Income Tax Appellate Tribunal - Kolkata
M/S. Bhikshu Mercantile Private ... vs Ito, Ward - 5(3), Kolkata , Kolkata on 30 April, 2019
आयकर अपील य अधीकरण, यायपीठ - "D" कोलकाता,
IN THE INCOME TAX APPELLATE TRIBUNAL
KOLKATA BENCH "D" KOLKATA
Before Shri S.S.Godara, Judicial Member and
Dr. A.L. Saini, Accountant Member
ITA No.674/Kol/2018
Assessment Year :2012-13
M/s Bhikshu Mercantile V/s. Income Tax Officer,
Pvt Ltd., 71, Canning W ard-5(3), P-7,
Street, Ground Floor, E-3, Chowringhee Square,
Bagree Market, Aayakar Bhawan, 8 t h
Kolkata-700001 Floor, Kolkata-69
[P AN No. AAECB 9395 A]
अपीलाथ /Appellant .. यथ /Respondent
अपीलाथ क ओर से/By Appellant Shri S.M. Surana, Advocate
यथ क ओर से/By Respondent Shri Radhay Shyam, CIT-DR &
Shankar AHaldar, JCIT-SR-DR
सन
ु वाई क तार ख/Date of Hearing 18-04-2019
घोषणा क तार ख/Date of Pronouncement 30-04-2019
आदे श /O R D E R
PER S.S.Godara, Judicial Member:-
This assessee's appeal for assessment year 2012-13 arises against the Commissioner of Income Tax (Appeals)-7. Kolkata's order dated 23.01.2018 passed in case No.98/ CIT(A)-7/Kol/Ward-5(3)/17-18, involving proceedings u/s 143(3) of the Income Tax Act, 1961; in short 'the Act'.
Heard both the sides. Case file perused.
2. The assessee's twin substantive grounds raised in its instant appeal challenge corr4ectness of CIT(A)'s ex parte order upholding the Assessing Officer's action treating its share application money of ₹3.38 lac. to be unexplined cash credits and sec. 14A r.w.s Rule 8D disallowance of ₹5,032/- in assessment order dated 02.03.2015. We notice at the outset that the assessee has filed a detailed paper book comprising of its income tax acknowledgement, full set of income-tax ITA No.674/Kol/2018 A.Y. 2012-13 M/s Bhikshu Mercantile Pvt. Ltd. Vs. ITO Wd-5(3),Kol. Page 2 return, audited financial statement, computation of total income list of allottees bank statement. The Assessing Officer notice(s) u/s 143(2) an 142(1) dated 07.08.2013, reply dated 14.07.2014, u/s 131 summons reply thereof dated 26.11.2014 alongwith supporting evidence, share applicants explanation, show-cause notice dated 09.02.2015 and nine share applicants' reply to u/s 133(6) notice, acknowledgements, bank statement earned source of funds allotment letter, income-tax acknowledgement auditor financial statement as well list of directors in all cases. There is no dispute that the CIT(A)'s ex parte order has nowhere considered the same on merits requiring formulation of points of determination followed by a detailed adjudication threreupon u/s. 250(6) of the Act. We notice that CIT(A)';s order in page 9 para-7 has simply affirmed the Assessing Officer's action without taking into consideration all the said voluminous evidence forming part of record right from assessment onwards. We therefore restore the instant lis back to the CIT(A) for afresh adjudication as per law within three effective opportunities of hearing to the taxpayer.
3. This assessee's appeal is allowed for statistical purposes in above terms.
Order pronounced in the open court 30/04/2019
Sd/- Sd/-
(लेखा सद%य) ( या'यक सद%य)
(Dr.A.L. Saini) (S.S.Godara)
(Accountant Member) (Judicial Member)
Kolkata,
*Dkp, Sr.P.S
(दनांकः- 30/04/2019 कोलकाता ।
आदे श क त ल प अ े षत / Copy of Order Forwarded to:-
1. अपीलाथ /Appellant-M/s Bhikshu Mercantile Pvt. Ltd. 71, Canning Street, Ground Floor E-3, Bagre Market, Kolkatka-700001
2. यथ /Respondent-ITO Wd-5(3), P-7, Chowringhee Sq.Aayakar Bhawan, 8th Fl,Kol-69
3. संब3ं धत आयकर आय4 ु त / Concerned CIT Kolkata
4. आयकर आय4 ु त- अपील / CIT (A) Kolkata
5. 7वभागीय 'त'न3ध, आयकर अपील य अ3धकरण, कोलकाता / DR, ITAT, Kolkata
6. गाड< फाइल / Guard file.
By order/आदे श से, /True Copy/ सहायक पंजीकार आयकर अपील य अ3धकरण, कोलकाता ।