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Income Tax Appellate Tribunal, KOLKATA BENCH “VIRTUAL COURT-A” KOLKATA
Before: Shri P.M. Jagtap, Vice- & Shri S.S.Godara
PER S.S.Godara, Judicial Member:
- This assessee’s appeal for assessment year 2012-13 arises against the Commissioner of Income Tax (Appeals)-23, Kolkata’s order dated 01.03.2017, passed in case No. 72/CIT(A)-23/W-Tech-2/16-17 involving proceedings u/s 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Case called twice. None appears at the assessee’s behest. We accordingly dispose of the appeal ex parte after hearing the learned CIT-DR.
With the able assistance of learned departmental representative, we notice at the outset that the CIT(A)’s lower appellate order under challenge affirming the Assessing Officer’s inter alia action treating the assessee’s share capital / premium
ITA No.1058/Kol/2017 Assessment Year:2012-13 Azure Securities Pvt. Ltd. Vs. ITO Wd-Tech-2, Kol. Page 2 sum of ₹15,75,00,000/- as unexplained cash credits u/s 68 followed by the sec. 14A r.w.s. Rule 8D disallowance of ₹3,58,925/-, has been passed ex parte without dealing with the corresponding detailed documentary evidence available in the case file as it is evident from a perusal of the assessment order dated 23.03.2015 passed u/s 143(3) of the Act.
We observe in this factual backdrop that the CIT(A)’s lower appellate order fails to confirm to the statutory requirement of framing of points of determination followed by a detailed adjudication u/s. 250(6) of the Act. We accordingly deem it appropriate to restore the instant lis back to the CIT(A) for his afresh appropriate adjudication as per law within three effective opportunities of hearing. Ordered accordingly.
This assessee’s appeal is allowed for statistical purposes in above terms. Order pronounced in open court on 07/12/2020 (P.M.Jagtap) (S.S.Godara) (उपा य!) (#या$यक सद'य) Vice President Judicial Member *Dkp-Sr.PS (दनांकः- 07/12/2020 कोलकाता / Kolkata आदेश क" ""त"ल"प अ"े"षत / Copy of Order Forwarded to:- 1. अपीलाथ"/Appellant-Azure Securities Pvt.Ltd., 27, Brabourne Rd. 5th Fl. Kolkata-01
""यथ"/Respondent-ITO Ward-Tech-2, Aaykar Bhawan, P-7, Chowringhee Square Kolkata-700 069 3. संबं+धत आयकर आयु.त / Concerned CIT 4. आयकर आयु.त- अपील / CIT (A) 5. /वभागीय "$त$न+ध, आयकर अपील"य अ+धकरण कोलकाता / DR, ITAT, Kolkata 6. गाड3 फाइल / Guard file. By order/आदेश से, // सहायक पंजीकार आयकर अपील"य अ+धकरण, कोलकाता ।