M/s. Kundu Projects Pvt. Ltd., , Hooghly V. ACIT, Circle - 23(1), Hooghly , Hooghly

ITA 1603/KOL/2018

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 1351 (ITAT-KOLKATA)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-03-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 26-07-2018
• Court: TRIBUNAL

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.1603/KOL/2018 ASSESSMENT YEAR:2014-15 M/S KUNDU PROJECTS PVT. LTD. C/O DR. NIMAI CHAND PALLISHRI, ARAMBAGH, HOOGHLY-712601 [ PAN NO. AADCK 1883 F ] / V/S . ACIT, CIRCLE-23(1), AAYAKAR BHAWAN, G.T. ROAD, KHADINAI MORE, CHINSURA, HOOGHLY- 712101 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI S.M.SURANA, ADVOCATE /BY RESPONDENT SHRI C.J. SINGH, JCIT-SR-DR /DATE OF HEARING 28-02-2019 /DATE OF PRONOUNCEMENT 15-03-2019 /O R D E R THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2014-15 , ARISES AGAINST THE COMMISSIONER OF INCOME-TAX (APPEALS)-6 KOLKATAS OR DER DATED 04.05.2018 PASSED IN CASE NO. CIT(A), KOL-6/10205/2016-17, INVOLVING PRO CEEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. I FIND DURING THE COURSE OF HEARING THAT THE ASS ESSEES SOLE SUBSTANTIVE GROUND CHALLENGES CORRECTNESS OF BOTH THE LOWER AUTHORITIE S ACTION TREATING ITS UNSECURED LOAN AMOUNTING TO 17.38 LAC AS RECEIVED FROM RELATIVES OF THE DIRECTO R AS BOGUS AND UNEXPLAINED CASH CREDITS U/S.68 OF THE ACT. CASE FI LE SUGGESTS THAT ASSESSEE HAD PLACED ON RECORD BANKING CHALLAN DETAILS, AMOUNTS, CORRESP ONDING DEBIT, PAN OF THE EIGHT PARTIES IN ISSUE ALONG WITH LOAN CONFIRMATION CERTI FICATES COMING FROM ALL OF THEM ADDRESSED TO THE ASSESSING OFFICER. LEARNED DEPARTM ENTAL REPRESENTATIVE FAILS TO REBUT THE FACT THAT THE ASSESSING OFFICER DID NOT E VEN ISSUE SEC. 133(6) PROCESS TO ANY ITA NO.1603/KOL/2018 A.Y. 2014-15 M/S KUNDU PROJECTS PVT. LTD. VS. ACIT, C IR-23(1), HGY PAGE 2 OF THE SAID PARTIES. THIS TRIBUNALS IN JYOTI SARAF VS. ITO IN ITA NO.2677/KOL/2013 DECIDED ON 15.07.2014 THIS NOTE OF HON'BLE JURISDIC TIONAL HIGH COURT IN CIT VS. M/S DATAWARE PVT. LTD. IN ITA NO.263 OF 2011, GA NO.285 6 OF 2011 DECIDED ON 21.09.2011 THAT IT IS FOR THE ASSESSING OFFICER TO CONDUCT NECESSARY ENQUIRIES FROM THE ASSESS CREDITORS IN ISSUE REGARDING GENUINENESS OF THE LOAN TRANSACTIONS. I REITERATE THAT ASSESSING OFFICER IN THE INSTANT CASE HAS NOWHERE T AKEN RECOURSE SUCH AN EXERCISE. I THEREFORE DELETE THE IMPUGNED ADDITION ON THIS COUN T ALONE. 3. THIS ASSESSEES APPEAL IS ALLOWED. ORDER PRONOUNCED IN OPEN COURT ON 15/03/2019 SD/- (S.S. GODARA) JUDICIAL MEMBE R KOLKATA, *DKP/SR.PS - 15/03/2019 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-M/S KUNDU PROJECTS PVT. LTD., C/O DR. NI MAI CHAND PALLISHRI ARAMBAGH, HOOG HLY-712601 2. /RESPONDENT-ACIT, CIR-23(1), AAYAKAR BHAWAN, G.T.RO AD, KHADINA MORE, CHINSURA, HOOGH LY-712101 3. ' % / CONCERNED CIT 4. % - / CIT (A) 5. & ))' , ' / DR, ITAT, KOLKATA 6. + / GUARD FILE. BY ORDER/ , /TRUE COPY/ / ',