Positive Tradecomm Pvt. Ltd., , Howrah V. ITO, Ward - 9(3), Kolkata , Kolkata

ITA 1304/KOL/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 9853 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-06-2020
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 13-06-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: JAYANTA KHANRA SR DR
• Keywords: Unexplained cash credit
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL D (VIRTUAL COURT HEARING), BENCH KOLKATA BEFORE SHRI J. SUDHAKAR REDDY, AM & SHRI S. S. GODARA, JM ./I.T.A NO.1304/KOL/2018 ( [ [ / ASSESSMENT YEAR: 2012-13) POSITIVE TRADECOMM PVT. LTD. C/O SUBASH AGARWAL & ASSOCIATES, ADVOCATES, SIDDHA GIBSON, 1, GIBSON LANE, SUITE 213, 2 ND FLOOR, KOLKATA 700069. VS. ITO, WARD-9(3), KOLKATA ./ ./PAN/GIR NO.: AAGCP1158H (APPELLANT) .. (RESPONDENT) APPELLANT BY : SHRI SUBASH AGARWAL, ADVOCATE RESPONDENT BY : SHRI JAYANTA KHANRA, SR. DR, JCIT / DATE OF HEARING : 17/06/2020 /DATE OF PRONOUNCEMENT : 19/06/2020 / O R D E R PER SHRI S. S. GODARA: THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2012-13 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (A) - 18, KOLKATA DATED 25.01.2018 PASSED IN CASE NO.1777/2015-16/CIT(A)-18/WD-9(3)/F.SLNO.2258/17-18/KOL INVOLVING PROCEEDINGS U/S 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. IT TRANSPIRES AT THE OUTSET THAT THE CIT(A)S LOWER APPELLATE ORDER AFFIRMING THE ASSESSING OFFICERS ACTION TREATING THE ASSESSEES SHARE CAPITAL/PREMIUM OF RS.46,08,56,473/- AS SECTION 68 UNEXPLAINED CASH CREDITS IN ASSESSMENT ORDER DATED 23.03.2015; HAS BEEN PASSED EX PARTE WITHOUT EVEN INDICATING AS TO WHETHER THE RELEVANT NOTICE(S) OF HEARING STOOD SERVED OR NOT. COUPLED WITH THIS, THE ASSESSEES CLINCHING PLEA THAT IT HAD FILED VOLUMINOUS DOCUMENTARY EVIDENCE BEFORE THE ASSESSING OFFICER FOR PROVING IDENTITY, GENUINENESS AND I.T.A NO.1304/KOL/2018 POSITIVE TRADECOMM PVT. LTD. PAGE | 2 CREDITWORTHINESS OF THE INVESTOR PARTIES WHICH HAVE NOWHERE BEEN CONSIDERED HAS ALSO BEEN REMAINED UNREBUTTED FROM THE REVENUE SIDE. BE THAT AS IT MAY, LEARNED COUNSEL SUBMITS THAT THE ASSESSEE COULD NOT APPEAR BEFORE THE CIT(A) ON ACCOUNT OF THE FACT THAT ITS CONCERNED DIRECTOR WAS NOT AVAILABLE AT STATION IN THE RELEVANT TIME SPAN OF THE LOWER APPELLATE HEARINGS SO AS TO PURSUE ITS GRIEVANCE. WE DEEM IT APPROPRIATE IN THIS FACTUAL BACKDROP THAT LARGER INTEREST OF JUSTICE WOULD BE MET IN CASE THE LEARNED CIT(A) DECIDES THE MATTER AFRESH AS PER LAW. MORE PARTICULARLY WHEN THERE IS NO ADJUDICATION ON MERITS IN THE CIT(A)S EX PARTE ORDER UNDER CHALLENGE. WE ORDER ACCORDINGLY. 3. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSES. ORDER IS PRONOUNCED IN THE OPEN COURT ON 19.06.2020. SD/- ( J. SUDHAKAR REDDY ) SD/- (S. S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER /KOLKATA; / DATE: 19/06/2020 RS / COPY OF THE ORDER FORWARDED TO : TRUE COPY BY ORDER ASSISTANT REGISTRAR, I.T.A.T, KOLKATA BENCHES, KOLKATA . 1. THE APPELLANT- POSITIVE TRADECOMM PVT. LTD. 2. THE RESPONDENT- ITO, WARD-9(3), KOLKATA 3. ( ) / THE CIT(A), KOLKATA [SENT THROUGH EMAIL] 4. / CIT 5. , , / DR, ITAT, KOLKATA [SENT THROUGH EMAIL] 6. [ / GUARD FILE.