M. S. PROJECTS PVT. LTD.,PURBA MEDINIPUR vs. ITO, WD-27(1), HALDIA, PURBA MEDINIPUR

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ITA 1276/KOL/2016Status: DisposedITAT Kolkata31 January 2018AY 2010-20113 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that there was a sufficient cause for the assessee's non-compliance due to the illness of its erstwhile Managing Director. The matter was restored to the Assessing Officer for fresh consideration after allowing the assessee an opportunity to be heard.

What were the facts?

The assessee's appeal before the CIT(A) was dismissed ex-parte due to non-compliance with notices. The assessee's income was determined at Rs. 38,20,479/- after an addition of Rs. 31,00,000/- on account of unexplained share application money.

What were the issues?

Whether the ex-parte dismissal of the appeal by the CIT(A) was justified and if the matter should be remanded to the Assessing Officer for fresh adjudication.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH (SMC

Before: Shri P.M. Jagtap, AM]

order : January 31, 2018 ORDER This appeal filed by the assessee is directed against the order of Ld. CIT (Appeals) -7, Kolkata dated 28.04.2016 passed ex-parte dismissing the appeal of the assessee.

2.

The assessee in the present case is a company which is engaged in the business of manufacturing of bricks as well as construction. The return of income for the year under consideration was filed by it on 13.10.2010 declaring a total income of Rs. 7,20,479/- In the assessment completed under section 143(3) vide an appeal order dated 20.03.2013, the total income of the assessee was determined by the assessee at Rs. 38,20,479/- after making an addition of Rs. 31,00,000/- on account of share application money by treating the same as unexplained cash credit under section 68.

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