Supriya Enterprises, Manjeri, Malappuram V. The ITO, Tirur

ITA 301/COCH/2020

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 6722 (ITAT-COCHIN)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-03-2022
• Appeal Filed By: Assessee
• Order Result: AllowedDismissed
• Bench Allotted: DB
• Next Hearing Date: 08-11-2022
• Assessment Year: 2015-2016
• Appeal Filed On: 23-09-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHANTHAM BOSE

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri George Mathan, JM & Shri M.Balaganesh, AM ITA No. 301/Coch/2020 (Assessment Year: 2015-16) Supriya Enterprises, 16/263, Calicut Road, Manjeri, Malappuram Dt. Kerala Vs The ITO, Tirur PAN : ABDFS9594F (Appellant) (Respondent) Appellant by : Sri Shaji Poulose, CA Respondent by : Sri Shantham Bose, CIT-DR Date of Hearing : 17.03.2022 Date of Pronouncement : 17.03.2022 REMAND ORDER PER BENCH: This is an appeal filed by the assessee against the order of the Pr.CIT, Kozhikode, u/s.263 of the Income Tax Act, 1961 (Act), dated 20-03-2020 for the AY.2015-16. 2. Sri Shaji Poulose, CA appeared on behalf of the assessee and Sri Shantham Bose, CIT-DR appeared on behalf of Revenue. 3. It was submitted by the Ld.AR that the original assessment was completed u/s.143(3), dt.12-12-2017 by limiting the cash in hand, in the hands of the assessee at reduced figure. It was the submission that the said assessment order was the subject matter of revision order u/s.263 of the Act, the impugned order wherein the show cause notice was issued to the assessee on 20-02-2020, the assessee’s representative had appeared before the Ld.Pr.CIT on 13-03-2020 and made submissions. Ld.Pr.CIT without considering the submissions and on the ground that no further evidence had been produced in the form of confirmation letters from the Sundry ITA No.301/Coch/2020 :- 2 -: Debtors, directed the AO to assess Rs.29,32,287/- as un-explained cash credits u/s.68 of the Act. These, in fact are the cash receipts from the debtors in respect of credit sales. The Ld.AR has now placed the confirmation letters before us. He has requested for admission of the same as additional evidence because, he was unable to produce the same before the Ld.Pr.CIT on account of shortage of time. It was the submission that the Ld.Pr.CIT had passed the order u/s.263 of the Act on 20-03-2020. 4. We have considered the rival submissions. The additional evidence produced and the explanation for the same are considered and we find that the assessee was prevented by sufficient cause in not producing the evidence before the Ld.CIT within the short time that had been provided to him. In these circumstances, a remand report is being called-for from the office of the Pr.CIT. The evidences as produced before this Tribunal is to be forwarded along with this remand order. The assessee is at liberty to produce any further evidence, he may require before the Pr.CIT in the remand proceedings. The Ld.Pr.CIT is at liberty to examine the same in accordance with law. The remand report is to be received in this Tribunal within three months from the end of this month i.e., on or before 30-06-2022. Accordingly directed. In the event that the assessee does not co-operate the remand proceedings, liberty is granted to the Pr.CIT to draw inference in accordance with law. Dictated and pronounced in the open court on 17 th March, 2022 Sd/- Sd/- (M. Balaganesh) (George Mathan) Accountant Member Judicial Member Cochin, Dated: 17 th March, 2022 TNMM ITA No.301/Coch/2020 :- 3 -: Copy to: 1. The Appellant 2. The Respondent 3. The Pr.CIT-Kozhikode 4. The DR, ITAT, Cochin 5. Guard File By Order //True Copy// Assistant Registrar ITAT, Cochin