BLOCKDEAL MARKETING PVT. LTD.,KOLKATA vs. I.T.O.,WARD-10(1), KOLKATA

This is the appeal preferred by the assessee is against the order of the Ld. Commissioner of Income Tax(Appeals)-15, Kolkata (hereinafter referred to as the Ld. CIT(A)”] dated 14.12.2018 for the AY 2012-13.

At the outset, the ld. Counsel for the assessee submitted before the bench that the AO had issued summons u/s 131 of the Act to the directors of the assessee company for personal deposition and also called upon the assessee to furnish certain documents with respect of investors which could not be filed before the AO due to unavoidable reasons. The ld. Counsel for the assessee submitted that these documents/papers are required to be brought on record for the proper adjudication of Assessment Year: 2012-13 Blockdeal Marketing Pvt. Ltd . the issues involved in the appeal. Moreover, the Ld. CIT(A) has not properly dealt with various contentions as raised by the assessee and therefore in the interest of justice and fair play the case of the assessee may kindly be restored to the file of the AO so that the same could be decided after taking into account the merits of the case and evidences connected therewith.

The Ld. D.R on the other hand, submitted before the Bench that he has no objection if the file is restored back to the AO however the assessee should be directed to produce all the evidences, directors of the assessee company and comply with all the summons and produce all the papers for verification before the AO.

After hearing the rival contentions and perusing the material on record we find that the assessee did not comply with the summons issued u/s 131 of the Act issued by the AO during the assessment proceedings and also did not file any necessary documents before the AO during the assessment proceeding following which the issue could not be examined in detail. We have examined the chart filed by the Ld. D.R before us which relates the details of money invested by various companies with doubtful sources. Considering these facts and circumstances, we are of the view that the issue needs to be examined thoroughly at the end of the AO. Accordingly, we restore the case back to the file of AO with the direction to decide the same denovo after examining the issue afresh in accordance with law. We direct the assessee to co- operate and produce all the evidences and comply with all the directions which may be issued by the AO.

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