M/S. TROPEX SUPPLIERS PVT. LTD. (SUCCESSOR TO UNIVERSAL SUPPLIERS PVT. LTD.,),KOLKATA vs. ITO, WARD 6(4), , KOLKATA

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ITA 1088/KOL/2025Status: DisposedITAT Kolkata26 August 2025AY 2012-2013Bench: SHRI RAJESH KUMAR, AM AND SHRIPRADIP KUMAR CHOUBEY (Judicial Member)2 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the appeal to the file of the Ld. AO, directing a fresh examination of the share application money addition, specifically concerning the correct assessment year of receipt, after providing the assessee a reasonable opportunity of being heard. The Tribunal's decision effectively allowed the appeal for statistical purposes.

What were the facts?

The assessee, M/s Tropex Suppliers Pvt. Ltd., appealed against the Ld. CIT(A)'s ex-parte dismissal for AY 2012-13. The original assessment by the Ld. AO included an addition of ₹1,28,50,000/- for share application money, of which the tribunal noted ₹1,23,00,000/- was received in prior years, leaving only ₹5,50,000/- for the current year.

What were the issues?

Whether the addition for share application money was correctly made for AY 2012-13, given that most of the amount was received in prior years, and whether the assessee was afforded proper opportunity of hearing.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH, KOLKATA

For Appellant: Shri Miraj D Shah, AR
For Respondent: Shri S.B. Chakraborthy, DR
Hearing: 29.07.2025Pronounced: 26.08.2025

This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 22.03.2025for AY 2012-13.

2.

At the outset, we observe that the appeal of the assessee has been dismissed ex-parte when the assessee failed to turn up on the various opportunities granted by the appellate authority. Similarly, we note that even before the ld. AO though there was proper representation, however some facts were wrongly observed by the ld. AO as made total addition of ₹1,28,50,000/- on account of share application

3.

In the result, the appeal of the assessee is allowed for statistical purposes.

Order pronounced in the open court on 26.08.2025.

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