M/s. Santoshi Infraprojects Pvt. Ltd., Kolkata V. ITO, Ward - 14(4), Kolkata, Kolkata

ITA 2119/KOL/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 3339 (ITAT-KOLKATA)
• Duration Of Justice: 10 month(s) 28 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-08-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2012-2013
• Appeal Filed On: 26-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P MUKHERJEE
• Assessee Lawyers: B K SINGH
• Keywords: Unexplained cash credit; Assessment record
• Section: 143(3); 133(6); 68; 6

Judgement Text

, D , IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH D KOLKATA BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. A.L. SAINI, ACCOUNTANT MEMBER ITA NO. 2119 / KOL / 20 17 ASSESSMENT YEAR :2912-13 M/S SANTOSHI INFRAPROJECTS PVT. LTD., 64, BENTICK STREET, 3 RD FLOOR, ROOM NO.11B, KOLKATA-69 [ PAN NO. AAPCS 6774 D ] V/S . INCOME TAX OFFICER WARD-14(4), 110, SHANTI PALLY, POORVA AYAKA BHAWAN, KOLKATA-107 /APPELLANT .. / RESPONDENT /BY APPELLANT SHRI B.K.SINGH, ADVOCATE /BY RESPONDENT SHRI P. MUKHERJEE, ADDL. CIT-DR /DATE OF HEARING 14-08-2018 /DATE OF PRONOUNCEMENT 24-08-2018 / O R D E R PER S.S.GODARA, JUDICIAL MEMBER:- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2012-13 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-5 KOLKATAS OR DER DATED 09.06.2017, PASSED IN CASE NO.296/CIT(A)-5/WD-114(4)/15-16, IN PROCEEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE ASSESSEES ONLY GRIEVANCE PLEADED IN THE INS TANT APPEAL THE CHALLENGES CORRECTNESS OF LOWER APPELLATE ORDER PAS SED EX PARTE AFFIRMING THE ASSESSING OFFICERS ACTION TREATING ITS SHARE CAPIT AL / PREMIUM OF 1,78,50,000/- TREATED AS UNEXPLAINED CREDITS U/S. 6 8 IN ASSESSMENT ORDER DATED 27.03.2015. SUFFICE TO SAY, CIT(A)S ORDER UN DER CHALLENGE IN PARA-2 HAS PREPARED A COMPILATION OF VARIOUS NOTICE(ES) OF HEA RING ISSUED ON FIVE OCCASIONS AS STATED TO HAVE BEEN DULY SERVED ON THE TAXPAYER. THIS FOLLOWS ITA NO.2119/KOL/2017 A.Y. 2012 -13 M/S SANTOSHI INFRPROJECTS PVT. LTD. VS. ITO WD-14(4), KOL PAGE 2 THE CIT(A)S DETAILED DISCUSSION IN PARAS 3.2 AND 3 .2 AFFIRMING THE ASSESSMENT FINDINGS THAT ASSESSEES INVESTORS INVOLVING AMOUNT S OF CRORES OF RUPEES HAD VERY LOW PROFITS WHO DID NOT EVEN RESPOND TO SECTIO N 133(6) NOTICES. LEARNED DEPARTMENTAL REPRESENTATIVE FAILS TO DISPUTE THE FA CT THAT THE RELEVANT DOCUMENTARY EVIDENCE FORMING PART OF RECORD IN THE NATURE OF BANK STATEMENTS, INCOME TAX RETURN ACKNOWLEDGEMENTS, BAL ANCE-SHEETS PROFIT AND LOSS ACCOUNTS ETC. OF THE CONCERNED INVESTORS FORMI NG PART OF ASSESSMENT RECORDS HAVE NOWHERE BEEN CONSIDERED EITHER IN ASSE SSMENT OR IN THE CIT(A)S ORDER U/S. 250(6) OF THE ACT. LEARNED COUN SEL REPRESENTING ASSESSEE ALSO SUBMITS THAT IT COULD NOT BE REPRESENTED IN LO WER APPELLATE PROCEEDINGS BECAUSE OF SOME COMMUNICATION GAP WITH THE COUNSEL. BE THAT AS IT MAY, LEARNED CIT(A)S ORDER DOES NOT EVEN AS TO WHO ARE THE INVESTOR PARTIES INVOLVED IN THE INSTANT CASE ALONGWITH THEIR RESPEC TIVE EVIDENCE ON RECORD. WE THUS DEEM IT APPROPRIATE TO REMIT THE INSTANT LIS B ACK TO THE CIT(A) FOR HIS FRESH ADJUDICATION LEGAL AS WELL AS FACTUAL ASPECTS OF TH E ABOVE SOLE ISSUE AFTER AFFORDING THRICE EFFECTIVE OPPORTUNITIES OF HEARING . 3. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT 24/08/2018 SD/- SD/- ( %) (' %) (DR. A.L. SAINI) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) KOLKATA, *DKP, SR.P.S (- 24 / 08 /201 8 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-M/S SANTOSHI INFRAPROJECTS PVT. LTD. 64, BEN TICK STREET, 3 RD FLOOR, ROOM NO.11B, KOLKATA-69 2. /RESPONDENT- ITO WARD-14(4),110, SHANTI PALLY, POORV A AYAKAR BHAWAN, KOL-107 3. 3 4 / CONCERNED CIT KOLKATA 4. 4- / CIT (A) KOLKATA 5. 7 ''3, 3, / DR, ITAT, KOLKATA 6. < / GUARD FILE. BY ORDER/ , /TRUE COPY/ SR. PRIVATE SECRETARY, HEAD OF OFFICE/DDO 3,