Century Devcons Pvt. Ltd., Kolkata V. I.T.O. Ward-1(2), Kolkata, Kolkata

ITA 1415/KOL/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 4534 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 1 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-08-2018
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 12-06-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: S DASGUPTA
• Assessee Lawyers: MANISH TIWARI
• Keywords: Unexplained cash credit
• Section: 143(3); 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : KOLKATA [BEFORE HONBLE SHRI S.S. GODARA, JM & SHRI M.BAL AGANESH, AM ] I.T.A NO. 1415/KOL/20 17 ASSESSMENT YEAR : 2008-0 9 CENTURY DEVCONS PVT. LTD. -VS- ITO, WARD-1( 2), KOLKATA [PAN: AADCC 2419 D ] (APPELLANT) (RESPONDENT) FOR THE APPELLANT : SHRI MANISH TIWARI, FCA FOR THE RESPONDENT : SHRI S. DASGUPTA, ADDL. CIT DR DATE OF HEARING : 25.07.2018 DATE OF PRONOUNCEMENT : 03.08.2018 ORDER PER M.BALAGANESH, AM 1. THIS APPEAL BY THE ASSESSEE ARISES OUT OF THE ORDER OF THE LEARNED COMMISSIONER OF INCOME TAX(APPEALS)-9, KOLKATA [IN SHORT THE LD CIT (A)] IN APPEAL NO. 264/CIT(A)- 9/WD-1(2)/2015-16/KOL DATED 15.03.2017 AGAINST THE ORDER PASSED BY THE ITO, WARD- 1(2), KOLKATA [ IN SHORT THE LD AO] UNDER SECTION 143(3)/263 OF THE INCOME TAX ACT, 1961 (IN SHORT THE ACT) DATED 26.03.2014 FOR TH E ASSESSMENT YEAR 2008-09. 2. THE ONLY EFFECTIVE ISSUE TO BE DECIDED IN THIS A PPEAL, AMONG OTHERS ON MERITS, IS AS TO WHETHER THE LD. CIT(A) WAS JUSTIFIED IN PASSING AN EX PARTE ORDER, IN THE FACTS AND CIRCUMSTANCES OF THE CASE. 2 ITA NO.1415/KOL/2017 CENTURY DEVCONS PVT. LTD. A.YR. 2008-09 2 3. THE BRIEF FACTS OF THIS APPEAL IS THAT THE ASSES SMENT WAS FRAMED U/S 143(3) OF THE ACT ON 26.03.2014 PURSUANT TO DIRECTIONS OF THE CIT U/S 263 OF THE ACT DETERMINING THE TOTAL INCOME OF THE ASSESSEE AT RS. 5,61,67,800/-, WHEREI N AN ADDITION TOWARDS SHARE CAPITAL AND SHARE PREMIUM AMOUNTING TO RS. 5,61,50,000/- WA S ADDED AS UNEXPLAINED CASH CREDIT. THE ASSESSEE PREFERRED AN APPEAL BEFORE THE LD. CIT(A). THE WRITTEN SUBMISSIONS WERE FILED BEFORE THE LD. CIT(A) ON 10.08.2016 AND THE CASE WAS ADJOURNED TO 30.08.2016. THE WRITTEN SUBMISSION FILED BY THE ASS ESSEE WERE SOUGHT TO BE VERIFIED BY THE LD. CIT(A) BY CALLING FOR A REMAND REPORT FROM THE LD. AO. THE LD. AO DID NOT REPLY TO THE SAID LETTER OF THE LD. CIT(A). THEREAFTER, T HE LD. CIT(A) ISSUED FRESH NOTICE DATED 14.03.2017 TO THE ASSESSEE WHICH WERE NOT COMPLIED WITH BY THE ASSESSEE. ACCORDINGLY, THE LD. CIT(A) PROCEEDED TO DISMISS THE APPEAL EX P ARTE. AGGRIEVED THE ASSESSEE IS IN APPEAL BEFORE US. 4. WE HAVE HEARD RIVAL SUBMISSIONS. IT IS NOT IN DI SPUTE THAT THE LD. CIT(A) HAD PASSED AN ORDER EX PARTE WITHOUT HEARING THE ASSESSEE AND WITHOUT CONSIDERING THE WRITTEN SUBMISSIONS AVAILABLE ON RECORD. IN VIEW OF THESE F ACTS AND CIRCUMSTANCES, IN THE INTEREST OF JUSTICE AND FAIR PLAY, WE DEEM IT FIT AND APPROP RIATE TO REMAND THIS APPEAL TO THE FILE OF LD. CIT(A) TO PASS AN ORDER AFRESH IN ACCORDANCE WITH LAW. ACCORDINGLY, GROUNDS RAISED BY THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE COURT ON 03.08.2018 SD/- SD/- [S.S. GODARA] [ M .BALAGANESH ] JUDICIAL MEMBER ACCOUNTANT MEM BER DATED : 03.08.2018 SB, SR. PS 3 ITA NO.1415/KOL/2017 CENTURY DEVCONS PVT. LTD. A.YR. 2008-09 3 COPY OF THE ORDER FORWARDED TO: 1. CENTURY DEVCONS PVT. LTD., 17, ARMENIAN STREET, 1 ST FLOOR, KOLKATA-700001. 2. ITO, WARD-1(2), KOLKATA, AAYAKAR BHAWAN, P-7, CH OWRINGHEE SQUARE, KOLKATA- 700069. 3..C.I.T.(A)- 4. C.I.T .- KOLKATA. 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER SENIOR PRIVAT E SECRETARY HEAD OF OFFICE/D.D.O., ITAT, KOLKATA BENCHE S