M/s. Tabassum Dealers Pvt. Ltd. , Kolkata V. ITO,Ward-4(1), Kolkata. , Kolkata

ITA 914/KOL/2023

• Counselvise Citation: [2024] 100 COUNSELVISE.COM (IT) 3740 (ITAT-KOLKATA)
• Duration Of Justice: 5 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-02-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 08-01-2024
• Assessment Year: 2012-2013
• Appeal Filed On: 31-08-2023
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Unexplained cash credit; Principle of natural justice; Set aside
• Section: 68

Judgement Text

आयकर अपील य अ धकरण, कोलकाता पीठ “ए’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA ी संजय गग , या यक सद य एवं ी राजेश क ु मार, लेखा सद य के सम [Before Shri Sanjay Garg , Judicial Member & Shri Rajesh Kumar, Accountant Member] I.T.A. No. 914/Kol/2023 Assessment Year: 2012-13 M/s Tabassum Dealers Pvt. Ltd. (PAN: AABCT 7258 F) Vs. ITO, Ward-4(1), Kolkata Appellant / (अपीलाथ ) Respondent / (!"यथ ) Date of Hearing / स ु नवाई क% त'थ 09.01.2024 Date of Pronouncement/ आदेश उ*घोषणा क% त'थ 21.02.2024 For the Appellant/ नधा 0रती क% ओर से None For the Respondent/ राज व क% ओर से Shri S. Dutta, CITDR ORDER / आदेश Per Rajesh Kumar, AM: This is the appeal preferred by the assessee against the order of the Ld. Ld. Commissioner of Income Tax (Appeal)-NFAC, Delhi (hereinafter referred to as the Ld. CIT(A)”] dated 18.08.2023 for the AY 2012-13. 2. At the time of hearing, when the case was called for hearing neither the assessee nor his A.R was present despite service of notice. We also note that the case was already listed on number of occasions. It was posted on 30.10.2023 when an 2 I.T.A. No. 914/Kol/2023 Assessment Year: 2012-13 M/s Tabassum Dealers Pvt. Ltd. adjournment letter was filed by the assessee and accordingly the case was adjourned to 08.11.2023. Again on that date a letter of adjournment was received and the same was adjourned to 4.11.2024 at the request of the assessee vide letter dated 06.11.2023. However, on 4.1.2024 no one appeared on behalf of the assessee. Having regard to the principles of natural justice, the Bench again decided to give a final opportunity to the assessee to present its case and accordingly notice was sent on e-mail as well as through RPAD fixing the date on 9.1.2024. On the last date also none appeared on behalf of the assessee. Considering these facts and circumstances, we are of the view that the assessee is not interested in prosecuting its appeal and therefore the same is being decided ex-parte after considering the material available on record. 3. The only issue raised by the assessee in ground no. 2 is against the confirmation of addition of Rs. 45,00,00,000/- by the AO on account of share capital and share premium as unexplained cash credit u/s 68 of the Act. 4. After perusing the assessment order as well as appellate order, we observe that the assessee has received money from various companies which could not be verified by the AO as well as the Ld. CIT(A) without the requisite details/evidences on the part of the assessee. Consequently the amount was added as unexplained cash credit to the income of the assessee and assessment was framed u/s 143(3)/254 of the Act. We note that this was a case where the Tribunal vide order dated 14.01.2019 has set aside the ex-parte order passed by the Ld. CIT(A) and restored the issue back to the file of AO for deciding afresh after affording a reasonable opportunity to the assessee. We note that pursuant to the directions of the tribunal , the AO has granted sufficient opportunity to the assessee but the assessee could not prove the identity, creditworthiness and genuineness of the transactions. Accordingly the same was added to the income of the assessee and also confirmed by Ld. CIT(A). The appellate authority passed a very speaking and detailed order dealing with each and every aspect with which we do not find any infirmity which warrant out interference. 3 I.T.A. No. 914/Kol/2023 Assessment Year: 2012-13 M/s Tabassum Dealers Pvt. Ltd. Accordingly we are inclined to uphold the same by dismissing the appeal of the assessee. 5. In the result, the appeal of the assessee is dismissed. Order is pronounced in the open court on 21 st February, 2024 Sd/- Sd/- (Sanjay Garg /संजय गग ) (Rajesh Kumar/राजेश क ु मार) Judicial Member/ या यक सद य Accountant Member/लेखा सद य Dated: 21 st February, 2024 SM, Sr. PS Copy of the order forwarded to: 1. Appellant- M/s Tabassum Dealers Pvt. Ltd., B/9/H/1, Rajab Ali Lane, Kolkata-700023 2. Respondent – ITO, Ward-4(1), Kolkata 3. Ld. CIT(A)-NFAC, Delhi 4. Pr. CIT- , Kolkata 5. DR, Kolkata Benches, Kolkata (sent through e-mail) True Copy By Order Assistant Registrar ITAT, Kolkata Benches, Kolkata