Megapix Suppliers Pvt. Ltd., , Kolkata V. ITO, Ward - 9(1), Kolkata , Kolkata

ITA 1598/KOL/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 1755 (ITAT-KOLKATA)
• Duration Of Justice: 10 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-06-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2012-2013
• Appeal Filed On: 25-07-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: AGAINST DATED PASSED
• Keywords: Unexplained cash credit
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH D, KOLKATA BEFORE SH. P.M.JAGTAP, VICE PRESIDENT & SH.S.S.VISWANETHRA RAVI, JUDICIAL MEMBER ITA NO.1598/KOL/2018 (ASSESSMENT YEAR-2012-13) ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER THIS APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER DATED 20.02.2018 PASSED BY CIT(A)-18, KOLKATA FOR AY 2012-13 WITH A DELAY OF 89 DAYS. 2. THE LD. AR REFERRED TO THE NOTARISED AFFIDAVIT DATED 03.04.2019 DEPOSED BY ONE OF THE DIRECTORS OF THE ASSESSEE AND SUBMITTED THAT NO NOTICE OF HEARING WAS RECEIVED FROM THE CIT(A) BY THE ASSESSEE. THE ASSESSEE FILED AN APPLICATION TO RECALL THE EX-PARTE ORDER PASSED BY THE CIT(A) WHICH WAS REJECTED BY ADVISING TO FILE AN APPEAL BEFORE THE ITAT. HE FURTHER SUBMITS THE REASONS STATED BY THE ASSESSEE IN ITS AFFIDAVIT CAUSED DELAY IN FILING THIS APPEAL IN TIME BEFORE THIS TRIBUNAL AND THE ASSESSEE UNDERTAKES TO MAKE COMPLIANCES BEFORE THE CIT(A) IF THIS TRIBUNAL PLEASES TO REMAND THE MATTER TO THE CIT(A) FOR HIS FRESH CONSIDERATION. 3. AFTER HEARING BOTH THE PARTIES AND ON PERUSAL OF THE AFFIDAVIT, WE FIND THE REASONS STATED BY THE ASSESSEE REALLY PREVENTED THE ASSESSEE TO FILE APPEAL BEFORE THIS TRIBUNAL IN TIME AND THE DELAY OF 89 DAYS ARE CONDONED. MEGAPIX SUPPLIERS PVT.LTD., 5/1, CLIVE ROW, 4 TH FLOOR, ROOM NO.125, KOLKATA-700001. PAN-AAHCM6441M VS ITO, WARD-9(1), KOLKATA-700069 (APPELLANT) (RESPONDENT) APPELLANT BY SH.SUBHASH AGARWAL, ADV. RESPONDENT BY SH. RADHEY SHYAM, CIT DR DATE OF HEARING 08.04.2019 DATE OF PRONOUNCEMENT 12.06.2019 ITA NO.1598/KOL/2018 (ASSESSMENT YEAR-2012-13) PAGE | 2 4. ON MERITS, IT IS NOTED THAT THE AO MADE SUBSTANTIAL ADDITION U/S 68 OF THE INCOME TAX ACT, 1961 (IN SHORT ACT) ON ACCOUNT OF SHARE CAPITAL AND PREMIUM UNDER THE HEAD UNEXPLAINED CASH CREDIT. AS DISCUSSED ABOVE, THERE WAS NO OCCASION FOR THE ASSESSEE TO PUT FORTH ITS CONTENTIONS BEFORE THE CIT(A) AS THE APPEAL WAS DISMISSED FOR NON- COMPLIANCES. TAKING INTO CONSIDERATION THE SUBMISSIONS OF THE LD.AR & LD. DR AND FACTS AND CIRCUMSTANCES OF THE CASE AND IN THE INTEREST OF JUSTICE, WE REMAND THE MATTER TO THE CIT(A) FOR HIS FRESH CONSIDERATION. THUS, GROUNDS RAISED BY THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 12.06.2019. SD/- SD/- (P.M.JAGTAP) (S.S.VISWANETHRA RAVI) VICE PRESIDENT JUDICIAL MEMBER DATE:- 12.06.2019 *AMIT KUMAR* COPY FORWARDED TO: 1. APPELLANT- MEGAPIX SUPPLIERS PVT.LTD., 5/1, CLIVE ROW, 4 TH FLOOR, ROOM NO.125, KOLKATA-700001. 2. RESPONDENT- ITO, WARD-9(1), KOLKATA-700069. 3. CIT-KOLKATA 4. CIT(APPEALS)-KOLKATA 5. DR: ITAT -KOLKATA BENCHES BY ORDER AR/H.O.O ITAT, KOLKATA