M/S. LARIGO INVESTMENT PVT LTD.,KOLKATA vs. I.T.O.,WARD-3(1), KOLKATA

It transpires at the outset that the CIT(A)’s lower appellate order under challenge has been passed ex parte affirming the Assessing Officer’s action initiating section 148/147 proceedings thereby treating the assessee’s share capital/premium of Rs.65,00,000/- as lacking genuineness/creditworthiness.

Learned departmental representative invited our attention to the CIT(A)’s opening page indicating to have provided six opportunities on 24.09.2018, 04.10.2018, 25.10.2018, 14.11.2018, 28.11.2018 and 03.01.2019; respectively. His case therefore is that the assessee never appeared on any of the said dates.

The taxpayer’s case, on the other hand, is that there is no even a whisper in the CIT(A)’s order indicating actual service in either of the six hearings during the course of lower appellate proceedings. And that the CIT(A)’s order has nowhere taken into consideration the relevant factual and legal issues seeking to delete the impugned section 68 addition of unexplained cash credit as well as challenging validity of section 148/147 proceedings. This clinching aspect has gone unrebutted from the Revenue side. We therefore are of the view that the assessee deserves one more innings before the CIT(A). We order accordingly.

This assessee’s appeal is accepted for statistical purposes in above terms.