M/s Abhiyan Developers Pvt. Ltd., Kolkata V. I.T.O.,Ward-10(2), Kolkata

ITA 324/KOL/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 0182 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 4 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-06-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2012-2013
• Appeal Filed On: 22-02-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DHRUBOJYOTI ROY J
• Assessee Lawyers: RAVI TULSIAN
• Keywords: Unexplained cash credit; Assessment record
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH D KOLKATA BEFORE SHRI P.M.JAGTAP, VICE-PRESIDENT AND SHRI S.S.GODARA, JUDICIAL MEMBER ITA NO.324/KOL/2019 ASSESSMENT YEAR: 2012-13 M/S ABHIYAN DEVELOPERS PVT. LTD., 72/4, SHAMBHU NATH PANDIT STREET, KOLKATA-700 025 [ PAN NO.AAGCA 2974 A ] / V/S . INCOME TAX OFFICER, WARD-10(2), AAYAKAR BHAWAN, P-7, CHOWRINGHEEE SQUARE, KOLKATA-700 069 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI RAVI TULSIAN, FCA /BY RESPONDENT SHRI DHRUBOJYOTI ROY, JCIT-DR /DATE OF HEARING 11-06-2020 /DATE OF PRONOUNCEMENT 24-06-2020 /O R D E R PER S.S.GODARA, JUDICIAL MEMBER:- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2012-13 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-15, KOLKATAS ORDER DATED 13.12.2018, PASSED IN CASE NO. 132/CIT(A)-15/16-17/WD.10(2)/R&T /KOL U/S 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. CASE FILE SUGGESTS THAT THE CIT(A) HAS PASSED HI S LOWER APPELLATE ORDER EX PARE WHILST AFFIRMING THE ASSESSING OFFICERS ACTION TR EATING THE ASSESSEES SHARE CAPITAL / PREMIUM OF 3,82,20,000/- AS UNEXPLAINED CASH CREDITS. HE HOLDS IN PARA-4.1 PAGE-9 OF THE LOWER APPELLATE ORDER THAT THE ASSESSEES F IRST APPEAL ITA NO.324/KOL/2019 A.Y. 2012-13 M/S ABHIYAN DEVELOPERS PVT. LTD. VS. ITO WD-10 (2), KOL. P AGE 2 HAD BEEN FIXED FOR HEARING ON 19.03.2018, 14.09.201 8, 25.10.2018, 22.11.2018 AND 13.12.2018 AND IT FAILED TO APPEAR DESPITE HAVI NG BEEN AFFORDED SAID NUMEROUS OPPORTUNITIES. LEARNED COUNSELS CASE ON THE OTHER HAND IS THAT ASSESSEE HAD FILED ITS WRITTEN SUBMISSIONS BEFORE C IT(A) ON THE LAST DATE I.E. 13.12.2018 EXPLAINING IDENTITY, GENUINENESS AND CRE DITWORTHINESS OF THE FOUR INVESTOR PARTY(IES) NAMELY M/S MOHAN MANAGEMENT LTD , RAMESHWAR CONSULTANTS LTD., SRI SIROMANI DEALERS PVT. LTD., A ND SHYAM SUNDAR CHOUDHARY WHICH HAVE NOWHERE BEEN CONSIDERED IN THE LOWER APP ELLATE DISCUSSION. WE FIND THAT THE ASSESSEES WRITTEN SUBMISSION(S) CONT AINED THE SUPPORTIVE EVIDENCE AS WELL WHICH FORMED PART OF ASSESSMENT RECORDS. TH E ASSESSING OFFICERS CORRESPONDING ASSESSMENT FRAMED ON 20.03.2015 HAS A LSO NOT CONSIDERED THE SAME. ALL THESE CLINCHING FACTS HAVE GONE UNREBUTTE D FROM THE REVENUE SIDE. 3. AFTER GIVING OUR THOUGHTFUL CONSIDERATION TO RIV AL SUBMISSIONS AGAINST AND IN SUPPORT OF THE IMPUGNED UNEXPLAINED CASH CREDITS ADDITION, WE ARE OF THE VIEW THAT SAME DESERVES TO BE RESTORED BACK TO THE ASSESSING OFFICER SINCE THE RELEVANT EVIDENCE HAS NOT BEEN CONSIDERED IN EITHER OF THE LOWER PROCEEDINGS. WE ORDER ACCORDINGLY. THE ASSESSING OFFICER IS DIRE CTED TO EXAMINE THE ASSESSEES CASE AFRESH AS PER LAW. 4. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN OPEN COURT ON 24/06/2020 SD/- SD/- ( !) (#$ ') (P.M.JAGTAP) (S.S.GODARA) VICE PRESIDENT JUDICIAL MEMBER *DKP-SR.PS ( - 24/06/2020 / KOLKATA ITA NO.324/KOL/2019 A.Y. 2012-13 M/S ABHIYAN DEVELOPERS PVT. LTD. VS. ITO WD-10 (2), KOL. P AGE 3 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-WHITESTONE SUPPLIERS PVT. LTD., SKP HOUS E, 132A, S.P. MUKHERJEE ROAD , KOLKATA-700 026 2. /RESPONDENT-ITO WD-10(2), AAYAKAR BHAWAN, P-7, CHOW RINGHEE SQUARE, KOLKAT A-700 069 3. + . / CONCERNED CIT 4. . - / CIT (A) 5. / $$+ , + / DR, ITAT, KOLKATA 6. 3 / GUARD FILE. BY ORD ER/ , /TRUE COPY/ +,