M/s. Tribeni Industries Pvt. Ltd., Howrah V. ITO, Ward - 3(2), Kolkata , Kolkata

ITA 1516/KOL/2018

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 6750 (ITAT-KOLKATA)
• Duration Of Justice: 7 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-02-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 13-07-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: C J SINGH JCITSRDR
• Assessee Lawyers: M D SHAH
• Keywords: Unexplained cash credit
• Section: 143(3); 201; 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.1516/KOL/2018 ASSESSMENT YEAR:2014-15 M/S TRIBENI INDUSTRIES PVT. LTD. 89/1 SALKIA SCHOOL ROAD, BANDHAGHAT, HOWRAH-711106 [ PAN NO.AABCT 2604 H ] / V/S . INCOME TAX OFFICER, WARD-3(2), P-7, CHOWRINGHEE SQUARE, 7 TH FLOOR, KOLKATKA- 69 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI M.D. SHAH, ADVOCATE /BY RESPONDENT SHRI C.J. SINGH, JCIT-SR-DR /DATE OF HEARING 25-02-2019 /DATE OF PRONOUNCEMENT 28-02-2019 /O R D E R THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2014-15 , ARISES AGAINST THE COMMISSIONER OF INCOME-TAX (APPEALS)-1, KOLKATAS O RDER DATED 22.06.2018 PASSED IN CASE NO.59754764120017/CIT(A)-1/KOL./DCIT.CIR.3(1)/ 1016-17, INVOLVING PROCEEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961 ; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE ASSESSEES SOLE SUBSTANTIVE GROUND RAISED IN THE INSTANT APPEAL CHALLENGES BOTH THE LOWER AUTHORITIES RESPECTIVE ACTION FINAL IZE EX PARTE TREATING THE SHARE APPLICATION MONEY IN ISSUE AMOUNTING TO 16,87,859/- AS UNEXPLAINED CASH CREDITS U/S 68 OF THE ACT. IT TRANSPIRES DURING THE COURSE OF H EARING THAT ASSESSING OFFICER HAD ISSUED NOTICE TO THE ASSESSEE ON 20.12.2016 FOR PRO DUCING THE NECESSARY EVIDENCE. HE COMPLETED THE IMPUGNED ASSESSMENT ON 23.12.2016 THE REBY GIVING A VERY VERY SHORT TIME FOR NECESSARY COMPLIANCE. SAME APPEARS TO BE T HE CASE IN LOWER APPELLATE ITA NO.1516/KOL/2018 A.Y. 201 4-15 M/S TRIBENI INDUSTRIES PVT. LTD. VS. ITO WD-3(2 ), KOL. PAGE 2 PROCEEDINGS WHEREIN THE ASSESSEE PUT IN APPEARANCE ON 05.06.2018 ONLY. THE CIT(A) ADJOURNED THE MATTER FOR 14.06.2018 AND 22.06.2018 AND UPHELD THE IMPUGNED ADDITION UNDER CHALLENGE. 3. LEARNED DEPARTMENTAL REPRESENTATIVE FAILS TO IND ICATE IN THE CIT(A)S ORDER THAT ASSESSEE HAVE ACTUALLY SERVED THE RELEVANT NOT ICE OF HEARING ON 22.06.2018. COUPLED WITH THIS, CIT(A) HAS NOT ADJUDICATED THE S OLE ISSUE HEREIN ON MERITS AFTER A DETAILED DISCUSSION AS CONTEMPLATED U/S 250(6) OF T HE ACT. I THEREFORE DEEM IT APPROPRIATE IN THESE FACTS AND CIRCUMSTANCES TO RES TORE THE INSTANT LIS BACK TO THE ASSESSING OFFICER FOR AFRESH ADJUDICATION AS PER LA W AFTER AFFORDING THREE EFFECTIVE OPPORTUNITY OF HEARING TO THE TAXPAYER. 4. THIS ASSESSEES APPEAL IS ACCEPTED FOR STATISTIC AL PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN OPEN COURT ON 28/02/2019 SD/- (S.S. GODARA) JUDICIAL MEMBE R KOLKATA, *DKP/SR.PS - 28/02/2019 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-M/S TRIBENI INDUSTRIES PVT. LTD. 89/1, S ALKIA SCHOOL ROAD, BANDHAGHAT, HO WRAH-711106 2. /RESPONDENT-ITO WARD-3(2), P-7, CHOWRINGHEE SQ, 7 TH FL, KOLKATA-69 3. ' % / CONCERNED CIT 4. % - / CIT (A) 5. & ))' , ' / DR, ITAT, KOLKATA 6. + / GUARD FILE. BY ORDER/ , /TRUE COPY/ / ',