Dayarani Plantation Industries P. Ltd., Kolkata V. ITO, Ward - 7(2), Kolkata, Kolkata

ITA 395/KOL/2010

• Counselvise Citation: [2010] 136 COUNSELVISE.COM (IT) 2683 (ITAT-KOLKATA)
• Duration Of Justice: 1 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-04-2010
• Appeal Filed By: Assessee
• Bench Allotted: A
• Next Hearing Date: 07-04-2010
• Assessment Year: 1996-1997
• Appeal Filed On: 22-02-2010
• Court: TRIBUNAL
• Section: 234B; 68

Judgement Text

, , , IN THE INCOME TAX APPELLATE TRIBUNAL, BENCH - A , KOLKATA ( ) BEFORE . . , SHRI B.R.MITTAL, JUDICIAL MEMBER. /AND . . , , SHRI C.D. RAO, ACCOUNTANT ME MBER . / I.T.A.NO. 395 /KOL/2010 / ASSESSMENT YEAR 1996 - 97 DAYARANI PLANTATIN INDUSTRIES P. LTD., SUITE NO.10, 5 TH FLOOR, 8 CAMAC ST. KOLKATA 700 017 AACCD 1517 C - - - VERSUS - . ITO, WARD 7(2), KOLKATA. ( / A PPELLANT ) ( / RESPONDENT ) / FOR THE APPELLANT : NONE / FOR THE RESPONDENT : / SHRI VINAY KUMAR , DR / ORDER . . , SHRI B.R.MITTAL, JUDICIAL MEMBER. THE ASSESSEE HAS FILED THIS APP EAL AGAINST EXPARTE ORDER OF THE LEARNED COMMISSIONER OF INCOME - TAX (APPEALS) DT.17.11.2009 FOR THE ASSESSMENT YEAR 1996 - 97 ON THE FOLLOWING GROUNDS. 01. THAT THE LD. CIT (A) WAS NOT JUSTIFIED IN DISMISSING OUR APPEAL WITHOUT CONSIDERING MERITS OF THE CAS E AS NOTICES WERE NOT PROPERLY SERVED ON THE ASSESSEE AND SO RETAINED THE ORDER INTACT OF THE LD. ITO. 02. THAT ON THE FACTS AND IN THE CIRCUMSTANCES OF THE CASE THE LD. I.T.O. ERRED IN ADDING BACK U/S 68 THE FOLLOWING AMOUNTS, ALTHOUGH THE AMOUNTS ARE FU LLY EXPLAINED, VOUCHED AND VERIFIABLE. A. UNSECURED LOANS RS. 3,06,70,000.00 B. SHARE APPLICATION MONEY RS. 7,75,000.00 C. SUNDRY CREDITORS RS. 61,80,000.00 03. THAT THE LD. I.T.O. ERRED IN CHARGING TAX ON ADDITIONS MADE U/S 68 ERRONEOUSLY AND FURTHER CH ARGING INTEREST U/S 234A OF RS. 55,37,333.00 AND INTEREST U/S 234B OF RS. 2,87,24,906.00. 04. THAT THE REASSESSMENT ORDER IS ARBITRARY, HYPOTHETICAL, CONTRARY TO FACTS ON RECORDS, BAD IN LAW AND LIABLE TO BE SET ASIDE SUMMARILY. / I.T.A.NO. 395 /KOL/2010 2 05. THAT THE ASSESSEE CRAV ES LEAVE TO ADD AND/OR ALTER ALL OR ANY OF THE GROUNDS OF THE APPEAL. 2. THERE WAS AN ADJOURNMENT APPLICATION ON BEHALF OF THE ASSESSEE. CONSIDERING THE FACT THAT THIS APPEAL HAS ARISEN OUT OF THE ORDER PASSED U/S.144/254 OF THE INCOME - TAX ACT,1961 AND A LSO THE FACT THAT THE ASSESSEE HAS CONTENDED IN GROUND NO.1 THAT THE LEARNED CIT(A) HAS DISMISSED THE APPEAL WITHOUT GIVING DUE OPPORTUNITY OF HEARING TO THE ASSESSEE, WE HAVE REJECTED THE ADJOURNMENT APPLICATION. THE LEARNED DR SUBMITTED THAT HE HAS NO OB JECTION IF THE MATTER IS RESTORED TO THE LEARNED CIT(A) TO DECIDE THE APPEAL AFRESH BY A SPEAKING ORDER AFTER GIVING DUE OPPORTUNITY OF HEARING TO THE ASSESSEE. 3. IN THE INTEREST OF JUSTICE, WE SET ASIDE THE IMPUGNED ORDER OF THE LEARNED CIT(A) AND RESTOR E THE APPEAL TO THE LEARNED CIT(A) WITH A DIRECTION THAT HE WILL DECIDE THE APPEAL AFRESH AFTER GIVING DUE OPPORTUNITY OF HEARING TO THE ASSESSEE AND CONSIDERING SUCH EVIDENCE AS MAY BE PLACED BEFORE HIM. WE MAY STATE THAT IF THE ASSESSEE AGAIN FAILS TO CO OPERATE, THE LEARNED CIT(A) WILL BE AT LIBERTY TO DECIDE THE APPEAL ON MERITS ON THE BASIS OF THE MATERIAL BEFORE HIM. HENCE, GROUND NO.12 IS ALLOWED FOR STATISTICAL PURPOSES. 4. SINCE WE HAVE RESTORED THE APPEAL TO THE LEARNED CIT(A) FOR HIS FRESH ADJUDIC ATION, WE DO NOT CONSIDER PRUDENT TO DECIDE THE OTHER GROUNDS OF APPEAL TAKEN BY THE ASSESSEE TO DISPUTE THE ADDITIONS MADE BY THE ASSESSING OFFICER AND CONFIRMED BY THE LEARNED CIT(A). 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTIC AL PURPOSES. THIS ORDER IS PRONOUNCED IN OPEN COURT ON DT. 07.04.2010 SD/ - SD/ - ( . . ) (C.D. RAO), ACCOUNTANT MEMBER ( . . ), ( B.R.MITTAL ), JUDICIAL MEMBER ( ) DATE : 07.04.2010 ( /) H.K.PADHEE / SNR.PRIVATE SECRETARY. / I.T.A.NO. 395 /KOL/2010 3 - COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT : DAYARANI PLANTATIN INDUSTRIES P. LTD., S UITE NO.10, 5 TH FLOOR, 8 CAMAC ST. KOLKATA 700 017 2 / THE RESPONDENT - ITO, WARD 7(2), KOLKATA. 3. / THE CIT, 4. ( )/ THE CIT(A), 5. / DR, KOLKATA BENCH 6. GUARD FILE . / TRUE COPY , / BY ORDER , / DEPUTY REGISTRAR .