Gentle Commosales Pvt. Ltd., , Kolkata V. ITO, Ward - 9(2), Kolkata

ITA 2204/KOL/2018

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 4809 (ITAT-KOLKATA)
• Duration Of Justice: 7 month(s) 1 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-05-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 16-10-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHANKAR HALDER JCITSRDR
• Assessee Lawyers: BRIJESH KUMAR SINGH
• Keywords: Unexplained cash credit
• Section: 144

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. 2204 / KOL / 20 18 ASSESSMENT YEAR :2012-13 GENTLE COMMOSALES PVT. LTD., 9A & 9B SRINATH ROY LANE, GROUND FLOOR, KOLKAT-700007 [ PAN NO.AADCG 8072 C ] V/S . INCOME TAX OFFICER, WARD-9(2), AAYKAR BHAWANA, P-7, CHOWRINGHEE SQUARE, 5 TH FLOOR, KOLKATA-69 /APPELLANT .. / RESPONDENT /BY APPELLANT SHRI BRIJESH KUMAR, SINGH, ADVOCATE /BY RESPONDENT SHRI SHANKAR HALDER, JCIT-SR-DR /DATE OF HEARING 08-05-2019 /DATE OF PRONOUNCEMENT 17-05-2019 / 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)-3, KOLKATAS O RDER DATED 13.08.2018 PASSED IN CASE NO.620/CIT(A)-3/W 9(2)/15-16/KOL, IN VOLVING PROCEEDINGS U/S 144 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT . 2. THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE SEEKS TO REVERSE BOTH THE LOWER AUTHORITIES ACTION TREATING ITS SHARE CAPITAL / PREMIUM OF 2,62,50,000/- AS UNEXPLAINED CASH CREDITS. IT TRANSPIRES AT THE O UTSET THAT THE CIT(A) HAS PASSED HIS LOWER APPELLATE ORDER EX PARTE WHILST AF FIRMING ASSESSING OFFICERS IMPUGNED ACTION. THE ASSESSEE HAD DULY FILED ITS AD JOURNMENT PETITION ON THE ITA NO.2204/KOL/2018 A.Y. 2012 -13 GENTLE COMMOSALES PVT. LTD. VS. ITO WD-9(2), KO L. PAGE 2 LAST DATE OF HEARING I.E. 01.08.2018. THE SAME STOO D REJECTED GIVING RISE TO THE IMPUGNED EX PARTE LOWER APPELLATE ADJUDICATION. WE DEEM IT APPROPRIATE IN THESE FACTS AND CIRCUMSTANCES THAT LARGER INTEREST OF JUSTICE WOULD BE MET IN CASE THE CIT(A) ONCE AGAIN RE-ADJUDICATES THE ENTIR E ISSUE. WE THEREFORE RESTORE THE ISSUE BACK TO THE CIT(A). THE ASSESSEE ITSELF IS DIRECTED TO APPEAR BEFORE THE CIT(A) ON OR BEFORE 1 ST AUGUST, 2019 ALONGWITH A COPY OF THIS ORDER. IT SHALL PROVE IDENTITY, GENUINENESS AND CRE DITWORTHINESS OF ITS SHARE CAPITAL IN ISSUE WITHIN THREE EFFECTIVE OPPORTUNITI ES OF HEARING IN CONSEQUENTIAL LOWER APPELLATE PROCEEDINGS. 3. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT 17/05/2019 SD/- SD/- ( %) (' %) (DR.A.L. SAINI) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) KOLKATA, *DKP, SR.P.S (- 17 / 05 /201 9 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-GENTLE COMMOSALES PVT. LTD. 9A & 9B SRIN ATH ROY LANE, GROUND FLOOR, KOLKATKA- 700 007 2. /RESPONDENT-ITO WARD-9(2), AAYAKAR BHAWNA, P-7, CHO WRINGHEE SQ. 5 TH FL. KOL-69 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/ 3,