Aakansha Commercial Pvt. Ltd., , Kolkata V. ITO, Ward - 4(3), Kolkata , Kolkata

ITA 2345/KOL/2017

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 9426 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 7 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-07-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 17-11-2017
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: P
• Assessee Lawyers: AGAINST DATED PASSED
• Section: 68

Judgement Text

PAGE | 1 IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH B, KOLKATA BEFORE SH. J.S.REDDY, ACCOUNTANT MEMBER & SH.S.S.VISWANETHRA RAVI, JUDICIAL MEMBER ITA NO.2345/KOL/2017 (ASSESSMENT YEAR-2012-13) ORDER PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER THIS APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER DATED 28.08.2017 PASSED BY CIT(A)-13, KOLKATA FOR AY 2012-13. 2. HEARD BOTH PARTIES AND PERUSED MATERIAL AVAILABLE ON RECORD. THE AO FOUND HUGE RECEIPT OF SECURITY PREMIUM UNDER THE HEAD SHARE CAPITAL BY THE ASSESSEE. A REQUISITION U/S 142(1)(II) WAS ISSUED TO THE ASSESSEE FOR PRODUCTION OF BOOKS OF ACCOUNTS, LEDGER, CASH BOOK, BANK BOOK, BREAK-UP OF SHAREHOLDERS FUND AND WORKINGS OF DETERMINING THE PREMIUM AMOUNT ETC. AND IT IS NOTED THAT THERE WAS NO COMPLIANCE BY THE ASSESSEE. THE AO ALSO ISSUED SUMMONS U/S 131(1) OF THE INCOME TAX ACT, 1961 (IN SHORT ACT) TO ALL THE ALLOTTEES REQUESTING THEM TO BRING BOOKS OF ACCOUNTS, STATUS OF OCCUPANCY OF REGISTERED OFFICE ADDRESS AND BANK STATEMENTS AND WE FIND NO COMPLIANCE BY THE ALLOTTEES. THE AO ADDED AN AMOUNT OF RS.4,85,89,200/- U/S 68 OF THE ACT. WE FIND NO REPRESENTATION ON BEHALF OF THE ASSESSEE IN THE FIRST APPELLATE PROCEEDINGS AS WELL. THE CONTENTION OF THE LD.AR IS THAT WHEN THERE IS NO EXAMINATION BY THE AAKANSHA COMMERCIAL PVT. LTD., C/O-D.J.SHAH & CO., KALYAN BHAVAN, 2 ELGIN ROAD, KOLKATA-700020. PAN- AACCA1493Q VS ITO, WARD-4(3), KOLKATA-700069. (APPELLANT) (RESPONDENT) APPELLANT BY SH. M.D.SHAH, AR RESPONDENT BY SH. ROBIN CHOUDHURY, ADDL. CIT, SR.DR DATE OF HEARING 11.04.2019 DATE OF PRONOUNCEMENT 05.07.2019 ITA NO.2345/KOL/2017 (ASSESSMENT YEAR-2012-13) PAGE | 2 AO IN RESPECT OF DETAILS INVOLVING THE IMPUGNED AMOUNT U/S 68 OF THE ACT PRAYED TO REMAND THE MATTER TO THE FILE OF AO FOR HIS FRESH CONSIDERATION. THE LD.DR DID NOT REPORT OBJECTION IN REMANDING THE MATTER TO THE FILE OF AO FOR HIS FRESH CONSIDERATION. TAKING INTO CONSIDERATION THE ISSUE INVOLVED AND FACTS AND CIRCUMSTANCES OF THE CASE, WE DEEM IT PROPER TO REMAND THE MATTER TO THE FILE OF AO FOR HIS FRESH CONSIDERATION. THE ASSESSEE IS LIBERTY TO FILE EVIDENCES, IF ANY, IN SUPPORT OF ITS CLAIM. THUS, GROUNDS RAISED BY THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 05.07.2019. SD/- SD/- (J.S.REDDY) (S.S.VISWANETHRA RAVI) ACCOUNANT MEMBER JUDICIAL MEMBER DATE:- 05.07.2019 *AMIT KUMAR* COPY FORWARDED TO: 1. APPELLANT- AAKANSHA COMMERCIAL PVT. LTD., C/O-D.J.SHAH & CO., KALYAN BHAVAN, 2 ELGIN ROAD, KOLKATA-700020. 2. RESPONDENT- ITO, WARD-4(3), KOLKATA-700069. 3. CIT-KOLKATA 4. CIT(APPEALS)-KOLKATA 5. DR: ITAT -KOLKATA BENCHES BY ORDER AR/H.O.O ITAT, KOLKATA