Advantage Equi Fund Pvt. Ltd., , Kolkata V. DcIT, Circle - 3(1), Kolkata, Kolkata

ITA 1401/KOL/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 6152 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 1 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-07-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 12-06-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: A BHATTACHARYA CIT DR REVEN
• Assessee Lawyers: S AGARWAL
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA D BENCH, KOLKATA [BEFORE SRI S.S. GODARA, JUDICIAL MEMBER& SRI M. BALAGANESH, ACCOUNTANT MEMBER] I.T.A. NO. 1401/KOL/2017 ASSESSMENT YEAR: 2013-14 ADVANTAGE EQUI FUND PVT. LTD............................APPELLANT C/O. S.S. LOHIA & CO. 27, BRABOURNE ROAD 7 TH FLOOR, ROOM NO. 711 KOLKATA 700 001 [PAN: AADCA 2517 J] DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1), KOLKATA............RESPONDENT APPEARANCES BY: SHRI S.AGARWAL, ADVOCATE, APPEARED ON BEHALF OF THE ASSESSEE. SHRI A. BHATTACHARYA, ADDL. CIT, DR APPEARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : JUNE 12 TH ,2018 DATE OF PRONOUNCING THE ORDER : JULY 18 TH ,2018 ORDER PER S.S. GODARA, JM :- THIS ASSESSEES APPEAL FOR THE ASSESSMENT YEAR 2010-11 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS) 18, KOLKATAS ORDER DATED 07/02/2017 PASSED EX-PARTE IN CASE NO. ITA NO.439/CIT(A)-18/16-17/ITO,WD-10(1)KOL THEREBY CONFIRMING ASSESSING OFFICERS ACTION DISALLOWING/ADDING PRIOR PERIOD EXPENDITURE, PROFESSIONAL TAX U/S 43B, PENALTY, ESTIMATED DISALLOWANCE FROM EXPENDITURE AND DIFFERENCE IN VERIFICATE IN TRANSACTION INVOLVING SUM OF RS.2,42,12/-, RS.12,500/-, RS.83,188/-, RS.3,56,212/- & RS.2,42,02/-; RESPECTIVELY IN ASSESSMENT ORDER DT. 26/03/2013 INVOLVING PROCEEDINGS U/S 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT ACT). HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. IT IS NOTICED AT THE OUTSET THAT THE CIT(A) HAS PASSED HIS ORDER EX-PARTE WHILST CONFIRMING ALL THE ABOVE STATED DISALLOWANCE/ADDITIONS MADE IN COURSE OF ASSESSMENT. LEARNED DEPARTMENTAL REPRESENTATIVE VEHEMENTLY SUPPORTS THE SAME DURING THE COURSE OF HEARING BEFORE US. HE INVITES OUR ATTENTION TO PARAGRAPH 3 OF THE CIT(A)S ORDER INDICATING HIM TO HAVE ISSUED RELEVANT NOTICES OF HEARING ON 2 I.T.A. NO. 1401/KOL/2017 ASSESSMENT YEAR: 2013-14 ADVANTAGE EQUI FUND PVT. LTD 14.07.2016, 31.10.2016 AND 15.12.2016. WE SEE NOT EVEN A SINGLE REMARK IN THE SAID OPERATIVE PART SUGGESTING ACTUAL SERVICE OF THE SAID NOTICES OF HEARING. LEARNED DEPARTMENTAL REPRESENTATIVE FURTHER FAILS TO DISPUTE THE FACT THAT THE CIT(A) HAS SIMPLY CONFIRMED THE CORRESPONDING DISALLOWANCE/ADDITIONS WITHOUT EVEN ADVERTING TO THE MERITS OF THE ISSUE IN TUNE WITH THE RELEVANT MATERIAL AVAILABLE ON RECORD AS PER SECTION 250(6) OF THE ACT. WE THEREFORE RESTORE THE INSTANT LIS BACK TO THE CIT(A) FOR FRESH ADJUDICATION AS PER LAW AFTER AFFORDING THE ASSESSEE THREE EFFECTIVE OPPORTUNITIES OF HEARING. 3. THIS ASSESSEES APPEAL IS ACCEPTED FOR STATISTICAL PURPOSES. KOLKATA, THE 18 TH DAY OF JULY, 2018. SD/- SD/- [M. BALAGANESH] [ S.S. GODARA ] ACCOUNTANT MEMBER ACCOUNTANT MEMBER DATED : 18.07.2018 {SC SPS} COPY OF THE ORDER FORWARDED TO: 1. ADVANTAGE EQUI FUND PVT. LTD C/O. S.S. LOHIA & CO. 27, BRABOURNE ROAD 7 TH FLOOR, ROOM NO. 711 KOLKATA 700 001 2. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1), KOLKATA 3. CIT(A)- 4. CIT- , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER SENIOR PRIVATE SECRETARY HEAD OF OFFICE/ D.D.O. ITAT, KOLKATA BENCHES 3 I.T.A. NO. 1401/KOL/2017 ASSESSMENT YEAR: 2013-14 ADVANTAGE EQUI FUND PVT. LTD