M/S. DANODIA INVESTMENTS & FINANCE LTD.,KOLKATA vs. D.C.I.T.,CC-2(3), KOLKATA

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ITA 1492/KOL/2019Status: DisposedITAT Kolkata23 September 2020AY 2009-102 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the CIT(A)'s order had not independently examined the detailed evidence filed by the assessee. Therefore, the matter was restored to the CIT(A) for fresh adjudication.

What were the facts?

The assessee's appeal concerned an order that treated a share application/premium sum of ₹4,50,00,000/- as bogus unexplained cash credits and an unexplained commission payment of ₹8.10 lakh. The assessee did not appear before the CIT(A).

What were the issues?

Whether the CIT(A) properly examined the evidence filed by the assessee when passing an ex parte order, and whether the share application/premium sum and commission payment were genuine.

Which sections of the Income-tax Act were involved?

Section 68

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

आदेश /O R D E R PER S.S.Godara, Judicial Member:- This assessee’s appeal for assessment year 2009-10 arises against the Commissioner of Income Tax (Appeals)-3, Kolkata’s order dated 04.09.2018 passed in case No.278/16-17 involving proceedings 147 r.w.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 proceeded ex parte. The case is now taken up for adjudication on merits.

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