Pixel Commosales pvt. Ltd., Kolkata V. ITO, Wd.-1(4), Kolkata

ITA 51/KOL/2021

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 5731 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 1 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-03-2022
• Appeal Filed By: Assessee
• Order Result: PartlyAllowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 16-02-2021
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Unexplained cash credit; Bogus Share capital; Reasonable cause
• Section: 68; 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA ‘A’ BENCH, KOLKATA (Before Sri Sanjay Garg, Judicial Member & Sri Manish Borad, Accountant Member) I.T.A. No.: 51/Kol/2021 Assessment Year: 2012-13 Pixel Commosales Pvt. Ltd......................................................Appellant [PAN: AAFCP 0993 F] Vs. CIT(A)-17, Kolkata................................................................Respondent Appearances by: None appeared on behalf of the Assessee. Sh. Biswanath Das, Addl. CIT, appeared on behalf of the Revenue. Date of concluding the hearing : March 3 rd , 2022 Date of pronouncing the order : March 30 th , 2022 ORDER Per Manish Borad, Accountant Member: This appeal filed by the assessee pertaining to the Assessment Year (in short “AY”) 2012-13 is directed against the order of ld. Commissioner of Income-tax (Appeals)-17, Kolkata [in short ld. “CIT(A)”] dated 19.07.2019 vide Appeal No.285/CIT(A)-17/Kol/17-18 which is arising out of the assessment order framed u/s 143(3) of the Income Tax Act, 1961 (in short the “Act”) dated 23.03.2015 by ITO, Ward-1(4), Kolkata. 2. There is a delay of 519 days in filing of the appeal. The impugned order was received by the assessee on 29.07.2019. Advocate B.P. Sen Roychodhury was approached and the assessee assured that the documents will be prepared for filing the appeal. In the meantime lock-down was called for owing to COVID-19 Pandemic and this resulted the delay of 519 days. Ld. Sr. D/R opposed the request. However, considering the situation and the circumstances faced by the assessee as mentioned in the condonation application, we find merit in the same. Thus, the delay of 519 days is condoned and the appeal is admitted for adjudication. 3. At The outset, ld. Counsel for the assessee submitted that the impugned order is an ex-parte order and requested that the issue raised in the instant appeal to be restored to the file of the ld. CIT(A) providing one I.T.A. No.: 51/Kol/2021 Assessment Year: 2012-13 Pixel CommosalesPvt. Ltd. Page 2 of 3 more opportunity to make necessary submissions. Ld. D/R was fare enough not to oppose this request. 4. We have heard rival contentions and perused the records placed before us. The addition u/s 68 of the Act at Rs.1,79,50,000/- for unexplained share capital and share premium was made by the AO and the matter was carried before the ld. CIT(A). The assessee did not respond on three occasions. Ld. CIT(A) applying the judgment of the Hon’ble jurisdictional High Court in the case of Rajmandir Estate Pvt. Ltd. vs. PCIT in GA No. 509 of 2016 confirmed the addition. 5. We find that the assessee was not able to appear before the ld. CIT(A) due to some unavoidable circumstances which restrained it to file documentary evidences for explaining the alleged unexplained cash credit. We, therefore, in the interest of justice being fare to both the parties, restore all the issues raised in the instant appeal to the file of the ld. CIT(A) for fresh adjudication on merit and for passing a speaking order after considering the submissions and also if necessary, call for the remand report in relation to the documents/additional evidences if any, filed by the assessee in the appellate proceedings before the ld. CIT(A) and decide the issue in accordance with law after providing necessary opportunity to the assessee. We also direct the assessee to remain compliant to the notices received for hearing before the ld. CIT(A) and to restrain from taking adjournments unless and otherwise required for reasonable cause. If the assessee does not appear on three occasions, then the ld. CIT(A) shall pass the order in accordance with law without giving any opportunity to the assessee. 6. In the result, the appeal of the assessee is allowed for statistical purposes. Kolkata, the 30 th March, 2022. Sd/- Sd/- [Sanjay Garg] [Manish Borad] Judicial Member Accountant Member Dated: 30.03.2022 Bidhan (P.S.) I.T.A. No.: 51/Kol/2021 Assessment Year: 2012-13 Pixel CommosalesPvt. Ltd. Page 3 of 3 Copy of the order forwarded to: 1. Pixel Commosales Pvt. Ltd., 9A, Khairu Place, 1 st Floor, Kolkata- 700 072. 2. CIT(A)-17, Kolkata. 3. CIT(A)- 4. CIT- 5. CIT(DR), Kolkata Benches, Kolkata. True copy By order Assistant Registrar ITAT, Kolkata Benches Kolkata