ALISA COLD STORAGE PVT. LTD.,BURDWAN vs. ACIT, CIRCLE - 1, BURDWAN, BURDWAN

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ITA 329/KOL/2018Status: DisposedITAT Kolkata12 October 2018AY 2012-132 pages
AI SummaryRemanded

What did the Tribunal hold?

The tribunal found that the CIT(A) had not properly considered the assessee's submissions and had not adjudicated the issues on merits as required. Therefore, the case was remanded for fresh decision.

What were the facts?

The assessee's appeal concerns additions made by the Assessing Officer for unexplained share application money and unexplained investment. The assessee's Managing Director was unable to provide full explanations due to illness.

What were the issues?

Whether the CIT(A) properly adjudicated the additions of unexplained share application money and unexplained investment, and whether the assessee was given adequate opportunity to present its case.

Which sections of the Income-tax Act were involved?

Section 68,Section 144,Section 250(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “C” KOLKATA

Before: Shri S.S.Godara & Dr. A.L. Saini

PER S.S.Godara, Judicial Member:

- This assessee’s appeal for assessment year 2012-13 arises against the Commissioner of Income Tax (Appeals)-Burdwan’s order dated 30.03.2017, passed in case No.60/CIT(A)/Bwn/Circle-1/2015-16, in proceedings u/s. 144 of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file perused.

2.

The assessee’s twin substantive grounds raised in the instant appeal challenge correctness of CIT(A)’s order affirming the Assessing Officer’s action in both adding its share application money of ₹1,34,60,000/- to be unexplained cash credits followed by unexplained investment addition of ₹2,75,63,680/-; respectively made in the course of assessment in issue framed on 19.03.2015. Learned counsel submits during the course of hearing that although assessee’s Managing Director had put in appearance before the ITA No.329/Kol/2018 A.Y. 2012-13 Alisa Cold Storage Pvt. Ltd. Vs. ACIT, Cir-1 Bwd. Page 2 CIT(A) as per lower appellate order, he was suffering from chronic ailments on that date rendering him unable to put forth all the relevant explanation against both the impugned addition(s). He thereafter submits that the lower authorities have also made the two addition(s) on credit side to be unexplained cash credits sec. 68 and on the debit side as well regarding the latter issue of unexplained investment (supra). Learned Departmental Representative fails to dispute the fact that this crucial aspect has escaped the CIT(A)’s consideration. Coupled with this, we find that the CIT(A)’s order has also not discussed merits of the two issues followed by a detailed adjudication as stipulated u/s 250(6) of the Act. We therefore deem it appropriate in larger interest of justice that the CIT(A) needs to re-decide assessee’s lower appeal afresh as per law on all the substantive issues raised therein after affording three effective opportunities of hearing.

3.

This assessee’s appeal is accepted for statistical purposes. Order pronounced in the open court 12/10/2018 (लेखा सद%य) ("या'यक सद%य) (Dr. A.L. Saini) (S.S.Godara) (Accountant Member) (Judicial Member) Kolkata, *Dkp, Sr.P.S (दनांकः- 12/10/2018 कोलकाता । आदेश क" ""त"ल"प अ"े"षत / Copy of Order Forwarded to:- 1. अपीलाथ"/Appellant-Alisa Cold Storage Pvt. Ltd., 1,J.B. Hazra Road, Rasikpur, Burdwan, West Bengal-713101

2.

""यथ"/Respondent-ACIT, Cir-1, Aayakar Bhawan 2nd, Floor, Court Compound, Burdwan 3. संबं3धत आयकर आयु4त / Concerned CIT Kolkata 4. आयकर आयु4त- अपील / CIT (A) Kolkata 5. 7वभागीय "'त'न3ध, आयकर अपील"य अ3धकरण, कोलकाता / DR, ITAT, Kolkata 6. गाड< फाइल / Guard file. By order/आदेश से, // Sr. Private Secretary, Head of Office/DDO आयकर अपील"य अ3धकरण, कोलकाता ।

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