V MART RETAIL LTD.,GURGAON, HARYANA V. A.C.I.T., CIRCLE - 7(1), KOLKATA, KOLKATA

ITA 1033/KOL/2024

AI Insights

The case involves V Mart Retails Ltd., which appealed against the order of the CIT(A) dismissing their appeal for the assessment year 2012-13. The primary issue arose from the assessee's failure to explain a substantial amount in their bank transactions, which was treated as unexplained and bogus by the Assessing Officer (AO). The CIT(A) dismissed the appeal on procedural grounds, noting the absence of submissions from the assessee despite multiple notices. The Tribunal, however, noted the assessee's claim of circumstances beyond their control preventing them from submitting their case and decided to remand the case back to the CIT(A) for a fresh hearing.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 469691 (ITAT-KOLKATA)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-03-2025
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Laws Referred To: Income Tax Act
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Set aside; Bogus
• Section: 148; 250

Judgement Text

"आयकर अपीलȣय अͬधकरण, कोलकाता पीठ “बी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA Įी Ĥदȣप क ुमार चौबे, ÛयाǓयक सदèय एवं Įी संजय अवèथी, लेखा सटèय क े सम¢ [Before Shri Pradip Kumar Choubey, Judicial Member &Shri Sanjay Awasthi, Accountant Member] I.T.A. No. 1033/Kol/2024 Assessment Year: 2012-13 V Mart Retails Ltd. (PAN: AABCV 7206 K) Vs. ACIT, Circle-7(1), Kolkata Appellant / ) अपीलाथȸ ( Respondent / Ĥ×यथȸ Date of Hearing / सुनवाई कȧ Ǔतͬथ 12.02.2025 Date of Pronouncement/ आदेश उɮघोषणा कȧ Ǔतͬथ 10.03.2025 For the assessee / Ǔनधा[ǐरती कȧ ओर से Shri Ramesh Patodia, Advocate For the revenue / राजèव कȧ ओर से Shri Sailen Samadder, Addl. CIT Sr. D.R ORDER / आदेश Per Pradip Kumar Choubey, JM: This is an appeal preferred by the assessee against the order of the Ld. Commissioner of Income Tax (Appeals)-NFAC, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 12.03.2024 for the AY 2012-13. 2. Brief facts of the case of the assessee is that the assessee company filed its return of income on 13.08.2012 declaring total income of Rs. 16,32,48,820/-. Subsequently on information received from the Investigation Wing as there was heavy amount of 2 I.T.A. No.1033/Kol/2024 Assessment Year: 2012-13 V Mart Retails Ltd. transaction in the bank accounts, a notice u/s 148 was issued, the assessee company filed a return of income., show cause notice has also been received but no reply has been submitted, as a result of the which, the AO has held that an amount of Rs. 1,10,23,450/- remained unexplained and treated as bogus and not genuine. 3. Aggrieved by the said order the assessee preferred an appeal before the Ld. CIT(A) wherein the appeal of the assessee has been dismissed on the ground that the assessee did not rebut the finding of the AO nor he made any submission in support of the grounds of appeal before the undersigned, in spite of giving notices on various dates issued. Being aggrieved and dissatisfied the assessee preferred an appeal before us. 4. The ld. Counsel for the assessee instead of arguing into merit of the case has fairly submitted that the assessee has to give an opportunity to place his case before the Ld. CIT(A) as the assessee did not produce submission before the Ld. CIT(A) as circumstances was beyond to the control of the assessee. 5. Contrary to that the Ld. D.R though supports the impugned order but did not raise any objection if the case is remitted back to the file of Ld. CIT(A). 6. We have gone through the order passed by the Ld. CIT(A) and find that the Ld. CIT(A) has held in his order the assessee has not made any separate submission in support of the ground of appeal in spite of issuance of hearing notice u/s 250 of the Act on various dates. The order is therefore passed on the basis of details of evidence on record. From the perusal of the order of the Ld. CIT(A) it is clear that it has been passed when the assessee did not make any submission before the Ld. CIT(A). The prayer of the assessee is that the assessee has to give an opportunity to place its case before the Ld. CIT(A). For the interest of justice, we are inclined to restore the case of the assessee before the Ld. CIT(A) for passing a fresh order. Accordingly, the order passed by the Ld. CIT(A) is hereby set aside and the appeal of the assessee is restored into the file of Ld. CIT(A) for fresh adjudication. 3 I.T.A. No.1033/Kol/2024 Assessment Year: 2012-13 V Mart Retails Ltd. In the result, the appeal of assessee is allowed for statistical purposes. Order is pronounced in the open court on 10th March, 2025 Sd/- Sd/- (Sanjay Awasthi/संजय अवèथी) (Pradip Kumar Choubey /Ĥदȣप क ुमार चौबे) Accountant Member/लेखा सदèय Judicial Member/ÛयाǓयक सदèय Dated: 10th March, 2025 SM, Sr. PS Copy of the order forwarded to: 1. Appellant- V Mart Retail Ltd., Plot No.-862, Udyog Vihar, Industrial Area, Phase-V, Gurgaon-122002 2. Respondent – ACIT, Circle-7(1),Kolkata 3. Ld. CIT(A)-NFAC, Delhi 4. Ld. Pr. CIT- , Kolkata 5. DR, Kolkata Benches, Kolkata (sent through e-mail) True Copy By Order Assistant Registrar ITAT, Kolkata Benches, Kolkata "