Kalashdan Realbuild Pvt. Ltd., New Delhi V. I.T.O.,Ward-4(4), Kolkata

ITA 73/KOL/2020

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 4532 (ITAT-KOLKATA)
• Duration Of Justice: 9 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-10-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Next Hearing Date: 06-10-2020
• Assessment Year: 2013-2014
• Appeal Filed On: 17-01-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: DHRUBA JYOTI RAY JCITSRDR
• Assessee Lawyers: P K SANGHAI
• Keywords: Unexplained cash credit
• Section: 68; 144

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH VIRTUAL COURT A KOLKATA BEFORE SHRI P.M.JAGTAP, VICE-PRESIDENT AND SHRI S.S.GODARA, JUDICIAL MEMBER ITA NO.73/KOL/2020 ASSESSMENT YEAR:2013-14 KALASHDAN REALBUILD PVT. LTD., P-3/169, MANGOL PURI, NEW DELHI, DELHI-110083 [ PAN NO.AAECK 6305 K ] / V/S . INCOME TAX OFFICER, WARD-4(4), AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI P.K. SANGHAI, AR /BY RESPONDENT SHRI DHRUBAJYOTI RAY, JCIT-SR-DR /DATE OF HEARING 06-10-2020 /DATE OF PRONOUNCEMENT 21-10-2020 /O R D E R PER S.S.GODARA, JUDICIAL MEMBER:- THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2013-14 ARISES AGAINST THE COMMISSIONER OF INCOME TAX (APPEALS)-2, KOLKATA DAT ED 21.11.2019, PASSED IN CASE NO. CIT(A), KOLKATA-2/10462/2016-17 U/S 144 OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. HEARD BOTH THE PARTIES. CASE FILE PERUSED. 2. WE NOTICE AT THE OUTSET WITH THE ABLE ASSISTANCE OF BOTH THE LEARNED REPRESENTATIVES THAT THE CIT(A)S LOWER APPELLATE O RDER UNDER CHALLENGE AFFIRMING THE ASSESSING OFFICERS ACTION TREATING THE ASSESSEES SECURITY PREMIUM AMOUNT OF 74,25,000/- AS UNEXPLAINED CASH CREDITS U/S 68 OF THE ACT IN BEST JUDGMENT ASSESSMENT DATED 07.03.2016 HAS BEEN PASSED EX PARTE . ITA NO.73/KOL/2020 ASSESSMENT YEAR:2013-14 KALASHDAN REALBUILD PVT. LTD. VS. ITO WD-4(4), K OL. PAGE 2 3. LEARNED AUTHORIZED REPRESENTATIVES FIRST AND FO REMOST PLEA DURING THE COURSE OF HEARING IS THAT ASSESSEE COULD NOT APPEAR BEFORE BO TH THE LOWER AUTHORITIES DURING ASSESSMENT AS WELL AS IN LOWER APPELLATE PROCEEDING S SINCE THERE IS CHANGE OF ITS DIRECTORS ADDRESS FROM KOLKATA TO DELHI AS GIVEN I N FORM NO.36. THIS CLINCHING ASPECT HAS GONE UNREBUTTED FROM THE REVENUE SIDE. L EARNED COUNSEL THEREAFTER SUBMITTED THAT THE ASSESSEE CAME TO KNOW ABOUT THE CIT(A)S EX PARTE ORDER ONLY AFTER RECEIVING THE CORRESPONDING PENALTY NOTICE PROCEEDI NGS. HE LASTLY UNDERTOOK TO COMPLY WITH THE ASSESSING OFFICERS VERIFICATION NO TICE(S); IF THE ASSESSEE IS AFFORDED ONE MORE EFFECTIVE INNINGS TO PROVE IDENTITY, GENUI NENESS AND CREDITWORTHINESS OF THE INVESTOR PARTIES. 4. LEARNED SR-DR HAS FAILED TO REBUT THE ASSESSEE S DIRECTORS ADDRESS CHANGE HEREINABOVE. 5. FACED WITH THIS FACTUAL POSITION AND MORE SO WHE N THE ASSESSEES DIRECTOR CHANGED HIS ADDRESS FROM KOLKATA TO DELHI, WE DEEM IT APPROPRIATE TO RESTORE ITS FOREGOING SOLE SUBSTANTIVE GRIEVANCE BACK TO THE AS SESSING OFFICER FOR AFRESH ADJUDICATION SUBJECT TO PAYMENT OF RS.10,000/- AS COST TO BE PAID TO P.M. CARES FUND.. THIS COST IS BEING IMPOSED SINCE THE ASSESSEE HAD N OT APPEARED BEFORE THE ASSESSMENT AUTHORITY AS WELL. IT IS MADE CLEAR THAT THE ASSESS EE SHALL APPEAR ALONGWITH A COPY OF THE INSTANT REMAIN DIRECTIONS ITSELF ON OR BEFORE 3 1 ST DECEMBER, 2020 AND THEREAFTER IT SHALL BE AFFORDED THREE EFFECTIVE OPPORTUNITIES TO PROVE ALL THE THREE LIMBS (SUPRA) OF THE INVESTOR PARTY(IES) CONCERNED. 6. THIS ASSESSEES APPEAL IS ALLOWED FOR STATISTICA L PURPOSES IN ABOVE TERMS. ORDER PRONOUNCED IN OPEN COURT ON 21/10/2020 SD/- SD/- (P.M.JAGTAP) (S.S.GODAR A) ( !) (#$ ') VICE PRESIDENT JUDICIAL MEMBE R *DKP-SR.PS ( - 21/10/2020 / KOLKATA ITA NO.73/KOL/2020 ASSESSMENT YEAR:2013-14 KALASHDAN REALBUILD PVT. LTD. VS. ITO WD-4(4), K OL. PAGE 3 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-KALASHDAN REALBUILD PVT. LTD. P-3, 169, MANGOL PURI, NEW DELHI, DEL HI-110083 2. /RESPONDENT-ITO WD-4(4), AAYAKAR BHAWAN, P-7, CHOWR INGHEE SQUARE KOLKATA-69 3. + . / CONCERNED CIT 4. . - / CIT (A) 5. / $$+ , + / DR, ITAT, KOLKATA 6. 3 / GUARD FILE. BY ORD ER/ , /TRUE COPY/ +,