M/s. Anupam Vyapaar Pvt. Ltd., , Kolkata V. ITO, Ward - 4(3), Kolkata , Kolkata

ITA 747/KOL/2018

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 4830 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 3 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-08-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 19-04-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RADHY SHYAM
• Keywords: Unexplained cash credit
• Section: 143(3); 68

Judgement Text

, B , IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH B KOLKATA BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND DR. A.L. SAINI, ACCOUNTANT MEMBER ITA NO. 741 / KOL / 2018 ASSESSMENT YEAR :2013-14 CONCAST EXIM LTD. 21, HEMANT BASU SARANI, KOLKATA-001 [ PAN NO. AADCC 5575 G ] V/S . DCIT, CIRCLE-6(1) AAYAKAR BHAWAN, P- 7, CHOWRINGHEE SQUARE, KOLKATA-69 /APPELLANT .. / RESPONDENT ITA NO. 744 / KOL / 2018 ASSESSMENT YEAR :2012-13 M/S STARGOLD CONSTRUCTION PVT. LTD. 70B, LENIN SARANI, MEZZANINE FLOOR, KOLKATA- 700 013 [ PAN NO. AAQCS 7803 J ] V/S . INCOME TAX OFFICER TECH-2, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-69 /APPELLANT .. / RESPONDENT ITA NO. 74 7 / KOL / 2018 ASSESSMENT YEAR :2012-13 M/S ANUPAM VYAPAAR PVT. LTD., 14C, M.D. ROAD, 4 TH FLOR, KOLKATA-700 007 [ PAN NO. AAJCA 4465 H ] V/S . INCOME TAX OFFICER, WAR-4(3), AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-69 /APPELLANT .. / RESPONDENT /BY ASSESSEE NONE /BY RESPONDENT SHRI RADHY SHYAM CIT-DR ITA NO.741, 744 & 747/KOL/2018 A.YS.13-14 & 12-13 PAGE 2 /DATE OF HEARING 23-07-2019 /DATE OF PRONOUNCEMENT 09-08-2019 / O R D E R PER S.S.GODARA, JUDICIAL MEMBER:- THESE THREE ASSESSEES HAVE FILED THEIR INSTANT AS MANY APPEAL(S) FOR ASSESSMENT YEAR(S) 2013-14 IN FIRST AND 2012-13 IN LATTER TWO INSTANCES, AGAINST THE COMMISSIONER OF INCOME TAX ( APPEALS)-2 KOLKATAS SEPARATE ORDERS DATED 07.03.2018 AND 09.0 2.2018 IN FORMER TWO AND CIT(A)-19 KOLKATAS ORDER DATED 24.01.2018 PASSED IN CASE NOS. 158/CIT(A)-2/16-17, 1268/CIT(A)-2/15-16 & 57/C IT(A)-19/KOL/16- 17; RESPECTIVELY INVOLVING PROCEEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. CASE(S) CALLED TWICE. NONE APPEAR AT THE ASSESSEES BEHEST. THEY ARE ACCORDINGLY PROCEEDED EX PARTE . 2. WE NOTICE AT THE OUTSET THAT BOTH THE LOWER AUTH ORITIES CONCERNED HAVE TREATED THE ASSESSEES SHARE CAPITAL / PREMIUM RECEIPTS INVOLVING VARYING SUMS TO BE UNEXPLAINED CASH CREDITS U/S. 68 OF THE ACT SINCE LACKING IDENTITY, GENUINENESS AND CREDITWORTHINESS OF THE RESPECTIVE INVESTORS PART(IES). LEARNED CIT-DR FAILS TO REBUT THE CLINCHING FACT THAT NONE OF THE CIT(A)S ORDER TAKEN INTO CONSIDERATION THE FACTUAL MATRIX OF THE CASE ALONGWITH THE NECESSARY EVIDENCE AT THESE ASSESSEES BEHEST. HIS ONLY CASE IS THAT CIT(A) HAD MADE ALL EFFORTS T O SERVE THESE ASSESSEES IN LOWER APPELLATE PROCEEDINGS. FACED WIT H THIS SITUATION, WE OBSERVE THAT LARGER INTEREST WOULD BE MET IF THE CI T(A) DECIDES ALL THESE CASES AFRESH ON MERITS AS PRESCRIBED U/S 250(6) WIT HIN THREE EFFECTIVE ITA NO.741, 744 & 747/KOL/2018 A.YS.13-14 & 12-13 PAGE 3 OPPORTUNITIES OF HEARING SUBJECT TO PAYMENT OF COSTS OF 10,000/- EACH. WE ORDER ACCORDINGLY. NECESSARY LOWER APPELLATE PRO CEEDINGS TO FOLLOW. 3. THESE THREE ASSESSEES APPEAL(S) ARE ALLOWED FOR STATISTICAL PURPOSES IN ABOVE TERMS. A COPY OF THE ORDER BE PLA CED IN THE RESPECTIVE CASE FILE. ORDER PRONOUNCED IN THE OPEN COURT 09/ 08/2019 SD/- SD/- ( ) (( ) ( A.L.SAINI) (S.S.GODARA) (ACCOUNTANT MEMBER) (JUDICIAL MEMBER) KOLKATA, *DKP )- 09 / 08 /201 9 / COPY OF ORDER FORWARDED TO:- 1. /ASSESSEE-CONCAST EXIM LTD. 21, HEMANT BASU SARANI KOLKATA-001/M/S STARGOLD 70B, LENIN SARANI , MEZZANINIE F, KOLKATA-13/M/S ANUPAM VYAPAAR PVT. LTD., 14C, M .D. ROAD, 4 TH FL, KOLKATA-007 2. /REVENUE-DCIT, CIR-6(1),/IXTO TECH-2, & ITOWARD-4(3 ), AAYKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-69 3. 4 5 / CONCERNED CIT KOLKATA 4. 5- / CIT (A) KOLKATA 5. 8 ((4, 4, / DR, ITAT, KOLKATA 6. = / GUARD FILE. BY ORDER/ , /TRUE COPY/ 4,