Survi Rubber Pvt. Ltd., , Kolkata V. ITO, Ward - 1(4) , Kolkata

ITA 2310/KOL/2018

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 7531 (ITAT-KOLKATA)
• Duration Of Justice: 8 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-07-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 03-07-2019
• Assessment Year: 2012-2013
• Appeal Filed On: 09-11-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: AGAINST DATED PASSED
• Keywords: Unexplained cash credit

Judgement Text

PAGE | 1 IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH B, KOLKATA BEFORE SH. P.M.JAGTAP, VICE PRESIDENT & SH.S.S.VISWANETHRA RAVI, JUDICIAL MEMBER ITA NO.2310/KOL/2018 (ASSESSMENT YEAR-2012-13) ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER THIS APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER DATED 25.08.2018 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS)-1, KOLKATA [HEREINAFTER CIT(A)] FOR AY 2012-13 WHEREIN HE CONFIRMED THE ORDER OF AO EX-PARTE OF ASSESSEE. 2. HEARD BOTH PARTIES AND PERUSED THE MATERIALS AVAILABLE ON RECORD. 3. IT IS NOTED THAT THE ISSUE IS RELATING TO SHARE CAPITAL AND PREMIUM AND FOR NON-COMPLIANCE, THE AO ADDED AN AMOUNT OF RS. 1,41,00,000/- UNDER THE HEAD UNEXPLAINED CASH CREDIT. IT IS ALSO NOTED THAT NO COMPLIANCES WERE MADE BEFORE THE CIT(A). THE CONTENTION OF THE LD. AR IS THAT THE CIT(A) HAS GIVEN ONLY ONE OPPORTUNITY AND THE NON-APPEARANCE BEFORE THE CIT(A) IS NOT DELIBERATE. FURTHER, HE PRAYED TO REMAND THE MATTER TO THE FILE OF AO TO EXPLAIN THE IDENTITY, CREDIT WORTHINESS AND GENUINENESS OF TRANSACTIONS RELATING TO THE ADDITION MADE BY THE AO. FURTHER, HE HAS UNDERTAKEN TO PRODUCE ALL THE DETAILS BEFORE THE AO IF THIS TRIBUNAL PLEASES TO REMAND THE MATTER TO THE FILE OF THE SURVI RUBBER PVT.LTD. 167/4 LENIN SARANI, 2 ND FLOOR, ROOM NO.-10, KOLKATA- 700072. PAN-AAMCS9818D VS INCOME TAX OFFICER WARD- 1(4), KOLKATA. (APPELLANT) (RESPONDENT) APPELLANT BY SH. MANISH TIWARI , AR RESPONDENT BY SH.C.J.SINGH, JCIT, SR.DR DATE OF HEARING 03.07.2019 DATE OF PRONOUNCEMENT 26.07.2019 ITA NO.2310/KOL/2018 (ASSESSMENT YEAR-2012-13) PAGE | 2 AO. THE LD. DR DID NOT REPORT OBJECTION IN REMANDING THE MATTER TO THE FILE OF AO FOR HIS FRESH CONSIDERATION. THEREFORE, TAKING INTO CONSIDERATION THE FACTS AND CIRCUMSTANCES OF THE CASE, THE SUBMISSIONS OF LD. AR AND DR, WE DEEM IT PROPER TO REMAND THE MATTER TO THE FILE OF AO FOR HIS FRESH CONSIDERATION. THE ASSESSEE IS AT LIBERTY TO FILE EVIDENCES, IF ANY, IN SUPPORT OF ITS CLAIM. THEREFORE, GROUNDS RAISED BY THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES. 4. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 26.07.2019. SD/- SD/- (P.M.JAGTAP) (S.S.VISWANETHRA RAVI) VICE PRESIDENT JUDICIAL MEMBER DATE:- 26.07.2019 BIDHAN COPY FORWARDED TO: 1. APPELLANT- SURVI RUBBER PVT.LTD., 167/4 LENIN SARANI, 2ND FLOOR, ROOM NO.-10, KOLKATA- 700072. 2. RESPONDENT- ITO, WARD- 1(4), KOLKATA. 3. CIT-KOLKATA 4. CIT(APPEALS)-1, KOLKATA 5. DR: ITAT -KOLKATA BENCHES BY ORDER AR/H.O.O ITAT, KOLKATA