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TMI Blog2019 (5) TMI 2020X X X X Extracts X X X X X X X X Extracts X X X X ..... he AO for necessary factual verification as per law after affording adequate opportunities of hearing to the taxpayer. Assessee s appeal is allowed for statistical purposes. - Shri S.S.Godara, Judicial Member and Dr. A.L. Saini, Accountant Member For the Appellant : Shri Miraj D Shah, Advocate For the Respondent : Shri Sankar Heldar, JCIT-SR-DR ORDER PER S.S.Godara, Judicial Member:- This assessee s appeal for assessment year 2012-13 arises against the Commissioner of Income Tax (Appeals)-3, Kolkata s order dated 28.07.2017 passed in case No.590/CIT(A)-3/W-9(2)/15-16/Kol, involving proceedings u/s 143(3) of the Income Tax Act, 1961; in short the Act . Heard both the parties. Case file perused. 2. We notice at the outset that the assessee s instant appeal suffers from 24 days delay in filing. The assessee has placed on record its condonation petition stating non-availability of its directors during the prescribed limitation period. Learned. Departmental Representative is fair enough in not disputing correctness of the said averments. We therefore hold the impugned delay of 24 days to be neither intentional nor deliberate but on account of circumstances beyond assessee s control. C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ught on record. He prayed that the issue may be remanded back to the file of the Assessing Officer for fresh adjudication in light of all the evidences on record. 4.2. The ld. A/R, though not leaving his ground did not raise any objection to the matter being set aside to the file of the Assessing Officer for fresh adjudication. We find that this bench of the ITAT in all such cases has been restoring the matter to the file of the Assessing Officer for fresh adjudication. 5. In the case of Sriram Tie Up Pvt. Ltd. supra at para 6 and 7 held as follows: 6. In the case of M/s. Sukanya Merchandise Pvt. Ltd. vs ITO (ITA 291/Kol/2016 dated 15.12.2017) cited by the learned counsel for the assessee, a similar view has been taken by the Co-ordinate Bench of this Tribunal and the similar issue relating to the addition made under section 68 on account of share capital contribution by treating the same as unexplained cash credits is restored back by the Tribunal to the file of the A.O. in almost similar situation after recording its observations / findings as under: We note that the AO pursuant to the order of Ld. CIT had taken note of the directions of the Ld. CIT and issued notice u/s. 142(1) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s. 263 of the Act before this Tribunal in those cases one of it of Subha Lakshmi Vanijya Pvt. Ltd. Vs. CIT in ITA No. 1104/Kol/2014 dated 30.07.2015, wherein the Tribunal was pleased to uphold the order passed by the Ld. CIT passed u/s. 263 of the Act, which we learn to have been confirmed by the Hon ble jurisdictional High Court and the SLP preferred against the decision of the Hon ble jurisdictional High Court has been dismissed by the Hon ble Supreme Court. Therefore, similar order of the Ld. CIT passed u/s. 263 of the Act has been upheld. We note that the AO while giving effect to the CIT s 263 order has noted that the assessee company has in fact furnished the documents sought by him to his notice u/s. 142(1) of the Act. However, the AO took the adverse view against the assessee on the plea that the directors of the assessee company and share subscribing companies had not appeared before him on 26.03.2014 and t after taking note that none appeared on 26.03.2014 concluded on the same day 26.03.2014 that entire amount of share application money received along with premium amounting to Rs.8,06,00,000/- which has remained unexplained and added to the income of the assessee. We al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llate authority, as indeed of ITAT, to have ensured that effective inquiry was carried out, particularly in the fact of the allegations of the Revenue that the account statements reveal uniform pattern of cash deposits of equal amounts in the respective accounts preceding the transactions in question. This necessitated a detailed scrutiny of the material submitted by the assessee in response to the notice under Section 148 issued by the AO, as also the material submitted at the stage of appeals, if deemed proper by way of making or causing to be made a 'further inquiry in exercise of the power under Section 250(4). His approach not having been adopted, the impugned order of ITAT, and consequently that of CIT(Appeals), cannot be approved or upheld. In view of the aforesaid order and in the light of the Hon ble Supreme Court s decision in Tin Box Company (supra) and taking into consideration the fact the order of the Ld. CIT passed u/s. 263 of the Act in similar cases being upheld up to the level of Apex Court, and taking note of Hon ble Delhi High Court s order in Jansampark Advertising Marketing Pvt. Ltd. (supra), we set aside the order of the Ld. CIT(A) and remand the matter b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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