PKG CONSTRUCTION PVT. LTD.,KOLKATA vs. I.T.O.WARD-12(2), KOLKATA

The captioned appeal has been preferred by the assessee against the order of Learned Commissioner of Income Tax (Appeals) - 4, Kolkata, (hereinafter referred to as “the ld. CIT(A)”), passed u/s 250 of the Income Tax Act, 1961 (hereinafter ‘the Act’) dated 28/02/2019, for Assessment Year 2013-14.

At the outset, the ld. Counsel for the assessee submitted that presently, no activities are carried out in the company and the business which was carried out in the past has been shifted to other companies which are in control of some other group. It was also submitted that all the impugned additions have mostly arisen on the ground that complete details were not filed before the lower authorities. Further it was submitted that most of the additions were Assessment Year: 2013-14 PKG Construction Pvt. Ltd. 2 on account of information provided in Form 26AS but due to lack of providing the details and also because there is mis-match in the gross receipt and the receipt appearing in Form 26AS, because income is accounted for in the subsequent year when the income is received and the parties/customers have shown iN some other years. Therefore, complete re-conciliation of these transactions is must and for doing the same it was requested that all the issues raised on merits be restored to the file of the Assessing Officer for fresh adjudication.

The ld. D/R on the other hand, vehemently argued supporting the orders of the lower authorities.

We have heard rival contentions and perused the material available on record. We on perusal of the assessment order as well as the impugned order notice that major additions are on account of the difference in the gross receipts appearing in the profit and loss account as against gross receipts shown in Form 26AS. We also notice that the assessee could not avail the opportunity properly provided by the lower authorities. Before us, the family members of the Director of the assessee have appeared stating that currently no business is carried out in this company and efforts are being made to collect the books of accounts and documents for the year under appeal so as to plead on merits of the case. 4.1. The ld. D/R was also fair enough in no opposing this request of the assessee that the issue may be remanded to the Assessing Officer for fresh adjudication considering the reply of the assessee and various documents to be relied upon.