KANAZAWA HOLDINGS PRIVATE LIMITED,MUMBAI vs. THE INCOME TAX OFFICER, 12(3)(1), MUMBAI
Income Tax Appellate Tribunal, MUMBAI BENCH “E”, MUMBAI
Before: SHRI OM PRAKASH KANT & SHRI RAJ KUMAR CHAUHANKanazawa Holdings Pvt. Ltd., Ground Floor, Swati Building, North Avenue Road, Santacruz west, Mumbai-400 054 PAN: AAACK6521B
PER RAJ KUMAR CHAUHAN (J.M.): 1. This appeal is filed by the appellant/assessee against the order dated 28.12.2022 of Learned Commissioner of Income Tax (Appeals) / National Faceless Appeal Centre, Delhi [hereinafter referred to as the “CIT(A)”], passed under section 250 of the Income Tax Act, 1961 [hereinafter referred to as “the Act”] for the A.Y. 2014-15, wherein the Kanazawa Holdings Pvt. Ltd., Ld. CIT(A) has dismissed the appeal ex parte as despite services of notice, the assessee failed to present its case before the Ld. CIT(A). 2. An application for condonation of delay has been filed by the appellant/assessee stating that statistically there is delay of 499 and narrated the reasons for filing the appeal after the due date. The application is supported by affidavit of the assessee therein contending the reasons for delay in filing the appeal as extracted below:- I, Mr. Ashok Bhagwandas Awtani, director of Kanazawa Holdings Private Limited, aged about 73 years and presently residing at Villa P-77 Nisreen St, Al Thanayah Fourth, Emirates Hills, Dubai, United Arab Emirates, do hereby state on solemn affirmation as follows:
I say that I am a director of Kanazawa Holdings Private Limited ["the Company"]. I say that my wife is also a director of the Company.
I say that I am a non-resident and settled in Dubai, along with my family, since 1981. I say that, since then, I am engaged in the business of ready-made garments in Dubai. 3. I say that I wanted to start some business in my motherland India and, therefore, the Company was incorporated under the Companies Act, 1956, w.e.f. 15.01.1988. 4. I say that, due to a number of factors, in 2017, the business operations of the Company in India came to a standstill. Therefore, the Company did not have any employee to look after its affairs in India. To add to the misery, the entire Kanazawa Holdings Pvt. Ltd., Indian operations came to a halt when my office premises in Bombay were attached, and part of the office was demolished.
I say that, on account of these reasons, the Company did not file audited financials before the