M/S. Kingfisher Suppliers Pvt. Ltd., Kolkata V. ITO, Ward - 4(4), Kolkata, Kolkata

ITA 365/KOL/2022

AI Insights

The case involves M/s Kingfisher Suppliers Pvt. Ltd, the appellant, contesting an order from the National Faceless Appeal Centre (CIT(A)) which added Rs.72,00,000 as unexplained cash credit under section 68 of the Income Tax Act, 1961. The appellant argued that they did not receive any such sum from Shivanand Dealtrade Pvt. Ltd, which was ignored by the Assessing Officer. Due to the absence of the appellant's counsel during the appellate proceedings, the matter was not adequately represented. The Tribunal decided to set aside the CIT(A)'s order and remand the case for a fresh examination.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 128255 (ITAT-KOLKATA)
• Duration Of Justice: 8 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-02-2023
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: B
• Next Hearing Date: 18-01-2023
• Assessment Year: 2012-2013
• Appeal Filed On: 21-06-2022
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Set aside
• Section: 68; 250

Judgement Text

आयकर अपीलȣय अͬधकरण, कोलकाता पीठ ‘बी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH KOLKATA Įी संजय गग[, ÛयाǓयक सदèय एवं Įी मनीष बोरड, लेखा सदèय के सम¢ Before Shri Sanjay Garg, Judicial Member and Dr. Manish Borad, Accountant Member I.T.A No.365/Kol/2022 Assessment year: 2012-13 M/s Kingfisher Suppliers Pvt. Ltd.............................................................Appellant Flat-BL-2, Haldiram Enclave, VIP Road, Kolkata-700052. [PAN: AADCK9597N] vs. ITO, Ward-4(4), Kolkata.........................................................................Respondent Appearances by: Shri Rajeev Kumar, AR, appeared on behalf of the appellant. Shri P. P Barman, Addl. CIT-DR, appeared on behalf of the Respondent. Date of concluding the hearing : January 19, 2023 Date of pronouncing the order : February 22, 2023 आदेश / ORDER संजय गग[, ÛयाǓयक सदèय ɮवारा / Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the assessee against the order dated 26.04.2022 of the National Faceless Appeal Centre [hereinafter referred to as the ‘CIT(A)’] passed u/s 250 of the Income Tax Act, 1961 (hereinafter referred to as the ‘Act’). 2. The assessee, in this appeal, has contested the action of the lower authorities in making impugned addition of Rs.72,00,000/- in respect of unexplained money received by the assessee from one ‘Shivanand Dealtrade Pvt. Ltd.’ holding that the same to unexplained cash credit invoking the provisions of section 68 of the Act. I.T.A No.365/Kol/2022 Assessment year: 2012-13 M/s Kingfisher Suppliers Pvt. Ltd 2 3. At the outset, the ld. AR of the assessee has explained that it was submitted before the Assessing Officer that the assessee did not receive any alleged sum from Shivanand Dealtrade Pvt. Ltd. However, the Assessing Officer totally ignored the aforesaid contention of the assessee. However, during the appellate proceedings before the CIT(A), the assessee could not appear as the counsel for the assessee, Shri Naresh Kumar Agarwal had expired on July 2020 and the file of the assessee could not be traced from his office. The ld. counsel has further relied upon the bank statement of the assessee to submit that the assessee did not receive any such sum from Shivanand Dealtrade Pvt. Ltd. The ld. counsel, therefore, has submitted that the matter may be restored to the file of the CIT(A) to thoroughly examine the contention of the assessee. 4. In view of the above, the impugned order of the CIT(A) is set aside and the matter is restored to the file of CIT(A) with a direction to decide the appeal of the assessee afresh. Needless to say that the CIT(A) will give proper opportunity to the assessee to present its case and thereafter to pass a speaking order in respect of the contention 5. In the result, the appeal of the assessee is treated as allowed for statistical purposes. Kolkata, the 22 nd February, 2023. Sd/- Sd/- [डॉÈटर मनीष बोरड /Dr. Manish Borad] [संजय गग[ /Sanjay Garg] लेखा सदèय /Accountant Member ÛयाǓयक सदèय /Judicial Member Dated: 22.02.2023. RS I.T.A No.365/Kol/2022 Assessment year: 2012-13 M/s Kingfisher Suppliers Pvt. Ltd 3 Copy of the order forwarded to: 1. M/s Kingfisher Suppliers Pvt. Ltd 2. ITO, Ward-4(4), Kolkata 3. CIT(A)- 4. CIT- , 5. CIT(DR), //True copy// By order Assistant Registrar, Kolkata Benches