RICHMOND REALTORS, BHANDUP, MUMBAI V. NATIONAL E-ASSESSMENT CENTRE, DELHI

ITA 4175/MUM/2023

• Counselvise Citation: [2024] 101 COUNSELVISE.COM (IT) 6848 (ITAT-MUMBAI)
• Duration Of Justice: 6 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-05-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 13-05-2024
• Assessment Year: 2018-2019
• Appeal Filed On: 19-11-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: HIMANSHU KUMAR
• Assessee Lawyers: DIVYESH I. SHAH
• Keywords: Unexplained cash credit
• Section: 68; 143(3); 250

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH “SMC”, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER AND SMT. RENU JAUHARI, ACCOUNTANT MEMBER ITA No.4175/M/2023 Assessment Year: 2018-19 M/s. Richmond Realtors, 1/A, Mangesh, Industrial Estate, S Samuel Marg, Subhash Nagar, Bhandup-West, Maharashtra – 400 078 PAN: AAPFR9019K Vs. National E- Assessment Centre- NFAC, Delhi (Appellant) (Respondent) Present for: Assessee by : Shri Divyesh I. Shah, A.R. Revenue by : Shri Himanshu Kumar, D.R. Date of Hearing : 14 . 05 . 2024 Date of Pronouncement : 30 . 05 . 2024 O R D E R Per : Narender Kumar Choudhry, Judicial Member: This appeal has been preferred by the assessee against the order dated 21.09.2023, impugned herein, passed by the National Faceless Appeal Center (NFAC)/ Ld. Commissioner of Income Tax (Appeals) (in short Ld. Commissioner) under section 250 of the Income Tax Act, 1961 (in short ‘the Act’) for the A.Y. 2018-19. 2. In the instant case, the Assessing Officer (AO), vide assessment order dated 19.04.2021 under section 143(3) read with ITA No.4175/M/2023 M/s. Richmond Realtors 2 section 144B of the Act, made the additions of Rs.42,00,000/- and Rs.57,375/- respectively on account of unexplained cash credit and disallowance of interest expenses under section 68 of the Act, against which the assessee preferred first appeal before the Ld. commissioner who though afforded various opportunities to the assessee by issuing notices for fixing the case for hearings, however, the assessee made no compliance and not filed any submissions/documents in support of its claim. Therefore, the Ld. Commissioner in the absence of submissions/documents decided the appeal of the assessee as ex-parte and affirmed the aforesaid additions by dismissing the appeal of the assessee. 3. We have heard the parties and perused the material available on record. The assessee neither filed any submissions/documents before the Ld. Commissioner nor demonstrated the reason for non- compliance with the notices issued by the Ld. Commissioner and therefore the Assessee does not deserve any leniency, however, considering the other aspect of the case, as in the absence of relevant submissions/documents which the assessee has failed to file, the Ld. Commissioner was unable to decide the issues involved in its right perspective and proper manner, hence for the just decision of the case and for the ends of substantial justice, we are remanding the instant case to the file of the Ld. Commissioner for decision afresh, suffice to say by affording reasonable opportunity to the assessee, to substantiate its claim. 4. We also direct the assessee to cooperate with the appellate proceedings and file the relevant submissions/documents which would be essential/required by the Ld. Commissioner for proper adjudication of the case. We clarify that in case of further default the assessee shall not be entitled for any leniency. 5. Thus, the case is remanded accordingly. ITA No.4175/M/2023 M/s. Richmond Realtors 3 6. In the result, the appeal filed by the assessee stands allowed for statistical purposes. Order pronounced in the open court on 30.05.2024. Sd/- Sd/- (RENU JAUHARI) (NARENDER KUMAR CHOUDHRY) ACCOUNTANT MEMBER JUDICIAL MEMBER * Kishore, Sr. P.S. Copy to: The Appellant The Respondent The CIT, Concerned, Mumbai The DR Concerned Bench //True Copy// By Order Dy/Asstt. Registrar, ITAT, Mumbai.