M/S. RAUDRAMUKHI MARKETING PVT. LTD.,KOLKATA vs. ITO, WARD - 14(3), KOLKATA, KOLKATA

The assessee in the present case is a Company, which is carrying on financial business. The return of income for the year under consideration was filed by it on 28.09.2012 declaring total income of Rs.2,180/-. In the assessment completed under section 143(3) vide an order dated 28.03.2015, the total income of the assessee was determined by the Assessing Officer at Rs.44,89,11,841/- after making, inter alia, an addition of Rs.44,88,92,500/- under section 68 by treating the share capital and share premium amount received by the assessee-company Assessment Year: 2012-2013 M/s. Raudramukhi Marketing Pvt. Limited during the year under consideration to that extent as unexplained cash credit.

Against the order passed by the Assessing Officer under section 143(3), an appeal was preferred by the assessee before the ld. CIT(Appeals) and since there was no satisfactory compliance to the notices issued by him fixing the said appeal for hearing from time to time, the ld. CIT(Appeals) dismissed the appeal of the assessee vide his appellate order dated 30.09.2016 passed ex-parte. Aggrieved by the order of the ld. CIT(Appeals), the assessee has preferred this appeal before the Tribunal.

At the time of hearing fixed today, none has appeared on behalf of the assessee. It is, however, pointed out by the assessee in the ground specifically raised that the notices of hearing fixed by the ld. CIT(Appeals) were sent to the wrong address and the same, therefore, could not be served on the assessee resulting into non-compliance and this position which is clearly evident even from the impugned order of the ld. CIT(Appeals) is not disputed even by the ld. D.R. He has contended that this matter may, therefore, be sent back to the ld. CIT(Appeals) for disposing of the appeal of the assessee afresh on merit after giving the assessee proper and sufficient opportunity of being heard. We find merit in the contention of the ld. D.R. The impugned order of the ld. CIT(Appeals) passed ex-parte is accordingly set aside and the matter is restored to the file of the Assessing Officer for deciding the same afresh on merit after giving the assessee proper and sufficient opportunity of being heard.

In the result, the appeal of the assessee is treated as allowed for statistical purposes. Order pronounced in the open Court on February 11, 2019. Sd/- Sd/- (Satbeer Singh Godara) (P.M. Jagtap) Judicial Member Vice-President (KZ) Kolkata, the 11th day of February, 2019 Assessment Year: 2012-2013 M/s. Raudramukhi Marketing Pvt. Limited Copies to : (1) M/s. Raudramukhi Marketing Pvt. Limited, 6, Pahtaghar Road, Panihati, Kolkata-700 014