Smt. Sweta N Gandhi, Mumbai V. DCIT, Circle 40, Kolkata, Kolkata

ITA 2109/KOL/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 1890 (ITAT-KOLKATA)
• Duration Of Justice: 5 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-04-2017
• Appeal Filed By: Assessee
• Bench Allotted: SMC
• Assessment Year: 2004-2005
• Appeal Filed On: 02-11-2016
• Court: TRIBUNAL

Judgement Text

I T A NO. 2109/KOL/16 SMT. SWETA N GANDHI 1 IN THE INCOME TAX APPELLATE TRIBUNAL,DBENCH, KOLKATA BEFORE: SHRI WASEEM AHMED, ACCOUNTANT MEMBER AND SHRI S.S.VISWANETHRA RAVI, JUDICIAL MEMBER ITA NO.2109/KOL/2016 A.Y: 2004-05 SMT. SWETA N GANDHI VS. DEPUTY COMMISSIONER PAN: AEDPG3878D OF INCOME-TAX,CIRCLE -40 KOLKATA (APPELLANT) (RESPONDENT) APPEARANCES BY : NONE APPEARED/ADJ.PETITION FILED/REJECTED SHRI RAJENDRA PRASAD, JCIT, LD.DR FOR THE REVENUE DATE OF HEARING : 23-03-2017 DATE OF PRONOUNCEMENT : 26-04-2017 O R D E R SHRI S.S. VISWANETHRA RAVI, JM :- THIS APPEAL BY THE ASSESSEE IS AGAINST THE ORDER DT : 30-12- 2015 PASSED BY THE COMMISSIONER OF INCOME TAX (APPE ALS),13, KOLKATA FOR THE ASSESSMENT YEAR 2004-05. 2. THE ONLY GROUND IN THIS APPEAL OF ASSESSEE WHET HER THE CIT-A JUSTIFIED IN CONFIRMING THE DISALLOWANCE OF C APITAL LOSS OF RS.9,46,325/- ON SALE OF SHARES BY PASSING AN EX PA RTE ORDER IN THE FACTS AND CIRCUMSTANCES OF THE CASE. 3. IT IS NOTICED THAT NONE WAS APPEARED ON BEHALF O F ASSESSEE AT THE TIME OF HEARING BEFORE US. HOWEVER, VIDE LET TER DT. 23- 04-2017 ( COPY OF THE SAME IS AVAILABLE ON RECORD ) THE I T A NO. 2109/KOL/16 SMT. SWETA N GANDHI 2 ASSESSEE SOUGHT FOR ADJOURNMENT. IT IS NOTICED FROM THE IMPUGNED ORDER THAT THE CIT-A PASSED EX PARTE ORDE R, THEREFORE, WE PROCEED TO HEAR THE LD.DR AND PERUSIN G THE MATERIAL AVAILABLE ON RECORD DISPOSE OFF THE SAME O N MERITS. HENCE, THE ADJOURNMENT PETITION FILED BY THE ASSESS EE IS REJECTED. 4. IT FURTHER IS NOTICED FROM THE RECORD THAT THE N OTICES SENT TO ASSESSEE WERE RETURNED UNSERVED, THEREBY, CIT-A PASSED AN ORDER EX PARTE CONFIRMING THE IMPUGNED ADDITION MAD E BY THE AO. 5. THE LD.DR SUBMITS THAT IT IS A CASE OF NON SUBMI SSION OF DETAILS OF CAPITAL GAIN FROM THE SALE OF SHARES. TH E ASSESSEE WAS ASKED TO PROVIDE ALL THE DETAILS RELATING TO THE I SSUE AND THE ASSESSEE DID NOT PRODUCE ANYTHING BEFORE AO AND THE REBY, THE AO DISALLOWED THE LOSS OF RS.9,46,325/- AS CLAIMED BY THE ASSESSEE. THE CIT-A ISSUED NOTICES FIXING THE HEARI NG ON THREE OCCASIONS AND ALL THE NOTICES WERE RETURNED UNSERVE D. THE LD.DR ARGUED THAT ALL THE TRANSACTIONS AS CLAIMED IN THE ASSESSMENT PROCEEDINGS ARE BOGUS. HE SUPPORTED THE ORDER OF AO . 6. HEARD THE LD.DR AND PERUSED THE RECORD. WE FIND THAT THE ASSESSEE COULD NOT PRODUCE ANY EVIDENCE TO SHOW THA T THE TRANSACTION AS CLAIMED TO SUBSTANTIATE THE RELIEF SOUGHT IN RETURN OF INCOME. ALL THE NOTICES ISSUED BY THE CIT -A WERE RETURNED UNSERVED. THE LD.DR OBJECTED TO REMAND THE ISSUE TO THE FILE OF CIT-A. BUT, HOWEVER, IN THE INTEREST OF JUSTICE, WE REMAND THE ISSUE TO THE FILE OF CIT-A FOR HIS FRESH CONSIDERATION AND TO TAKE STEP TO SERVE THE NOTICES ON ASSESSEE A ND TO PASS I T A NO. 2109/KOL/16 SMT. SWETA N GANDHI 3 AN ORDER IN ACCORDANCE WITH LAW. THEREFORE, THE GRO UND(S) RAISED BY THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSE. 7. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN OPEN COURT ON 26/04/2 017 SD/- SD/- WASEEM AHMED S.S. VISWANETHRA RAVI ACCOUNTANT MEMBER JUDICIAL MEMBER DATED 26-0 4-2017 *PP/SPS: COPY OF THE ORDER FORWARDED TO: 1 . THE APPELLANT/ASSESSEE: SMT. SWETA N GANDHI C/O N.I GANDHI, LYKA LABS LTD 101 SHIV SHAKTI INDUTRIAL ESTATE, ANDHERI (E), MUMB AI 400059. 2 THE RESPONDENT/DEPARTMENT: THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-40, KOLKATA. 3 4. THE CIT(A) THE CIT 5 . DR, KOLKATA BENCH 6 . GUARD FILE . BY ORDER, ASSTT. REGISTRAR