M/s. Natural View Datatech Advisors (P) Ltd., , Kolkata V. ITO, Ward - 1(2), Kolkata , Kolkata

ITA 1556/KOL/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 8802 (ITAT-KOLKATA)
• Duration Of Justice: 8 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-04-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 19-07-2018
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: RADHEY SHYAM
• Section: 131; 68

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH: KOLKATA BEFORE: SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER AND DR. A.L. SAINI, ACCOUNTANT MEMBER I.T.A NO.1556/KOL/2018 (ASSESSMENT YEAR: 2012-13) M/S. NATURAL VIEW DATATECH ADVISORS (P) LTD. APPELLANT [PAN: AADCN 5370 J] VS ITO, WARD-1(2), KOLKATA RESPONDENT FOR THE APPELLANT : NONE FOR THE RESPONDENT : SHRI RADHEY SHYAM, CIT, DR DATE OF HEARING : 03.04.2019 DATE OF PRONOUNCEMENT : 05.04.2019 ORDER PER SHRI S.S. VISWANETHRA RAVI, JM: THIS APPEAL BY THE ASSESSEE AGAINST THE ORDER DATED 21.03.2018 PASSED BY THE COMMISSIONER OF INCOME TAX(APPEALS)-1, KOLKATA FOR THE ASSESSMENT YEAR 2012-13 WHEREIN HE DISMISSED GROUNDS OF APPEAL EX PARTE OF ASSESSEE. 2. AT THE TIME OF HEARING, WE FIND NO REPRESENTATION ON BEHALF OF THE ASSESSEE NOR ANY APPLICATION FILED SEEKING ADJOURNMENT, THE ASSESSEE CALLED ABSENT AND SET EX PARTE. THUS WE PROCEED TO HEAR THE LD. DR. 3. HEARD THE LD. DR AND PERSUED THE MATERIALS AVAILABLE ON RECORD. THE ASSESSING OFFICER MADE SUBSTANTIAL ADDITION U/S 68 OF THE ACT TO THE EXTENT OF RS.1,99,80,000/-. WE FIND NO COMPLIANCES IN ASSESSMENT PROCEEDINGS IN RESPONSE TO THE SUMMONS ISSUED U/S 131 OF THE ACT TO VARIOUS SHAREHOLDERS TO EXAMINE THEIR IDENTITY, GENUINENESS AND CREDITWORTHINESS OF TRANSACTIONS. IT IS ALSO NOTED AND AS DISCUSSED ABOVE, NO REPRESENTATION WHATSOEVER MADE BY THE ASSESSEE IN THE FIRST I.T.A NO.1556/KOL/2018 ASSESSMENT YEAR: 2012-13 M/S. NATURAL VIEW DATATECH ADVISORS (P) LTD. 2 APPELLATE PROCEEDINGS. THEREFORE, IT IS CLEAR THAT NO OPPORTUNITY WAS AVAILABLE TO THE ASSESSEE IN BOTH THE AUTHORITIES BELOW TO EXAMINE THE IDENTITY, GENUINENESS AND CREDITWORTHINESS OF TRANSACTIONS RELATING TO THE ADDITION MADE U/S 68 OF THE ACT. AS RIGHTLY SUGGESTED BY THE LD. DR, WE DEEM IT PROPER TO REMAND THE MATTER TO THE FILE OF CIT(A) FOR HIS FRESH CONSIDERATION. THE ASSESSEE IS AT LIBERTY TO FILE EVIDENCES, IF ANY, IN SUPPORT OF ITS CLAIM. THUS GROUNDS RAISED BY THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 05.04.2019. SD/- SD/- [DR. A. L. SAINI] [S.S. VISWANETHRA RAVI] ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 05.04.2019 PLACE : KOLKATA RS, SR.PS COPY OF THE ORDER FORWARDED TO: 1 . APPELLANT M/S. NATURAL VIEW DATATECH ADVISORS (P) LTD., 7/1A, GRANT LANE, KOLKATA 700 012. 2 RESPONDENT ITO, WARD-1(2), KOLKATA. 3 . THE CIT(A), KOLKATA 4. 5. CIT , KOLKATA DR, KOLKATA BENCHES, KOLKATA //TRUE COPY// BY ORDER, ASSISTANT REGISTRAR, ITAT, KOLKATA