ITO, KOLKATA vs. OLIVIA DEVELOPERS PRIVATE LIMITED, KOLKATA
Before: SHRI RAJESH KUMAR, AM & SHRI PRADIP KUMAR CHOUBEY, JM ITO P-7, Chowringhe Square, Aaykar Bhavan, Kolkata-700069, West Bengal Vs. Olivia Developers Private Limited 87, Lenin Sarani, Kolkata-700013 West Bengal (Appellant) (Respondent) PAN No. AAAC08795R
Per Rajesh Kumar, AM:
This is an appeal by the Revenue against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 01.11.2023 for the AY 2020-21. 02. At the outset, we note that there is a delay of 54 days in filing the appeal by the Revenue for which a condonation petition was filed.
After hearing both the parties and perusing the matters available on record, we find that the delay in filing the appeal is for sufficient reasons which appear to be genuine and bonafide and accordingly, the delay in filing the appeal of the Revenue is condoned.
Olivia Developers Pirate Limited; A.Y. 2020-21
We observed that the assessment was framed by the ld. AO wherein two additions aggregating to ₹9,25,65,994/- was made to the income of the assessee when the assessee failed to file the necessary evidences despite the specific queries from the ld. AO and even the show cause notice dated 25.03.2022 was not replied by the assessee. We note that the addition as made with respect to unsecured loans of ₹5,13,07,216/- and current liability of ₹4,12,58,778/- aggregating to ₹9,25,65,994/- by the AO on the basis of materials and facts available on records when the same remained unexplained and unverified in the assessment proceedings. 04. In the appellate proceedings, the assessee filed necessary evidences fi before the ld. CIT (A) and ld. CIT (A) deleted the addition of holding that the assessee has proved the genuineness of all the above transactions even without calling for a remand report from the AO on additional evidences filed by the assessee in the form of sample copies of sale agreements as filed by the assessee in paper book from page no. 177 to 441 which were filed by the suo-motto. The ld DR pointed out that the in case of suo-motto evidences being filed by the assessee for the first time the AO has to be confronted and therefore the appellate order passed is against the principle of natural justice. In our opinion these issues are required to be examined thoroughly at the end of the ld. Assessing Officer. Accordingly, we restore this appeal to the file of the ld. AO with a direction to examine these evidences and decide the issue as per the facts and in accordance with the law after affording a reasonable opportunity of hearing to the assessee. The appeal of the Revenue is allowed for statistical purpose. Olivia Developers Pirate Limited; A.Y. 2020-21
In the result, the appeal of the Revenue is allowed for statistical purposes. Order pronounced in the open court on 15.01.2025. (PRADIP KUMAR CHOUBEY) (RAJESH KUMAR) (JUDICIAL MEMBER) (ACCOUNTANT MEMBER)
Kolkata, Dated: 15.01.2025
Sudip Sarkar, Sr.PS
Copy of the Order forwarded to :
The Appellant 2. The Respondent 3. CIT 4. DR, ITAT, 5. Guard file. BY ORDER,//
Sr. Private Secretary/ Asst.