M/s. Suhana Bridge & Roof Consultants (P) Ltd., , Kolkata V. ITO, Ward - 5(1), Kolkata , Kolkata

ITA 1555/KOL/2018

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 4498 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 7 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-02-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 18-02-2020
• Assessment Year: 2012-2013
• Appeal Filed On: 19-07-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAM BILASH MEENA
• Keywords: Unexplained cash credit; Earning of tax free income
• Section: 143(3); 14A

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH A KOLKATA BEFORE SHRI J.SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SHRI S.S.GODARA, JUDICIAL MEMBER ITA NO.1555/KOL/2018 ASSESSMENT YEAR: 2012-13 M/S SUHANA BRIDGE & ROOF CONSULTANTS (P) LTD. 12, N.S. ROAD, ROOM NO. 7 KOLKATA-700 001 [ PAN NO.AAOCS 8782 Q ] / V/S . INCOME TAX OFFICER, WARD-5(1), AAYAKAR BHAWAN, CHAMBAER NO. 901, 9 TH FLOOR, 110, SHANTI PALLY, KOLKATA- 700 107 /APPELLANT .. /RESPONDENT /BY APPELLANT NONE /BY RESPONDENT SHRI RAM BILASH MEENA, CIT-DR /DATE OF HEARING 18-02-2020 /DATE OF PRONOUNCEMENT 26-02-2020 /O R D E R PER S.S.GODARA, JUDICIAL MEMBER:- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2012-13 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-10 KOLKATAS O RDER DATED 28.02.2018 PASSED IN CASE NO.712/CIT(A)-10/W-5(1)/12-13/2017-18/KOL. INVOLVING PROCEEDINGS U/S 143(3) R.W.S. 144 OF THE INCOME TAX ACT, 1961; IN S HORT THE ACT. CASE CALLED TWICE. NONE APPEARS AT THE ASSESSEES B EHEST. IT IS ACCORDINGLY PROCEEDED EX PARTE. THE CASE IS NOW TAKEN UP FOR AD JUDICATION ON MERITS. ITA NO.1555/KOL/2018 ASSESSMENT YEAR 2012-13 M/S SUHANA BRIDGE & ROOF CONSULTANTS ( P) LTD. VS ITO-WD-5(1) KOL. PAGE 2 2. THE ASSESSEES TWIN SUBSTANTIVE GRIEVANCES RAISE D IN THE INSTANT APPEAL SEEK TO REVERSE BOTH THE LOWER AUTHORITIES ACTION TREATING ITS SHARE CAPITAL / PREMIUM AMOUNTING TO 70,98,00,000/- AS UNEXPLAINED CASH CREDITS FOLLOWED BY SEC. 14A R.W.S RULE-8D DISALLOWANCE OF 5,568/- TO THE EXTENT OF ITS EXEMPT INCOME; RESPECT IVELY. IT TRANSPIRES DURING THE COURSE OF HEARING THAT THE CI T(A) HAS PASSED HIS LOWER APPELLATE ORDER EX PARTE WHILST AFFIRMING THE ASSESSING OFFIC ERS FOREGOING ACTION ON BOTH COUNTS. LEARNED CIT-DR INVITES OUR ATTENTION TO THE CIT(A)S ORDER AND MORE SO IN PAGE-2 THAT HE APPEARS TO HAVE MADE NUMEROUS ATTEMP T TO SERVE THE ASSESSEE BEFORE PROCEEDING TO AFFIRM THE IMPUGNED ADDITION. WE NOTI CE IN THIS BACKDROP THAT THE INSTANT LIS INVOLVES CHANGE OF LOWER APPELLATE AUTH ORITY FROM THE CIT(A)-2 KOLKATA TO CIT(A)-10, KOLKATA. THE ASSESSEES NON-APPEARANCE B EFORE THE LATTER LOWER APPELLATE AUTHORITY PRIMA FACIE SEEMS TO BE FOR THIS REASON ALONE AS POSSIBILITY O F COMMUNICATION GAP IN SUCH CIRCUMSTANCES CANNOT BE A LTOGETHER RULED OUT. COUPLED WITH THIS, WE ALSO NOTICE THAT THE CIT(A)S LOWER A PPELLATE DISCUSSION HAS NOT CONSIDERED ALL THE RELEVANT EVIDENCE IN SUPPORT OF GENUINENESS / CREDITWORTHINESS OF ITS SHARE INVESTORS SINCE HE HAS PRIMARILY GONE BY NUMEROUS JUDICIAL PRECEDENTS ONLY WHILST AFFIRMING THE IMPUGNED ADDITION. WE THEREFOR E DEEM IT APPROPRIATE THAT LARGER INTEREST OF JUSTICE WOULD BE MEET IN CASE THE CIT(A ) RE-CONSIDERS THE ASSESSEES LOWER APPELLATE PROCEEDINGS U/S 250(6) OF THE ACT AFRESH AS PER LAW WITHIN THREE EFFECTIVE OPPORTUNITIES OF HEARING. WE ORDER ACCORDINGLY. 3. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN OPEN COURT ON 26/02/2020 SD/- SD/- ( ') () ') (J.SUDHAKAR REDDY) (S.S.GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER *DKP-SR.PS * - 26/02/2020 / KOLKATA ITA NO.1555/KOL/2018 ASSESSMENT YEAR 2012-13 M/S SUHANA BRIDGE & ROOF CONSULTANTS ( P) LTD. VS ITO-WD-5(1) KOL. PAGE 3 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-M/S SUHANA BRIDGE & ROOF CONSULTANTS (P) LTD. 12, N.S. BOSE ROAD, ROOM NO. 7, KOLKATA-700 001 2. /RESPONDENT-ITO WD-5(1),CHAMBER NO. 901, 9 TH FLOOR, AAYAKAR BHAWAN POORVA 110, SHA NTI PALLY, KOLKATA-107 3. - . / CONCERNED CIT 4. . - / CIT (A) 5. / ))- , - /DR, ITAT, KOLKATA 6. 3 / GUARD FILE. BY ORD ER/ , /TRUE COPY/ -,