M/S. JMB Commercial & Credits Ltd., V. I.T.O.,Ward - 6(2), Kolkata, Kolkata

ITA 139/KOL/2015

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 6627 (ITAT-KOLKATA)
• Duration Of Justice: 3 year(s) 4 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-06-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2002-2003
• Appeal Filed On: 29-01-2015
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: S DASGUPTA
• Section: 147; 68

Judgement Text

ITA NO.139/KOL/2015 M/S JMB COMMERCIAL & CREDITS LT D. A.Y.2002-03 1 IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH B KOL KATA [BEFORE HONBLE SHRI S.S.GODARA, JM & SHRI M.BALA GANESH, AM ] ITA NO.139/KOL/2015 ASSESSMENT YEAR : 2002-03 M/S JMB COMMERCIAL & CREDITS LTD. -VERSUS- I.T .O., WARD-6(2) KOLKATA KOLKATA (PAN: AAACJ 8031 B) (APPELLANT) (RESPONDENT) FOR THE APPELLANT: SHRI SUDHANSHU GUPTA, STAFF OF THE COMPANY FOR THE RESPONDENT: SHRI S.DASGUPTA, ADDL. CIT (DR ) DATE OF HEARING : 18.06..2018. DATE OF PRONOUNCEMENT : 27.06.2018. ORDER PER S.S.GODARA, JM: THIS ASSESSEES APPEAL FOR A.Y.2002-03 IS DIRECTED AGAINST THE CIT(A)-VI, KOLKATAS ORDER DATED 03.03.2011 IN APPEAL NO.997/C IT(A)/VI/KOL/WD..6(2)/2009-10 UPHOLDING THE ASSESSING OFFICERS ACTION MAKING SE CTION 68 ADDITION OF UNEXPLAINED SHARE APPLICATION MONEY AMOUNTING TO RS.1,05,00,000 /- IN ASSESSMENT ORDER DATED 31.12.2009 INVOLVING PROCEEDINGS U/S 147 R.W.S. 143 (3) OF THE INCOME TAX ACT, 1961 (ACT). 2. THE ASSESSEE HAS RAISED THREE SUBSTANTIVE GROU NDS INTER ALIA CHALLENGING THE LOWER APPELLATE AUTHORITYS ACTION ALLEGING DENIAL OF REASONABLE OPPORTUNITY OF HEARING, UPHOLDING VALIDITY OF SECTION 147 RE-ASSES SMENT PROCEEDINGS AND CALLS INTO QUESTION MERITS OF THE IMPUGNED SHARE APPLICATION MONEY, RESPECTIVELY. THE ABOVE SECOND SUBSTANTIVE ISSUE OF VALIDITY OF REASSESSMEN T APPEARS TO HAVE BEEN GIVEN UP EARLIER AS PER THE ASSESSEES AUTHORISED REPRESENTA TIVES ENDORSEMENT IN THE GROUNDS OF APPEAL IN THE INSTANT CASE. WE THEREFORE ADVERT TO THE FIRST ISSUE OF DENIAL OF REASONABLE OPPORTUNITY THEREIN. LEARNED DEPARTMENTA L REPRESENTATIVE IS VERY FAIR IN TAKING US TO PARA 4 OF CIT(A)S ORDER RECORDING T HAT RELEVANT NOTICE OF HEARING SENT TO ASSESSEES KANPUR ADDRESS COULD NOT BE SERVED. I T THEREFORE PRIMA FACIE EMERGES THAT ITA NO.139/KOL/2015 M/S JMB COMMERCIAL & CREDITS LT D. A.Y.2002-03 2 THERE HAS BEEN SOME COMMUNICATION GAP ATTRIBUTABLE TO THE NOTICE BEING RETURNED UNSERVED BY THE POSTAL AUTHORITIES. COUPLED WITH TH IS, LEARNED DEPARTMENTAL REPRESENTATIVE FAILS TO DISPUTE THE FACT THAT THE C IT(A)S ORDER UPHOLDING THE IMPUGNED ADDITION DOES NOT DISCUSS THE ISSUE IN THE LIGHT OF RELEVANT EVIDENCE AS PER SECTION 250(6) OF THE ACT. WE THEREFORE DEEM IT PRO PER TO RESTORE THE INSTANT APPEAL BACK TO THE CIT(A) TO BE ADJUDICATED AFRESH ON MERI TS WITHIN THREE EFFECTIVE OPPORTUNITIES OF HEARING AS PER LAW. THE ASSESEE IS DIRECTED TO APPEAR BEFORE THE CIT(A) ALONG WITH COPY OF THE INSTANT REMAND DIRECT IONS ON 08.10.2018 FOR FURTHER CONSEQUENTIAL PROCEEDINGS. 3. THIS ASSESSEES APPEAL IS ACCEPTED FOR STATISTIC AL PURPOSES. O RDER PRONOUNCED IN THE COURT ON 27.06.2018. SD/- SD/- [M.. BALAGANESH ] [ S.S.GODARA ] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 27.06.2018. [RG SR.PS] COPY OF THE ORDER FORWARDED TO: 1.M/S JMB COMMERCIAL & CREDITS LTD., C/O ANIL JAISW AL & CO, 24/4, THE MALL, KANPUR-208001, UTTAR PRADESH 2.I.T.O., WARD-6(2) KOLKATA. 3. C.I.T.(A)- VI, KOLKATA 4. C.I.T-II, KOLKAT A 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER, SENIOR PRIVATE SECRETARY HEAD OF OFFICE/D.D.O, ITAT KOLKATA BENCHES ITA NO.139/KOL/2015 M/S JMB COMMERCIAL & CREDITS LT D. A.Y.2002-03 3