M/s Chariot Agency (P) Ltd., Kolkata V. ITO, WARD - 6(1), KOLKATA, Kolkata

ITA 2476/KOL/2017

• Counselvise Citation: [2018] 118 COUNSELVISE.COM (IT) 8895 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-12-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 18-12-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ROBIN CHOUDHUR Y
• Assessee Lawyers: S M SURANA
• 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 SHRI, M. BALAGANESH, ACCOUNTANT MEMBER ITA NO. 2476 / KOL / 20 17 ASSESSMENT YEAR :2009-10 M/S CHAROIT AGENCY (P) LTD., DASHADRONE, GROUND FLOOR, DOWARIPARA, P.O. R. GOPLAPURA, P.BAGUIHATI, KOLKATA-700136 [ PAN NO.AADCC 5568 P ] V/S . INCOME TAX OFFICER, WARD-6(1), AAYAKAR BHAWAN,P-7, CHOWRINGHEE SQUARE, 6 TH FLOOR, KOLKATA-69 /APPELLANT .. / RESPONDENT /BY APPELLANT SHRI S.M. SURANA, ADVOCATE /BY RESPONDENT SHRI ROBIN CHOUDHURY, ADDL. CIT-DR /DATE OF HEARING 03-12-2018 /DATE OF PRONOUNCEMENT 26-12-2018 / O R D E R PER S.S.GODARA, JUDICIAL MEMBER:- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2009-10 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-23, KOLKATAS ORDER DATED 20.03.2017 PASSED IN CASE NO.148/CIT(A)-23/W-6(1)/16-17 INVOLV ING PROCEEDINGS U/S 143(3) R.W.S. 144 R.W.S. 147 RW.S. 263 OF THE INCOME TAX A CT, 1961; IN SHORT THE ACT. HEARD BOTH THE SIDES. CASE FILE PERUSED. 2. THIS ASSESSEES SOLE SUBSTANTIVE GROUND RAISED I N THE INSTANT APPEAL CHALLENGES BOTH THE LOWER AUTHORITIES ACTION TREAT ING ITS SHARE APPLICATION / PREMIUM AMOUNTING TO 5,86,15,000/- TO BE ITS UNEXPLAINED CASH CREDITS U/ S 68 OF THE ACT. WE NOTICE AT THE OUTSET THAT THE CIT(A) HAS PASSED HIS LOWER APPELLATE ORDER EX PARTE AGAINST THE ASSESSEE WHILST AFFIRMING THE ASSESSING OFFICERS ACTION MAKING THE IMPUGNED ADDITION. IT TRANSPIRES DURING THE COURSE OF HEARING THAT CIT(A) HAD FAILED TO SERVE THE RELEVANT HEARING NOTICE AT THE FIRST INST ANCE. HE THEN DEPUTED HIS OFFICE ITA NO.2476/KOL/2017 ASSESSMENT YEAR: 2009-10 M/S CHAROIT AGENCY (P) LTD. VS. ITO WARD-6(1 ) KOL. PAGE 2 INSPECTOR WHO REPORTED THAT THE ASSESSEES OFFICE C OULD NOT BE LOCATED FOR THE PURPOSE OF AFFECTING SERVICE OF HEARING NOTICE. LEA RNED ADDL. CIT-DR VEHEMENTLY CONTENDS DURING THE COURSE OF HEARING THAT ASSESSEE S PREMISES COULD NOT BE LOCATED AT THE GIVEN ADDRESS THAT FORMS THE PRECISE REASON FOR THE CIT(A) TO AFFIRM THE ASSESSMENT FINDINGS. WE FIND NO MERIT IN REVENUES ABOVE ARGUMENTS. IT EMERGES FROM THE CIT(A)S OPERATIVE PART THAT HE HAS SIMPLY NOT DISCUSSED MERITS OF THE ISSUE FOLLOWED BY DETAILED ADJUDICATION AS CONTEMPLATED U /S.250(6) OF THE ACT. COUPLED WITH, WE FIND THAT THE ASSESSEES ADDRESS HAS REMAI NED THE SAME AS THROUGHOUT RIGHT FROM AS TILL THE INSTANT SECOND APPELLATE PROCEEDIN GS. THE ASSESSING OFFICER HAD SUCCESSFULLY SERVED THE RELEVANT HEARING NOTICE ON THE VERY ADDRESS DURING THE COURSE OF ASSESSMENT. WE THEREFORE OBSERVE IN THESE PECULIAR FACTS AND CIRCUMSTANCES THAT ASSESSEE DESERVES ONE MORE INNIN GS BEFORE THE CIT(A). WE THEREFORE RESTORE THE INSTANT APPEAL BACK TO THE CI T(A) FOR AFRESH ADJUDICATION AS PER LAW. IT IS MADE CLEAR THAT ASSESSEE SHALL ITSELF PU T IN APPEARANCE BEFORE THE CIT(A) WITHIN EIGHT WEEKS OF RECEIVING THE COPY OF OUR INS TANT ORDER. THE CIT(A) SHALL THEREAFTER GRANT THREE EFFECTIVE OPPORTUNITIES OF H EARING TO THE ASSESSEE FOR PRESENTING ITS CASE AT HIS OWN RISK AND RESPONSIBIL ITY. 3. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES IN ABOVE TERMS ORDER PRONOUNCED IN THE OPEN COURT 26/12/201 8 SD/- SD/- ( %) (' %) (M.BALAGANESH) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) KOLKATA, *DKP, SR.P.S (- / 12 /201 8 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-M/S CHAROIT AGENCY (P) LTD., DASHADRONE, GR OUND FLOOR, DOWARIPARA P.O. R. GOPLAPUR A, P. BAGUIHATI, KOLKATA-700136 2. /RESPONDENT-ITO WARD-6(1), P-7, CHOWRINGHEE SQ. 6 TH FLOOR, 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,