M/S. TABASSUM DEALERS PVT. LTD. ,KOLKATA vs. ITO,WARD-4(1), KOLKATA. , KOLKATA

This is the appeal preferred by the assessee against the order of the Ld. Ld. Commissioner of Income Tax (Appeal)-NFAC, Delhi (hereinafter referred to as the Ld. CIT(A)”] dated 18.08.2023 for the AY 2012-13.

At the time of hearing, when the case was called for hearing neither the assessee nor his A.R was present despite service of notice. We also note that the case was already listed on number of occasions. It was posted on 30.10.2023 when an Assessment Year: 2012-13 M/s Tabassum Dealers Pvt. Ltd.

The only issue raised by the assessee in ground no. 2 is against the confirmation of addition of Rs. 45,00,00,000/- by the AO on account of share capital and share premium as unexplained cash credit u/s 68 of the Act.

After perusing the assessment order as well as appellate order, we observe that the assessee has received money from various companies which could not be verified by the AO as well as the Ld. CIT(A) without the requisite details/evidences on the part of the assessee. Consequently the amount was added as unexplained cash credit to the income of the assessee and assessment was framed u/s 143(3)/254 of the Act. We note that this was a case where the Tribunal vide order dated 14.01.2019 has set aside the ex-parte order passed by the Ld. CIT(A) and restored the issue back to the file of AO for deciding afresh after affording a reasonable opportunity to the assessee. We note that pursuant to the directions of the tribunal , the AO has granted sufficient opportunity to the assessee but the assessee could not prove the identity, creditworthiness and genuineness of the transactions. Accordingly the same was added to the income of the assessee and also confirmed by Ld. CIT(A). The appellate authority passed a very speaking and detailed order dealing with each and every aspect with which we do not find any infirmity which warrant out interference.

In the result, the appeal of the assessee is dismissed.