YASH MINING PVT. LTD.,KOLKATA vs. I.T.O., WARD - 4(1), KOLKATA

The present appeal has been preferred by the assessee against an order dated 30.03.2024 of the National Faceless Appeal Centre [hereinafter referred to as ‘CIT(A)’] passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’).

At the outset, the Registry has informed that there is a delay of 194 days in filing the present appeal. The assessee filed an application for condonation of delay stating reasons for such delay. After considering the application, we find reasonable cause and the delay was not intentional. We, therefore, condone the delay in filing the appeal and adjudicate the appeal on merits of the case.

Brief facts of the case are that the assessee company filed its return of income for the assessment year 2012-13 u/s 139(1) of the Act declaring total income of Rs.31,470/-. In the case of the assessee, an information was received that the assessee company was one of the Assessment Year: 2012-13 Yash Mining Pvt. Ltd beneficiaries of the accommodation entries and had received an amount of Rs.75,00,000/- from paper/shell companies during the F.Y 2011-12 which appeared to have escaped the assessment. Accordingly, notice u/s 147 of the Act was issued to the assessee. However, the assessee did not turn up before the Assessing Officer. Accordingly, the Assessing Officer passed an order u/s 144/147 of the Act by making an addition of Rs.75,00,000/- u/s 68 of the Act alleging that the assessee has received accommodation entry from Balaji Trading Co.

Dissatisfied with the above order, the assessee preferred an appeal before the ld. CIT(A) against the assessment order. However, before the ld. CIT(A), the assessee did not turn up. The ld. CIT(A) had no other option but to decide the appeal by upholding the order of the Assessing Officer by dismissing the appeal of the assessee.