M/S DAYAVANT DELAER PVT. LTD.,KOLKATA vs. I.T.O.,WARD-2(2), KOLKATA

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ITA 2460/KOL/2019Status: DisposedITAT Kolkata19 October 2020AY 2012-132 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the CIT(A) order did not discuss the share capital/premium issue in light of the provided details. Therefore, the issue was restored to the CIT(A) for a fresh decision.

What were the facts?

The assessee's appeal for AY 2012-13 was decided ex parte by the CIT(A) without properly addressing the share capital/premium issue. The assessee claimed that the Assessing Officer's notice was duly replied to by the investor.

What were the issues?

Whether the CIT(A) properly adjudicated the share capital/premium issue without dealing with the factual matrix and evidence provided by the assessee.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 250(6),Section 133(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “VIRTUAL COURT A” KOLKATA

Before: Shri J.Sudhakar Reddy & Shri S.S.Godara

M/s Dayavant Dealer Pvt. Income Tax Officer Ward- बनाम Ltd., 14, Weston Street, 2nd 2(2) Aaykar Bhawan, P-7, / Floor, Kolkata-700 013 V/s. Chowringhee Square, [PAN No.AACCD 8123 A] Kolkata-700069 .. अपीलाथ� /Appellant ��यथ� /Respondent None अपीलाथ� क� ओर से/By Appellant Shri Ram Bilash Meena-CIT-DR ��यथ� क� ओर से/By Respondent 29-09-2020 सुनवाई क� तार�ख/Date of Hearing 19-10-2020 घोषणा क� तार�ख/Date of Pronouncement आदेश /O R D E R PER S.S.Godara, Judicial Member:- This assessee’s appeal for assessment year 2012-13 arises against the Commissioner of Income Tax (Appeals)-7, Kolkata’s order dated 09.01.2018 passed in case No.312/CIT(A)-7/Kol/Ward-2(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. It is accordingly proceed ex parte. The case is now taken up for adjudication on merits.

2.

It transpires at the outset with the able assistance of learned CIT-DR that the CIT(A)’s order under challenge affirming the Assessing Officer’s action treating the assessee’s share capital / premium of ₹17,18,0,000/-; has been passed ex parte without dealing with the relevant factual matrix thereof as contemplated u/s 250(6) of the Act requiring forming of points of determination followed by a detailed adjudication

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