ITO, Ward-1(3), Hooghly, Hooghly V. Alamalakala Malleswar Rao, Hooghly

ITA 2003/KOL/2014

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 1621 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 9 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-08-2017
• Appeal Filed By: Department
• Order Result: Partly Allowed
• Bench Allotted: C
• Assessment Year: 2011-2012
• Appeal Filed On: 28-10-2014
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: MIRAJ D. SHAH
• Keywords: Peak credit; Condonation of delay

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA C BENCH, KOLKATA [BEFORE SRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER & SRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER] I.T.A. NO. 2003/KOL/2014 ASSESSMENT YEAR: 2011-12 I.T.O. WARD-1(3), KOLKATA.. ..APPELLANT HOOGHLY AAYAKAR BHAWAN KHADINAMORE, G T ROAD HOOGHLY - 712101 ALAMALAKALA MALLESWAR RAO.... ...RESPONDENT SRI ALAMALAKALA MALLESWAR RAO CIRCULAR ROAD, MAHESH SERAMPORE, DIST.- HOOGHLY - 712202 [PAN : AHUPR 1047 B] APPEARANCES BY: SHRI MIRAJ D. SHAH, AR, APPEARING ON BEHALF OF THE ASSESSEE. MR. DAVID Z. CHAWNGTHU, ADDITIONAL CIT, SR. DR, APP EARING ON BEHALF OF THE REVENUE. DATE OF CONCLUDING THE HEARING : AUGUST 08, 2017 DATE OF PRONOUNCING THE ORDER : AUGUST 23, 2017 O R D E R PER J. SUDHAKAR REDDY :- THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS)-XXXVI, KOLKATA (HEREINAFTER THE LD. CIT(A)), DT. 24/07/2014, PASSED U/S 250 OF THE INC OME TAX ACT, 1961 (THE ACT), FOR THE ASSESSMENT YEAR 2011-12. 2. THERE IS A DELAY OF SEVEN DAYS AND FILING OF THE APPEAL. ON PERUSAL OF THE PETITION FOR CONDONATION OF DELAY WE ARE CONVIN CED THAT THE REVENUE IS PREVENTED BY SUFFICIENT CAUSE FROM FILING THE APPEA L IN TIME. HENCE, WE CONDONE THE DELAY AND ADMIT THE APPEAL. 2 I.T.A. NO. 2003/KOL/20 14 ASSESSMENT YEAR: 2011-12 ALAMALAKALA MALLESWAR RAO 3. NONE APPEARED ON BEHALF OF THE ASSESSEE DESPITE ISSUAL OF NOTICE. ON EARLIER OCCASIONS ALSO THE NOTICES ISSUED WERE NOT RESPONDED TO. THERE IS NO PETITION FOR ADJOURNMENT EITHER. UNDER THESE CIRCUM STANCES, WE DISPOSE OFF THE CASE EX-PARTE, QUA THE ASSESSEE ON MERITS, AFTER HEARING THE LD. DR. 4. THE SUM AND SUBSTANCE OF THE SUBMISSIONS OF THE LEARNED DR, IS THAT THE LEARNED CIT(A) HAD WITHOUT GIVING AN OPPORTUNIT Y TO THE ASSESSING OFFICER, ARRIVED AT THE PEAK CREDIT BALANCES OF RS. 332,407/-. IT WAS SUBMITTED THAT THE PEAK THEORY WOULD NOT APPLY TO T HE FACTS OF THE CASE, AS THE ASSESSEE HAD FOUR UNDISCLOSED BANK ACCOUNTS AND THE WITHDRAWALS IN THESE BANK ACCOUNTS WERE FOR VARIOUS EXPENSES AND I T WAS NOT A CASE OF CIRCULATION OF SAME MONEY BETWEEN THE WITHDRAWALS A ND THE DEPOSITS. 5. AS THERE IS NO REPRESENTATION ON BEHALF OF THE A SSESSEE, WE DEEM IT FIT AND PROPER TO SET ASIDE THIS APPEAL TO THE FILE OF THE ASSESSING OFFICER FOR FRESH ADJUDICATION, IN ACCORDANCE WITH LAW, AFTER E XAMINING THE COMPUTATION OF THE PEAK CREDIT OF THE ASSESSEE. 6. IN THE RESULT, THE APPEAL OF THE REVENUE IS ALLO WED FOR STATISTICAL PURPOSES. KOLKATA, THE 23 RD DAY OF AUGUST, 2017. SD/- SD/- [S.S. VISWANETHRA RAVI] [ J. SUDHAKAR REDDY ] JUDICIAL MEMBER ACCOU NTANT MEMBER DATED : 23.08.2017 {SC SPS} 3 I.T.A. NO. 2003/KOL/20 14 ASSESSMENT YEAR: 2011-12 ALAMALAKALA MALLESWAR RAO COPY OF THE ORDER FORWARDED TO: 1. I.T.O. WARD-1(3), KOLKATA HOOGHLY AAYAKAR BHAWAN KHADINAMORE, G T ROAD HOOGHLY - 712101 2. ALAMALAKALA MALLESWAR RAO SRI ALAMALAKALA MALLESWAR RAO CIRCULAR ROAD, MAHESH SERAMPORE, DIST.- HOOGHLY - 712202 3. CIT(A)- 4. CIT- , 5. CIT(DR), KOLKATA BENCHES, KOLKATA. TRUE COPY BY ORDER SENIOR PRIVATE SECRETARY HEAD OF OFFICE/ D.D.O. ITAT, KOLKATA BENCHES