KAILASHGIRI PROJECTS PVT. LTD.,KOLKATA vs. ITO, WARD - 9(4), KOLKATA, KOLKATA

This is an appeal of the Assessee directed against the order passed by the Learned Commissioner of Income Tax (Appeals) – 3, Kolkata (in short the ld CITA) in Appeal

We have heard the rival submissions. We find that the assessment was framed u/s 144 of the Act wherein a sum of Rs. 5,09,50,000/- was added towards share capital as unexplained cash credit u/s 68 of the Act. The assessee preferred an appeal before the Ld. CIT(A). The Ld. CIT(A) gave several opportunities to the assessee but no appearance was made by the assessee. The Ld. CIT(A) accordingly confirmed the order of the ld. AO. The ld. AR before us pleaded for one last opportunity to be provided in order to adjudicate the issue on merits and accordingly, prayed for setting aside of this appeal to the file of Ld. CIT(A). In response to this, the ld. DR vehemently objected to the request of the ld. AR on the ground that the assessee despite giving several opportunities had not appeared before the Ld. CIT(A). We have gone through careful consideration of the facts and circumstances, we find that the assessee in the instant case should be given one more opportunity to address his grievance on merits before the Ld. CIT(A). Accordingly, in the interest of justice and fair play we remand this appeal to the file of the Ld. CIT(A) for de novo adjudication. The assessee is also directed not to seek any adjournment except due to exceptional or bonafide circumstances. Accordingly grounds raised by the assessee are allowed for statistical purposes and the stay petition is hereby dismissed.