WHITESTONE SUPPLIERS PVT. LTD.,KOLKATA vs. I.T.O.,WARD-10(2), KOLKATA

- This assessee’s appeal for assessment year 2013-14 arises against the Commissioner of Income Tax (Appeals)-4, Kolkata’s order dated 31.12.2018, passed in case No. 06/CIT(A)-4/2015-16/ u/s 144 of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file perused.

It transpires at the outset during the course of hearing that the CIT(A)’s lower appellate order affirming the Assessing Officer’s action treating the assessee’s share capital / premium of ₹30,27,70,272/-; has been passed ex parte after observing that it choose not to appear. Learned counsel’s case is that although the assessee had filed all the relevant details pertaining to the corresponding investor party(ies) having Whitestone Suppliers Pvt. Ltd. Vs. ITO Wd-10(2), Kol. Page 2 subscribed of its share capital / premium, the same have nowhere been dealt with either in the course of assessment or in lower appellate discussion. He then took us to the CIT(A)’s order not indicating the actual service of notice. And also that the CIT(A) has not adjudicated upon merits of the issue as required u/s. 250(6) of the Act. The Revenue fails to rebut this clinching factual provision. We therefore deem it appropriate to restore the above sole issue back to the Assessing Officer keeping in mind the fact that he had nowhere considered the assessee’s detailed evidence in his earlier round of assessment. We order accordingly.