New Punjabi Samrat, Kolkata V. ITO, Ward - 49(2), Kolkata, Kolkata

ITA 323/KOL/2012

• Counselvise Citation: 32323514 RSA 2012
• Duration Of Justice: 2 year(s) 5 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-07-2014
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Assessment Year: 2008-2009
• Appeal Filed On: 27-02-2012
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: MIRAJ D. SHAH

Judgement Text

I.T.A. NO. 323/KOL./2012 ASSESSMENT YEAR: 2008-2009 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA C BENCH, KOLKATA BEFORE SHRI P.K. BANSAL (ACCOUNTANT MEMBER), AND SHRI GEORGE MATHAN (JUDICIAL MEMBER) I.T.A. NO. 323/KOL./ 2012 ASSESSMENT YEAR : 2008-2009 NEW PUNJABI SAMRAT,................................ ..............................APPELLANT C/O. D.J. SHAH & CO., KALYAN BHAVAN, 2, ELGIN ROAD, KOLKATA-700 020 [PAN : AAEFN 2187 P] -VS.- INCOME TAX OFFICER,................................ .................................RESPONDENT WARD-49(2), KOLKATA, UTTARAPAN BUILDING, 2 ND FLOOR, ULTADANGA, KOLKATA APPEARANCES BY: SHRI MIRAJ D. SHAH, A.R., FOR THE ASSESSEE SHRI P.K. CHAKRABORTY, JCIT, SR. D.R., FOR THE DEPA RTMENT DATE OF CONCLUDING THE HEARING : JULY 31, 2014 DATE OF PRONOUNCING THE ORDER : JULY 31, 2014 O R D E R PER GEORGE MATHAN: THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST TH E ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-XXXII, KOLKATA IN APPEAL NO.115/CIT(A)-XXXII/10-11/49(2)/KOL. DATED 28.11.20 11 FOR THE ASSESSMENT YEAR 2008-09. 2. SHRI MIRAJ D. SHAH, ADVOCATE, REPRESENTED ON BEH ALF OF THE ASSESSEE AND SHRI P.K. CHAKRABORTY, LD. JCIT, SR. D.R., REPR ESENTED ON BEHALF OF THE REVENUE. 3. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD. A.R. THAT THE LD. CIT(APPEALS) HAD NOT ADJUDICATED THE GROUNDS AS RAI SED BEFORE HIM IN I.T.A. NO. 323/KOL./2012 ASSESSMENT YEAR: 2008-2009 PAGE 2 OF 3 FORM 35. IT WAS THE SUBMISSION THAT THE GROUNDS 2 & 3 OF THE ASSESSEES APPEAL HAVE NOT BEEN ADJUDICATED THE ISSUE RELATING TO THE ADDITION MADE BY THE ASSESSING OFFICER REPRESENTING THE EXCESS ST OCK WAS LIABLE TO BE RESTORED TO THE FILE OF THE LD. CIT(APPEALS) FOR RE -ADJUDICATION. LD. A.R. DID NOT PRESS GROUNDS 1, 4, 5 & 6 OF THE ASSESSEES APPEAL. 4. IN REPLY, LD. D.R. VEHEMENTLY SUPPORTED THE ORDE R OF THE ASSESSING OFFICER AND LD. CIT(APPEALS). 5. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS. AS IT IS NOTICED THAT THE LD. CIT(APPEALS) HAS NOT ADJUDICATED THE GROUND IN RESPECT OF THE ADDITION REPRESENTING THE EXCESS STOCK AS PER THE STATEMENT FILED TO THE BANK, THE ISSUES IN GROUNDS 2 & 3 OF THE ASSESSEES APPEAL AR E RESTORED TO THE FILE OF THE LD. CIT(APPEALS) FOR ADJUDICATION AFTER GRANTIN G THE ASSESEE ADEQUATE OPPORTUNITY TO SUBSTANTIATE ITS CASE. IN RESPECT OF GROUNDS 1, 4, 5 & 6, AS THE SAME HAS NOT BEEN PRESSED, THE SAME ARE DISMISSED. 6. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS PAR TLY ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 31 ST JULY, 2014. SD/- SD/- P.K. BANSAL GEORGE MATHAN (ACCOUNTANT MEMBER) (JU DICIAL MEMBER) KOLKATA, THE 31 ST DAY OF JULY, 2014 COPIES TO : (1) NEW PUNJABI SAMRAT, C/O. D.J. SHAH & CO., KALYAN BHAVAN, 2, ELGIN ROAD, KOLKATA-700 020 (2) INCOME TAX OFFICER, WARD-49(2), KOLKATA, UTTARAPAN BUILDING, 2 ND FLOOR, ULTADANGA, KOLKATA I.T.A. NO. 323/KOL./2012 ASSESSMENT YEAR: 2008-2009 PAGE 3 OF 3 (3) COMMISSIONER OF INCOME-TAX (APPEALS) (4) COMMISSIONER OF INCOME TAX (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.