF ASSESSING OFFICERS ORDE R). HENCE WE ARE OF THE VIEW THAT LD. ASSESSING OFFICER DID NOT REACH ON LOGICAL CONCLUSION TO VERIFY THE IDENTITY, CREDITWORTHINESS AND GENUINENESS OF THE SHARE SUBSC RIBING COMPANIES. THEREFORE WE ARE OF THE VIEW THAT THIS MATTER SHOULD BE REMIT TED BACK TO THE FILE OF THE ASSESSING OFFICER AND HENCE WE SET ASIDE THE ORDER OF LD. CIT(A) AND REMIT THE MATTER BACK TO THE FILE OF ASSESSING OFFICER FOR DE NOVO ADJUDICATION. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS TRE ATED TO BE ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE COURT ON 10. 05.2019 SD/- ( S.S.GODARA ) SD/- (A.L.SAINI) / JUDICIAL MEMBER / ACCOUNTANT MEMBER / DATE: 10/05/2019 ( SB, SR.PS ) COPY OF THE ORDER FORWARDED TO: 1. ITO, WARD-4(3), KOLKATA 2. M/S ASTHMANGAL PROPERTIES LTD. 3. C.I.T(A)- 4. C.I.T.- KOLKATA. 5. CIT(DR), KOLKATA BENCHES, KOLKATA. 6. GUARD FILE. TRUE COPY BY ORDER ASSIST ANT REGISTRAR ITAT, KOLKA TA BENCHES