SIRRUS ENGINEERING PVT. LTD.,KOLKATA vs. D.C.I.T.,CIRCLE-3(1), KOLKATA

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ITA 1087/KOL/2019Status: DisposedITAT Kolkata19 January 2023AY 2013-145 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal, after considering the submissions of the Revenue and the lack of response from the assessee, found no reason to interfere with the Assessing Officer's findings.

What were the facts?

The assessee is in appeal against the order of the CIT(A) for AY 2013-14. The assessee did not appear before the Assessing Officer, CIT(A), or the Tribunal despite multiple notices and opportunities.

What were the issues?

The appeal concerns additions made by the Assessing Officer on account of unexplained expenditure from commodity trading, estimated marginal deposits, and the difference in bank account credits and debits.

Which sections of the Income-tax Act were involved?

Section 143(2),Section 142(1),Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C’ BENCH, KOLKATA

Before: Shri Rajpal Yadav, Vice-(KZ) & Shri Girish Agrawal

Per Rajpal Yadav, Vice-President (KZ):- The assessee is in appeal before the Tribunal against the order of ld. Commissioner of Income Tax (Appeals)-7, Kolkata dated 28.03.2018 passed for A.Y. 2013-14.

2.

The grounds of appeal taken by the assessee read as under:-

1.

Assessment Year: 2013-2014 Sirrus Engineering Pvt. Limited “1 .The learned . Commissioner of Income Tax ( Appeal) -7 has eared in law as well as in facts while confirming the following Disallowance (a) Rs 700000/- for earning profit from commodity trading, treating the same as unexplained expenditure and adding such estimated expenditure to the income. (b) In estimating an imaginary figure of marginal deposit of Rs 500000/- with the broker for commodity trading and then treating the same as from undisclosed sources and consequently adding the same to the total income. (c) For That the addition of Rs.10677330/-on estimation basis by treating the difference between total accounts credited and total amount debited in current account with Bank of Baroda ( Rs.232554144-182135991)= 50418153 as unexplained is wrong way of calculation of the learned assessing officer”.

3.

The assessee has filed its return of income on 30.09.2013 declaring total income of Rs.11,77,400/-. A notice was issued under section 143(2) and thereafter under section 142(1). The ld. Assessing Officer has passed the impugned order under section 143(3) on 19.03.2016 and the finding in the assessment order reads as under:-

Assessment Year: 2013-2014 Sirrus Engineering Pvt. Limited Assessment Year: 2013-2014 Sirrus Engineering Pvt. Limited 4. Dissatisfied with the assessment order, the assessee carried the matter in appeal before the ld. 1st Appellate Authority, but the ld. 1st Appellate Authority has dismissed the appeal for want of prosecution.

5.

In response to the notice of hearing, no one has come present on behalf of the assessee. Earlier Shri Abhisek Tibrewal, FCA, filed Power of Attorney, but it does not contain any e-mail or Mobile No. of the ld. Counsel. Similarly no one has responded to the Mobile No. available in Form No. 36 appended on the appeal.

6.

With the assistance of ld. D.R., we have gone through the record carefully. The assessee did not submit anything before the ld. Assessing Officer. It did not appear before the ld. CIT(Appeals) inspite of number of opportunities given to the assessee. It did not submit anything before the Tribunal. We have issued four notices through Registered Post and also tried to contact the assessee on the Mobile No. 8777254185, but there is no response at the end of the assessee. Therefore, after going through the order of the ld. Assessing Officer, we do not find any reason to interfere in the finding of the ld. Assessing Officer. Accordingly, the appeal of the assessee is dismissed.

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