Manish Mall, Kolkata V. ACIT, Cir. -61 , Kolkata

ITA 134/KOL/2021

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 3318 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 3 month(s) 13 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-07-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 12-04-2021
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Condonation of delay
• Section: 68; 250

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL “B(SMC)” BENCH KOLKATA Before Shri Sanjay Garg, Judicial Member and Shri Rajesh Kumar, Accountant Member I.T.A. No.134/Kol/2021 Assessment Year: 2014-15 Manish Mall.........................................................................................Appellant 12A, Shakespeare Sarani, Ground Floor, Kolkata-700071. [PAN:AFUPM7437C] vs. ACIT, Circle-61, Kolkata...............................................................Respondent Appearances by: Shri Subash Agarwal, Advocate, appeared on behalf of the appellant. Shri Manas Mondal, Addl. CIT-DR, appeared on behalf of the Respondent. Date of concluding the hearing : July 26, 2022 Date of pronouncing the order : July 26, 2022 ORDER Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the assessee against the order dated 01.10.2018 of the Commissioner of Income Tax (Appeals)-19, Kolkata [hereinafter referred to as ‘CIT(A)’] passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’). 2. The appeal is time-barred by 865 days. No cogent and convincing reason has been given for condonation of delay, therefore, the application for condonation of delay is rejected. Even, on merits the issue is squarely covered against the assessee by the recent decision of the Calcutta High Court vide common order dated 14.06.2022 in a batch of 90 appeals with a lead case titled as PCIT vs. Swati Bajaj in IA No.GA/2/2022 and Others. The ld. Counsel has submitted that the facts and issue involved in the above appeal of the assessee is identical to that were before the Hon’ble Calcutta High Court. The Hon’ble Calcutta High Court vide its decision dated 14.06.2022 (supra) has affirmed the additions made by the Assessing Officer u/s 68 of the Income Tax Act in respect of bogus long-term capital gains. In view of this, the appeal of the assessee is hereby dismissed. I.T.A. No.134/Kol/2021 Assessment Year: 2014-15 Manish Mall 2 4. In the result, the appeal of the assessee stands dismissed. Kolkata, the 26 th July, 2022. Sd/- Sd/- [Rajesh Kumar] [Sanjay Garg] Accountant Member Judicial Member Dated: 26.07.2022. RS Copy of the order forwarded to: 1. Manish Mall 2. ACIT, Circle-61, Kolkata 3. CIT (A)- 4. CIT- , 5. CIT(DR), //True copy// By order Assistant Registrar, Kolkata Benches