M/s Swadist Sweets Pvt. Ltd., Howrah V. I.T.O, Wd-12(2), Kolkata

ITA 2433/KOL/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 5194 (ITAT-KOLKATA)
• Duration Of Justice: 3 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-02-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2011-2012
• Appeal Filed On: 13-11-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MRS RANU BISWAS CITSRDR
• Assessee Lawyers: SHRIS M SURANA
• Section: 201; 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.2433/KOL/2019 ASSESSMENT YEAR:2011-12 M/S SWADIST SWEETS PVT. LTD., 77 & 79, SRI ARABINDA ROAD, CRESENT PLAZA, HOWRAH-711106 [ PAN NO.AADCS 8402 L ] / V/S . INCOME TAX OFFICER, WARD-12(2), AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRIS.M.SURANA, ADVOCATE /BY RESPONDENT MRS. RANU BISWAS, ADDL. CIT-SR-DR /DATE OF HEARING 28-01-2020 /DATE OF PRONOUNCEMENT 19-02-2020 /O R D E R THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2011-12, ARISES AGAINST THE COMMISSIONER OF INCOME-TAX (APPEALS)-17, KOLKATAS ORDER DATED 17.09.2019 PASSED IN CASE NO.103/CIT(A)-17/KOL/18-19, INVOLVING PROC EEDINGS U/S. 144 R.W.S. 147 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. THE ASSESSEES SOLE SUBSTANTIVE GRIEVANCE PLEADE D IN THE INSTANT APPEAL CHALLENGES CORRECTNESS OF BOTH THE LOWER AUTHORITIE S ACTION MAKING BOGUS LOSS ADDITION OF 15,00,000/- DURING THE COURSE OF ASSESSMENT AS UPHE LD IN LOWER APPELLATE PROCEEDINGS. ITA NO.2433/KOL/2019 A.Y. 201 1-12 M/S SWADIST SWEETS PVT. LTD. VS. ITO WD-12(2) , KOL. PAGE 2 3. I HAVE GIVEN MY THOUGHTFUL CONSIDERATION TO RIVA L CONTENTIONS AGAINST AND IN SUPPORT OF THE IMPUGNED ADDITION. THERE IS NO DISPU TE THAT THE AMOUNT IN QUESTION HAS BEEN RECEIVED FROM M/S DOLPHIN SHOPPERS PVT. LTD., THROUGH BANK ACCOUNT. MRS. BISWAS STRONGLY SUPPORTED THE SAME ON THE GROUND TH AT THE ASSESSEE FAILED TO EXPLAIN SOURCE THEREOF IN THE LOWER PROCEEDINGS. I FIND NO MERIT TO CONCUR WITH THE REVENUES FOREGOING ARGUMENT. THE FACT REMAINS THAT THE ASSES SING OFFICERS ASSESSMENT ORDER DATED 23.12.2017 HAS FAILED TO INDICATE ANY CORRESP ONDING TRANSACTIONS BETWEEN ASSESSEE AND M/S DOLPHIN SHOPPERS PVT. LTD., FINALL Y CULMINATING IN THE IMPUGNED LOSS FIGURE. CASE FILE SUGGESTS THAT THE ASSESSING OFFICER HAD INITIALLY SOUGHT TO TREAT THE SUM IN QUESTION AS INCOME FROM UNDISCLOSED SOUR CES. THIS WAS LATER ADDED AS BOGUS LOSS WITHOUT ANY EVIDENCE IN SUPPORT. I THERE FORE DIRECT THE ASSESSING OFFICER TO DELETE THE IMPUGNED ADDITION OF BOGUS LOSS FOR THIS PRECISE REASON ALONE. 4. THIS ASSESSEES APPEAL IS ALLOWED. ORDER PRONOUNCED IN OPEN COURT ON 19/02/2020 SD/- (S.S. GODARA) JUDICIAL MEMBER KOLKATA, *DKP/SR.PS - 19/02/2020 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-M/S SWADIST SWEETS PVT. LTD., 77 &79, SR I ARABINDA ROAD CRESENT PLAZA, HOWRAH-711106 2. /RESPONDENT-ITO WARD-12(2), AAYAKAR BHAWAN, P-7, CH OWRINGHEE SQUARE KOLKATA-700 069 3. ' % / CONCERNED CIT 4. % - / CIT (A) 5. & ))' , ' / DR, ITAT, KOLKATA 6. + / GUARD FILE. BY ORDER/ , /TRUE COPY/ ',