Swaroshki Tie-Up Pvt. Ltd., Kolkata V. I.T.O.Ward-3(2), Kolkata

ITA 634/KOL/2019

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 2770 (ITAT-KOLKATA)
• Duration Of Justice: 2 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-06-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Assessment Year: 2012-2013
• Appeal Filed On: 29-03-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: SANKAR HALDER SR DR
• Assessee Lawyers: K M RAI
• Keywords: Unexplained cash credit
• Section: 68; 144

Judgement Text

SWAROSHKI TIE UP PVT. LTD. I.T.A NO.634/KOL/2019 ASSESSMENT YEAR: 2012-13 PAGE | 1 IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: KOLKATA BEFORE: SHRI P. M. JAGTAP, VICE PRESIDENT AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER I.T.A NO.634/KOL/2019 (ASSESSMENT YEAR: 2012-13) SWAROSHKI TIE UP PVT. LTD. APPELLANT [PAN:AAPCS 5081 B] VS ITO, WARD-3(2), KOLKATA RESPONDENT FOR THE APPELLANT : SHRI K. M. RAI, FCA FOR THE RESPONDENT : SHRI SANKAR HALDER, SR. DR, JCIT DATE OF HEARING : 12.04.2019 DATE OF PRONOUNCEMENT : 12.06.2019 ORDER SHRI S.S. VISWANETHRA RAVI, JM: THIS APPEAL BY THE ASSESSEE AGAINST THE ORDER DATED 06.03.2019 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS)-1, KOLKATA [CIT(A)] FOR ASSESSMENT YEAR 2012-13 WHEREIN HE CONFIRMED THE ORDER OF ASSESSING OFFICER EX PARTE OF ASSESSEE. 2. HEARD BOTH PARTIES AND PERUSED THE MATERIAL AVAILABLE ON RECORD. IT IS BROUGHT TO OUR NOTICE, AT THE TIME OF HEARING, THAT THIS APPEAL UNDER THE CAPTION OF EARLY HEARING THAT THE ASSESSEE CHANGED HIS ADDRESS DURING THE COURSE OF FIRST APPELLATE PROCEEDINGS AND THE CIT(A) ISSUED NOTICE TO THE OLD ADDRESS OF THE ASSESSEE. THE LD. AR REFERRED TO ADDRESS SHOWN IN THE FORM NO.36 WHEREIN WE FOUND SUCH ADDRESS IS DIFFERENT FROM THE ADDRESS AS FOUND IN THE ASSESSMENT SWAROSHKI TIE UP PVT. LTD. I.T.A NO.634/KOL/2019 ASSESSMENT YEAR: 2012-13 PAGE | 2 ORDER AND IN IMPUGNED ORDER. FURTHER THE LD. AR PRAYED TO REMAND THE MATTER TO THE FILE OF THE ASSESSING OFFICER AS THE ASSESSMENT WAS COMPLETED U/S 144 OF THE ACT. FURTHER HE SUBMITS THAT THE ASSESSEE IS READY TO PRODUCE ALL RELEVANT DETAILS RELATING TO ADDITIONS MADE THEREIN. WE FIND THAT THE ADDITIONS MADE BY THE ASSESSING OFFICER U/S 68 OF THE ACT ON ACCOUNT OF SHARE APPLICATION, THEREFORE, IN OUR OPINION, THE ASSISTANCE OF ASSESSEE IS REQUIRED TO EXPLAIN UNEXPLAINED CASH CREDIT AS FOUND BY THE ASSESSING OFFICER SINCE THERE IS NO OPPORTUNITY FOR THE ASSESSEE BEFORE THE ASSESSING OFFICER, IN THE INTEREST OF JUSTICE AND IN THE FACTS AND CIRCUMSTANCES OF THE CASE, WE DEEM IT PROPER TO REMAND THE MATTER TO THE FILE OF ASSESSING OFFICER SUBJECT TO PAYMENT OF COSTS OF RS.5,000/- PAYABLE TO THE PRIME MINISTER RELIEF FUND. THE ASSESSING OFFICER SHALL SATISFY HIMSELF THE PAYMENT OF SUCH COSTS BY THE ASSESSEE AND PROCEED TO COMPLETE THE ASSESSMENT. THE ASSESSEE IS AT LIBERTY TO FILE EVIDENCES, IF ANY, TO SUBSTANTIATE ITS CLAIM AND SHALL COOPERATE IN THE ASSESSMENT PROCEEDINGS FOR SPEEDY DISPOSAL. 3. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 12.06.2019. SD/- SD/- [P. M. JAGTAP] [S.S. VISWANETHRA RAVI] VICE PRESIDENT JUDICIAL MEMBER DATED : 12.06.2019 PLACE : KOLKATA RS, SR.PS SWAROSHKI TIE UP PVT. LTD. I.T.A NO.634/KOL/2019 ASSESSMENT YEAR: 2012-13 PAGE | 3 COPY OF THE ORDER FORWARDED TO: 1 . APPELLANT SWAROSHKI TIE UP PVT. LTD., 1 SARKAR BYE LANE, 2 ND FLOOR, KOLKATA. 2 RESPONDENT ITO, WARD-3(2), KOLKATA. 3 . THE CIT(A), KOLKATA 4. 5. CIT , KOLKATA DR, KOLKATA BENCHES, KOLKATA //TRUE COPY// BY ORDER, ASSISTANT REGISTRAR, ITAT, KOLKATA