Brindavan Commodities Pvt. Ltd., , Kolkata V. ITO, Ward - 7(4), Kolkata , Kolkata

ITA 2453/KOL/2017

• Counselvise Citation: [2021] 109 COUNSELVISE.COM (IT) 7202 (ITAT-KOLKATA)
• Duration Of Justice: 3 year(s) 1 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-01-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 01-12-2020
• Assessment Year: 2009-2010
• Appeal Filed On: 12-12-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: MANISH KANAJIA
• Assessee Lawyers: VINOD KUMAR JAIN
• Keywords: Unexplained cash credit
• Section: 22; 68

Judgement Text

ITA NO. 2453/KOL/2017 ASSESSMENT YEAR: 2009-2010 BRINDAVAN COMMODITIES PVT. LIMITED 1 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA C BENCH, KOLKATA BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER & SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER I.T.A. NO. 2453/KOL/2017 ASSESSMENT YEAR: 2009-2010 BRINDAVAN COMMODITIES PVT. LIMITED,................ .............................APPELLANT C/O. RSVPC & COMPANY, 41A, A.J.C. BOSE ROAD, SUITE NO. 613, 6 TH FLOOR, KOLKATA-700017 [PAN:AADCB3837E] -VS.- INCOME TAX OFFICER,.............................,.. .............................................RESPON DENT WARD-7(4), KOLKATA, P-7, CHOWRINGHEE SQUARE, AAYAKAR BHAVAN, KOLKATA-700069 APPEARANCES BY: SHRI VINOD KUMAR JAIN, FCA, FOR THE APPELLANT SHRI MANISH KANAJIA, CIT, FOR THE RESPONDEN T DATE OF CONCLUDING THE HEARING : DECEMBER 01, 2020 DATE OF PRONOUNCING THE ORDER : JANUARY 22, 2021 O R D E R PER SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER :- THE ASSESSEES APPEAL FOR ASSESSMENT YEAR 2009-10, ARISES AGAINST THE LD. COMMISSIONER OF INCOME TAX (APPEALS)-16, KO LKATAS ORDER DATED 31.01.2017 PASSED IN THE CASE NO. 620/CIT(A)-16/KOL /2015-16/W-7(4), INVOLVING PROCEEDINGS UNDER SECTION 147/263/143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. ITA NO. 2453/KOL/2017 ASSESSMENT YEAR: 2009-2010 BRINDAVAN COMMODITIES PVT. LIMITED 2 2. THE ASSESSEES FIRST AND FOREMOST GRIEVANCE SEEK S TO REVERSE BOTH THE LOWER AUTHORITIES ACTION ADDING ITS SHARE CAPIT AL/PRFEMIUM OF RS.15,45,15,000/- AS UNEXPLAINED CASH CREDITS U/S 6 8 IN THE COURSE OF ASSESSMENT AND AFFIRMED IN THE LOWER APPELLATE PROC EEDINGS. IT IS VEHEMENTLY SUBMITTED THAT THE ASSESSING OFFICER ERR ED IN MAKING ADDITION OF RS.15,45,15,000/- IN THE ASSESSMENT IN QUESTION FRAMED ON 31.03.2014 AND THAT THE CIT(A)S ORDER; PASSED EX PARTE, HAS A LSO NOT DEALT WITH THE ISSUE(S) ON MERITS IN THE LIGHT OF SECTION 250(6) O F THE ACT REQUIRING FRAMING OF THE POINTS OF DETERMINATION FOLLOWED BY A DETAILED ADJUDICATION. 3. LD. CIT(D.R.) AT THIS STAGE INVITED OUR ATTENTIO N TO PARA 4 AT PAGE 2 IN THE CIT(A)S ORDER THAT HE HAD DULY SENT THE COR RESPONDING NOTICE(S) OF HEARING DATED 24.08.2016, 10.05.2016 AND 02.03.2016 TO THE ASSESSEE. THE FACT HOWEVER REMAINS THAT NONE OF THE SAID HEAR ING NOTICES HAS BEEN SERVED ON THE ASSESSEE AS IT IS CLEAR FROM THE CORR ESPONDING LOWER APPELLATE OBSERVATION(S). WE, THEREFORE, DEEM IT AP PROPRIATE IN THIS FACTUAL BACKDROP TO RESTORE THE ISSUE BACK TO THE F ILE OF CIT(A) FOR FRESH ADJUDICATION AS PER LAW ON MERITS WITHIN THREE EFFE CTIVE OPPORTUNITIES OF HEARING. THE ASSESSEE SHALL ITSELF APPEAR BEFORE TH E CIT(A) ON OR BEFORE 31.08.2021 ALONG WITH A COPY OF THIS ORDER TO PROVE THE GENUINENESS AS WELL AS CREDITWORTHINESS OF ITS INVESTORS CONCERNED . 4. THE ASSESSEES APPEAL IS ALLOWED FOR STATISTICAL PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON JANUARY 22, 2 021. SD/- SD/- (J. SUDHAKAR REDDY) (SATBEER SIN GH GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER KOLKATA, THE 22 DAY OF JANUARY, 2021 ITA NO. 2453/KOL/2017 ASSESSMENT YEAR: 2009-2010 BRINDAVAN COMMODITIES PVT. LIMITED 3 COPIES TO : (1) BRINDAVAN COMMODITIES PVT. LIMITED, C/O. RSVPC & COMPANY, 41A, A.J.C. BOSE ROAD, SUITE NO. 613, 6 TH FLOOR, KOLKATA-700017 (2) INCOME TAX OFFICER, WARD-7(4), KOLKATA, P-7, CHOWRINGHEE SQUARE, AAYAKAR BHAVAN, KOLKATA-700069 (3) COMMISSIONER OF INCOME TAX (APPEALS) -16, KOL KATA; (4) COMMISSIONER OF INCOME TAX- , KOLKATA (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.