M/S. TROPEX SUPPLIERS PVT. LTD., (SUCCESSOR TO VITAL MERCANTILE PVT. LTD.,),KOLKATA vs. ITO, WARD 5(4), KOLKATA

1 The Registry has informed that the appeal is barred by limitation by 168 days. The assessee has filed a petition for condonation of delay along with an affidavit explaining the reasons that the assessee had engaged a counsel to file the appeal before the Tribunal, who delegated the work to his staff member, but the said staff member fell ill, was on ITA No(s). 1409/KOL/2026 Assessment Year(s) 2012-13 M/s. Tropex Suppliers Pvt. Ltd.

The assessee is in appeal before the Tribunal raising the following grounds of appeal: "1) For that in the facts and circumstances of the case the addition of Rs.5,24,80,000 made on account of unexplained cash credit being share capital and premium u/s 68 of the Income Tax Act, 1961 this was not justified and thus the same be deleted. 2) For that in the facts and circumstances of the case the addition made u/s 68 of the Income Tax Act, 1961 for non-compliance of summon u/s 131 of the Income Tax Act, 1961 is not justified and hence the same be deleted. 3) For that in the facts and circumstances of the case the order passed by the learned CIT (Appeals) is bad in law and therefore the same be set aside. 4) For that in the facts and circumstances of the case the Appellate order passed on the order based on an Assessment order passed which was in violation of principals of natural justice and hence the entire proceeding was bad in law and thus the same be cancelled/quashed. 5) For that the learned CIT (Appeals) erred in confirming the interest u/s 234 A/B/C the same was unjustified and hence the same be deleted. 6) The appellant craves leave to produce additional evidences in terms of Rule 29 of the Income Tax (Appellate Tribunal) Rules 1963. 7) The appellant craves leave to press new, additional grounds of appeal or modify, withdraw any of the above grounds at the time of hearing of the appeal."

Brief facts of the case are that the assessee had filed the return of income for the AY 2012-13 on 26.09.2012 declaring the total income at ₹17,393/-. During the assessment proceeding, the Assessing Officer (hereinafter referred to as Ld. 'AO') observed that the assessee had issued 52,480 equity shares of ₹10/- each at a premium of ₹990/- per share, thereby receiving total amount of ₹5,24,80,000/- during the FY 2011-12. To verify the transactions, the Ld. AO issued summons u/s 131 of the Act to the directors of the shareholder companies, but none appeared. Consequently, the Ld. AO treated the share application money as bogus, disallowed the sum of ₹5,24,80,000/-, and added it to the total income as unexplained cash credits u/s 68 of the Act. He computed the total income at ₹5,24,97,393/- and completed the assessment u/s 143(3) of the Act vide order dated 29.03.2015. Aggrieved with the assessment order, the assessee filed an appeal before the Ld. CIT(A), who observed that despite multiple opportunities provided for hearing, the assessee had failed to file the necessary documents or properly prosecute the appeal. Relying on judicial precedents regarding non-prosecution, the Ld. CIT(A) dismissed the appeal for non-prosecution. Accordingly, the Ld. CIT(A) confirmed the action of the Ld. AO and dismissed the appeal of the assessee.

Aggrieved with the order of the Ld. CIT(A), the assessee has filed the appeal before the Tribunal.

None appeared on behalf of the assessee and, therefore, the appeal was heard with the assistance of the Ld. DR. The Ld. DR submitted that the appeal was dismissed as the assessee had not filed Form No. 35, the statement of facts, grounds of appeal, copy of order appealed against M/s. Tropex Suppliers Pvt. Ltd.

A perusal of the paper book filed before us shows that the assessee had filed Form No. 35 before the Ld. CIT(A). Grounds and facts as per page 6 to 11 of the appeal memo, a copy the Act of which has been enclosed shows the same to be dated 17th April 2017 and the same was received in the office of the CIT(Appeal)-2, Kolkata on 20th April 2025. Thus, Form No. 35 along with a certified copy of the assessment order, the original notice of demand and challan for ₹1,000/- towards appeal fee was filed before the Ld. CIT(A) and was available at the time of hearing along with the grounds of appeal. Therefore, it cannot be said that the Form No. 35 was not filed. Since the Ld. CIT(A) has passed an order which is not in accordance with sub-section (6) of section 250 of the Act and the appeal was dismissed on the incorrect assumption of non-filing of Form No. 35 and other details, therefore, the Bench was of ITA No(s). 1409/KOL/2026 Assessment Year(s) 2012-13 M/s. Tropex Suppliers Pvt. Ltd.

CIT-

CIT(DR), Kolkata Benches, Kolkata.

Guard File. //// By order