ONWARD VANIJYA PVT. LTD.,KOLKATA vs. I.T.O.,WARD-6(3), KOLKATA

This is an appeal preferred by the assessee against the order of the Ld. Commissioner of Income Tax (Appeals)-2, Kolkata [hereinafter referred to as ‘ Ld. CIT(A)’] dated 19.07.2017 for the assessment year 2012-13.

At the time of hearing neither assessee nor its authorized representative appeared to attend the hearing nor any application seeking adjournment was filed by the assessee. Therefore we are disposing of the appeal of the assessee on merits after hearing the ld DR.

After hearing the Ld. D.R. and perusing the material on record including the orders passed by the lower authorities, we note that the appeal was decided ex-parte by the ld. CIT(A) as the assessee did not appear on various dates fixed by the Ld. CIT(A) for hearing. We even note that the summons issued by the AO were not complied with during the assessment proceedings. Under these circumstances , we are of the belief that the assesse is not interested in prosecuting its appeal and is being decided on the basis of material available before us. The ld DR while referring to the assessment and appellate order, submitted that the assesse is beneficiary of accommodation entries in the form of share capital and share premium operated by shell companies. The ld. DR argued that even before the ld CIT(A) the assesse has not cooperated by attending the appeal which has resulted into ex-parte decision by ld CIT(A) on the basis of available records before him. We observe that the both the authorities below have given findings that the assesse is beneficiaries of accommodation entries from shell companies. We also observe that apparently on the basis of records before us the assesse has taken accommodation entries from various shell companies and there is no materials/evidences before us to take a contrary view on the issue. Therefore in absence of any evidences to the contrary before we are inclined to uphold the order of ld CIT(A).

In the result, the appeal of the assessee is dismissed.