SHANKAR GAS & MFG CO. PVT LTD, New Delhi V. ITO WARD - 23(1), New Delhi

ITA 52/DEL/2021

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 5480 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 2 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-03-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2015-2016
• Appeal Filed On: 26-01-2021
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: DEEPAK OSTWAL
• Keywords: Accommodation entries
• Section: 68; 69C; 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘SMC’ NEW DLEHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER ITA No. 52/Del/2021 Assessment Year: 2015-16 Shankar Gas & MFG Co. Pvt. Ltd., vs. Income-tax Officer, C/o D Ostwal & Associate, 310, Ward 23(1), New Delhi. Competent House, F-14, Connaught Place, New Delhi. PAN : AABCN5053E (Appellant) (Respondent) Appellant by : Sh. Deepak Ostwal, CA Respondent by: Sh. Om Prakash, Sr. DR Date of hearing: 31.03.2022 Date of order : 31.03.2022 ORDER This appeal filed by the assessee is directed against the order dated 17.05.2019 of the learned CIT(A)-XXV, New Delhi relating to assessment year 2015-16. 2. Although a number of grounds have been raised by the assessee, but these all relate to the order of ld. CIT(A) confirming the addition of Rs.17,62,993/- made by the Assessing Officer u/s. 68 read with section 115BBE of the Income-tax Act, 1961 (“the Act for short”) and Rs. 44,074/- added u/s. 69C of the Act. 3. The facts of the case, in brief, are that the assessee filed its return of income on 25.09.2015 declaring a loss of Rs.33,10,618/-. The Assessing 2 Officer in the order passed u/s. 143(3) dated 29.12.2017 made addition of Rs.17,62,993/- u/s. 68 read with section 115BBE of the Act on the ground that the assessee could not explain the exempt Long-term Capital Gain shown in the return. Similarly, he also made an addition of Rs.44,074/- u/s. 69C of the Act being 2.5% of the accommodation entries obtained by the assessee amounting to Rs.17,62,993/-. In appeal before the ld. CIT(A), since there was no compliance from the side of the assessee despite number of opportunities granted, the ld. CIT(A), dismissed the appeal filed by the assessee vide ex parte order. Aggrieved by such an order of ld. CIT(A), the assessee is in appeal before the Tribunal. 4. I have heard the rival arguments of both the parties and perused the record. It is the submission of the ld. counsel for the assessee that although he had appeared before the ld. CIT(A), however, ld. CIT(A) without going through various details filed by the assessee has dismissed the appeal for want of prosecution. It is submitted that given an opportunity, the assessee is in a position to substantiate its case. Considering the totality of facts and circumstances of the case, I deem it appropriate to restore the issue to the file of ld. CIT(A) with the direction to grant one more final opportunity to the assessee to substantiate its case and decide the appeal on merits as per law. The assessee is also directed to cooperate with the ld. CIT(A) in hearing of appeal without seeking unnecessary adjournments on one 3 pretext or the other. The grounds raised by the assessee are, accordingly, allowed for statistical purposes. 5. In the result, the appeal filed by the assessee is allowed for statistical purposes. Order pronounced in the open court on 31/03/2022. Sd/- (R.K. PANDA) Accountant Member Dated: 31/03/2022 ‘aks’