SHANKAR GAS & MFG CO. PVT LTD,NEW DELHI vs. ITO WARD - 23(1), NEW DELHI
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Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’ NEW DLEHI
Before: SHRI R.K. PANDA
IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘SMC’ NEW DLEHI
BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER
ITA No. 52/Del/2021 Assessment Year: 2015-16
Shankar Gas & MFG Co. Pvt. Ltd., vs. Income-tax Officer, C/o D Ostwal & Associate, 310, Ward 23(1), New Delhi. Competent House, F-14, Connaught Place, New Delhi. PAN : AABCN5053E (Appellant) (Respondent)
Appellant by : Sh. Deepak Ostwal, CA Respondent by: Sh. Om Prakash, Sr. DR
Date of hearing: 31.03.2022 Date of order : 31.03.2022
ORDER This appeal filed by the assessee is directed against the order dated
17.05.2019 of the learned CIT(A)-XXV, New Delhi relating to assessment
year 2015-16.
Although a number of grounds have been raised by the assessee,
but these all relate to the order of ld. CIT(A) confirming the addition of
Rs.17,62,993/- made by the Assessing Officer u/s. 68 read with section
115BBE of the Income-tax Act, 1961 (“the Act for short”) and Rs. 44,074/-
added u/s. 69C of the Act.
The facts of the case, in brief, are that the assessee filed its return of
income on 25.09.2015 declaring a loss of Rs.33,10,618/-. The Assessing
Officer in the order passed u/s. 143(3) dated 29.12.2017 made addition of
Rs.17,62,993/- u/s. 68 read with section 115BBE of the Act on the ground
that the assessee could not explain the exempt Long-term Capital Gain
shown in the return. Similarly, he also made an addition of Rs.44,074/- u/s.
69C of the Act being 2.5% of the accommodation entries obtained by the
assessee amounting to Rs.17,62,993/-. In appeal before the ld. CIT(A), since
there was no compliance from the side of the assessee despite number of
opportunities granted, the ld. CIT(A), dismissed the appeal filed by the
assessee vide ex parte order. Aggrieved by such an order of ld. CIT(A), the
assessee is in appeal before the Tribunal.
I have heard the rival arguments of both the parties and perused the
record. It is the submission of the ld. counsel for the assessee that although
he had appeared before the ld. CIT(A), however, ld. CIT(A) without going
through various details filed by the assessee has dismissed the appeal for
want of prosecution. It is submitted that given an opportunity, the assessee
is in a position to substantiate its case. Considering the totality of facts and
circumstances of the case, I deem it appropriate to restore the issue to the
file of ld. CIT(A) with the direction to grant one more final opportunity to
the assessee to substantiate its case and decide the appeal on merits as per
law. The assessee is also directed to cooperate with the ld. CIT(A) in
hearing of appeal without seeking unnecessary adjournments on one
pretext or the other. The grounds raised by the assessee are, accordingly,
allowed for statistical purposes.
In the result, the appeal filed by the assessee is allowed for
statistical purposes.
Order pronounced in the open court on 31/03/2022. Sd/- (R.K. PANDA) Accountant Member Dated: 31/03/2022 ‘aks’
