Simplex Commercial Pvt. Ltd., Kolkata V. ITO, WD-6(1), KOLKATA, Kolkata

ITA 487/KOL/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 6211 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 3 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-07-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 21-03-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SALLONG YADUN
• Assessee Lawyers: SHHI SUBASH AGARWAL
• Section: 131

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH A KOLKATA BEFORE SHRI P.M.JAGTAP, ACCOUNTANT MEMBER AND SHRI S.S.VISWANETHRA RAVI, JUDICIAL MEMBER ITA NO.487/KOL/2016 ASSESSMENT YEAR:2008-09 SIMPLEX COMMERCIAL PVT. LTD., 4, ADDITION BASANTALA, 4 TH FLOOR, KOLKATA-700 007 [ PAN NO.AALCS 8625 M ] / V/S . INCOME TAX OFFICER, WARD-6(1), P-7, CHOWRINGHEE SQUARE, KOLKATA-69 /APPELLANT .. /RESPONDENT /BY APPELLANT SHHI SUBASH AGARWAL, ADVOCATE /BY RESPONDENT SHRI SALLONG YADUN. ADDL. CIT-DR /DATE OF HEARING 10-05-2018 /DATE OF PRONOUNCEMENT 04-07-2018 /O R D E R PER S.S.VISWANETHRA RAVI, JUDICIAL MEMBER:- THIS APPEAL BY THE ASSESSEE AGAINST THE ORDER DATE D 18.01.2016 PASSED BY COMMISSIONER OF INCOME TAX (APPEALS)-2, KOLKATA FOR ASSESSMENT YEAR 2008-09. 2. AFTER HEARING BOTH PARTIES WE FIND THAT ASSESSE E HAS RAISED PAID-UP SHARE CAPITAL OF 2.895 CRORES INCLUDING PREMIUM AND TO VERIFY THE G ENUINENESS OF SAID TRANSACTIONS, IDENTITY AND CREDITWORTHINESS OF THE SHAREHOLDERS, THE ASSESSING OFFICER ISSUED NOTICE U/S 131 OF THE INCOME TAX ACT, 1961, IN SHORT THE ACT TO THE DIRECTORS OF SHAREHOLDING COMPANIES. ON PERUSAL OF THE ASSESS MENT RECORD, WE FIND THAT NONE APPEARED IN RESPONSE TO SAID NOTICE. IN VIEW OF SAM E, TAKING INTO CONSIDERATION THE SUBMISSIONS OF THE LEARNED AR WE DEEM IT APPROPRIAT E TO REMIT THE MATTER TO THE FILE ITA NO.487/KOL/2016 A.Y. 2008- 09 SIMPLEX COMMERCIAL PVT. LTD. VS. ITO WD-6(1) KOL . PAGE 2 OF ASSESSING OFFICER FOR HIS FRESH ADJUDICATION. TH E ASSESSEE IS AT LIBERTY TO FILE ALL EVIDENCE IN RESPECT OF ISSUE AS DISCUSSED IN PARA-4 OF THE ASSESSMENT ORDER. THUS, GROUND NO. 1 & 2 RAISED BY ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSE. 3. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED FOR STA TISTICAL PURPOSE. ORDER PRONOUNCED IN OPEN COURT ON 04/07/2018 SD/- SD/- ( !) (#$ !) (P.M.JAGTAP) (S.S.VISWANETHRA RAVI) ACCOUNTANT MEMBER JUDICIAL MEMBER *DKP-SR.PS % - 04/07/2018 / KOLKATA / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-SIMPLEX COMMERCIAL PVT LTD.4, ADI BASANT ALA, 4 TH FL, KOL-07 2. /RESPONDENT-ITO WARD-6(1), P-7, CHOWRINGHEE SQ, KOL KATA-69 3. ( + / CONCERNED CIT 4. + - / CIT (A) 5. , $$( , ( / DR, ITAT, KOLKATA 6. 0 / GUARD FILE. BY ORD ER/ , /TRUE COPY/ SR. PRIVATE SECRETARY, HEAD OF OFFICE/DDO (,