Sketch Housing Pvt. Ltd., Kolkata V. I.T.O.,Ward-9(4), Kolkata

ITA 1589/KOL/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 7289 (ITAT-KOLKATA)
• Duration Of Justice: 6 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-01-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 28-01-2020
• Assessment Year: 2014-2015
• Appeal Filed On: 01-07-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RANU BISWAS CIT SR D R RESPON
• Assessee Lawyers: N O N E
• Section: 143(3); 201

Judgement Text

ITA NO. 1589/KOL/2019 ASSESSMENT YEAR: 20 14 - 20 15 SKETCH HOUSING PVT. LIMITED 1 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA A (SMC) BENCH, KOLKATA BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER I.T.A. NO. 1589 /KOL/20 1 9 ASSESSMENT YEAR: 20 1 4 - 20 1 5 S KETCH HOUSING PVT. LIMITED,.... ........... ....... ..... .. .. ... ...... ... .. APPELLANT 4, BRIJU DULAL STREET, KOLKATA - 700007 [PAN:A AKCS9238D ] - VS. - INCOME TAX OFFICER , ....................... ... ....... ... .....................RESPONDENT WARD - 9 ( 4 ), KOLKATA, AAYAKAR BHAWAN, ROOM NO. 5/18, P - 7, CHOWRINGHEE SQUARE, KOLKATA - 700069 APPEARANCES BY: N O N E , FOR THE APPELLANT SMT. RANU BISWAS, ADDL. CIT, SR. D.R., FOR THE RESPONDEN T DATE OF CONCLUDING THE HEARING : JANUARY 2 8 , 20 20 DATE OF PRONOUNCING THE ORDER : JANUARY 3 1 , 20 20 O R D E R 1. THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 201 4 - 15 ARISES AGAINST THE CIT(A), 3 , KOLKATAS ORDER DATED 28 - 05 - 2019 PASSED IN CASE NO. CIT(A) - 3, KOLKATA/10950/16 - 17/KOL INVOLVING PROCEEDINGS U/S 143(3) OF THE INCOME - TAX ACT, 1961 ( IN SHORT ACT). CASE CALLED TWICE. THE REGISTERED (RP/AD) NOTES DT. 26 - 11 - 2019 ISSUED TO THE ASSESSEE STANDS RETURNED BY THE POSTAL AUTHORITIES. IT IS ACCORDINGLY PROCEEDED EX PARTE. THE MAIN APPEAL IS NOW TAKEN UP FOR ADJUDICATION ON MERITS. THE A SSESSEES SOLE SUBSTA NTIVE GRIEVANCE CHALLENGES CORRECTNESS OF BOTH THE LOWER AUTHORITIES ACTION DISALLOWING LOSS OF RS. 5,97,034/ - ARISING FROM ITA NO. 1589/KOL/2019 ASSESSMENT YEAR: 20 14 - 20 15 SKETCH HOUSING PVT. LIMITED 2 SALE OF SHARES HELD IN M/S. NIKKI GLOBAL FINANCE LIMITED . BOTH THE LEARNED LOWER AUTHORITIES HAVE HELD THAT ALTHOUGH THE ASSESSEE H AS PLACED ON RECORD ITS D - MAT HOLDING, STATEMENT, CONTRACT NOTES OF PURCHASE AND SALE OF SHARES AND BANK STATEMENTS , BUT THE SAME DO NOT INSPI R E CONFIDENCE SINCE SUFFERING FROM LACK OF GENUINENESS AND CREDITWORTHINESS AS PER SUMATI DAYAL & DURGAPRASAD MO RE REPORTED IN (1995) 214 ITR 801(SC) & 82 ITR 540(SC) . THE V ERY FACTUAL POSITION CONTINUES BEFORE THE TRIBUNAL SINCE THERE IS NO MATERIAL TO REBUT THE SAME . I THEREFORE CONFIRMED THE IMPUGNED DISALLOWANCE/ADDITION OF BOGUS LOSS OF RS. 5,97,034/ - . 3 . IN THE RESULT, T HIS ASSESSEES APPEAL IS DISMISSED. ORDER PRONOUNCED IN THE COURT ON 3 1 - 01 - 2020 S D / - (SATBEER SINGH GODARA) JUDICIAL MEMBER KOLKATA, THE 3 1 DAY OF JANUARY, 2020 *PP/ COPIES TO : (1) SKETCH HOUSING PVT. LIMITED, 4, BRIJU DULAL STREET, KOLKATA - 700007 (2) INCOME TAX OFFICER, WARD - 9(4), KOLKATA, AAYAKAR BHAWAN, ROOM NO. 5/18, P - 7, CHOWRINGHEE SQUARE, KOLKATA - 700069 ( 3 ) COMMISSIONER OF INCOME TAX (APPEALS) - 3 , KOLKATA ; (4) COMMISSIONER OF INCOME TAX - , KOLKATA ( 5 ) THE DEPARTMENTAL REPRESENTATIVE ( 6 ) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA