Diksha Timber Private Limited, Kolkata V. DCIT, Circle - 9(1), Kolkata , Kolkata

ITA 2272/KOL/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 7005 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 5 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-04-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2012-2013
• Appeal Filed On: 03-11-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SITAL DAS CITSRDR
• Keywords: Unexplained cash credit
• Section: 143(3); 68

Judgement Text

, B , IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH B KOLKATA BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. A.L. SAINI, ACCOUNTANT MEMBER ITA NO. 2272 / KOL / 20 17 ASSESSMENT YEAR :2012-13 DIKSHA TIMBER PVT. LTD. 11,SHAMBHU CHATTERJEE STREET, KOLKATA-007 [ PAN NO.AACCD 1674 L ] V/S . DCIT, CIRCLE-9(1), P-7, CHOWRINGHEE SQUARE, KOLKATA-700069 /APPELLANT .. / RESPONDENT /BY APPELLANT NONE /BY RESPONDENT SHRI SITAL DAS, ADDL. CIT-SR-DR /DATE OF HEARING 18-04-2019 /DATE OF PRONOUNCEMENT 26-04-2019 / 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)-16 KOLKATAS O RDER DATED 04.08.2017 PASSED IN CASE NO.642/CIT(A)-16/KOL/2014-15/C-9(1), INVOLV ING PROCEEDINGS U/S 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. CASE CALLED TWICE. NONE APPEARS AT THE ASSESSEES B EHEST. IT IS ACCORDINGLY PROCEEDED EX PARTE AGAINST THE ASSESSEE. 2. IT TRANSPIRES AT THE OUTSET THAT THE ASSESSEES APPEAL SUFFERS FROM 90 DAYS DELAY IN FILING. IT HAS FILED ITS CONDONATON PETITI ON DATED 02.11.2017 STATING REASONS THEREOF TO LACK OF COMMUNICATION BEFORE THE AUDITOR S OFFICE AND THE ARGUING COUNSEL. THE REVENUE IS IN FAIR ENOUGH IN NOT DISPSUTING COR RECTNESS OF THESE CONDONATION AVERMENTS DURING THE COURSE OF HEARING. WE ACCORDIN GLY CONDONE THE IMPUGNED DELAY OF 90 DAYS AS NEITHER INTENTIONALLY NOR DELIB ERATE GOING BY THE PRECEDING AVERMENTS. THE CASE IS TAKEN UP FOR ADJUDICATION ON MERITS. ITA NO.2272/KOL/2017 A.Y. 2012-13 DIKSHA TIMBER PVT. LTD. VS. DCIT, C IR-9(1), KOL. PAGE 2 3. THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE CHALLE NGES CORRECTNESS BOTH THE LOWER AUTHORITIES ACTION HOLDING ITS SHARE CAPITAL AMOUNTING TO 1.30 LAC RECEIVED FROM ITS SISTER CONCERN M/S RIDHI SIDHI VINCOM (P) LTD. TO BE UNEXPLAINED CASH CREDITS U/S 68 OF THE ACT. THE REVENUE INVITES OUR ATTENTION TO CIT(A)S ORDER UNDER CHALLENGE AND MORE PARTICULARLY PARA 3 TO 6 THEREIN CONTAINING DETAILED DISCUSSION WHILST AFFIRMING THE IMPUGNED ADDITION. 4. WE FIND NO REASON TO EXPRESS OUR CONCURRENCE WIT H THE CIT(A)S ORDER IN ISSUE. IT EMERGES FROM A PERUSAL OF THE SAID LOWER APPELLATE FINDINGS THAT CIT(A) HAS NOWHERE DISCUSSED THE RELEVANT FACTS ALONGWITH THE ASSESSEES CORRESPONDING DETAILED EVIDENCE IN SUPPORT OF ITS IMPUGNED SHARE CAPITAL RECEIVED FROM ITS SISTER CONCERN M/S RIDHI SIDHI VINCOM (P) LTD.. WE MAKE IT CLEAR THAT THE ASSESSEE HAD FILED A DETAILED PAPER BOOK IN SUPPORT OF ITS EXPLA NATION BEFORE THE CIT(A) SEC. 250(6) OF THE ACT ENVISAGES THAT THE CIT(A)S POINTS OF DE TERMINATION FOLLOWED BY A DETAILED ADJUDICATION OF ALL THE ISSUES RAISED IN AN ASSESSE ES APPEAL. LEARNED DEPARTMENTAL REPRESENTATIVE FAILS TO REBUT THIS CRUCIAL FACT THA T THERE IS NO SUCH ADJUDICATION IN LOWER APPELLATE FINDINGS UNDER CHALLENGE. WE THEREF ORE RESTORE THE INSTANT LIS BACK TO CIT(A) FOR AFRESH ADJUDICATION AS PER LAW WITHIN T HREE EFFECTIVE OPPORTUNITIES OF HEARING TO THE TAXPAYER. 5. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT 26 /04/2019 SD/- SD/- ( %) (' %) (DR.A.L. SAINI) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) KOLKATA, *DKP, SR.P.S (- 26 / 04 /201 9 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-DIKSHA TIMBER PVT. LTD. 11, SHAMBBHU CHATTE RJEE STREET KOLKATA-700007 2. /RESPONDENT-DCIT, CIR-9(1), P-7, CHOWRINGHEE SQUARE. KOLKATA-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,