Principal Commissioner Of Income ... vs M/S. Pasari Multiprojects Pvt. ...
2022 Latest Caselaw 1930 Cal/2

OD-3

                 IN THE HIGH COURT AT CALCUTTA
                SPECIAL JURISDICTION (INCOME TAX)
                          ORIGINAL SIDE


                        ITAT/40/2022
                IA No: GA/1/2022, GA/2/2022
PRINCIPAL COMMISSIONER OF INCOME TAX (CENTRAL) -2, KOLKATA
                           VERSUS
           M/S. PASARI MULTIPROJECTS PVT. LTD.


BEFORE :
THE HON'BLE JUSTICE T.S. SIVAGNANAM
         And
THE HON'BLE JUSTICE BIVAS PATTANAYAK
Date : 13th July, 2022
                                      Appearance :-

                                     Mr. Soumen Bhattacharjee, Adv.
                                                ... For Appellant

                                     Mr. Avra Majumder, Adv.
                                                 ... For Respondent

The Court : We have heard Mr. Soumen Bhattacharjee, learned

standing Counsel appearing for the appellant and Mr. Avra Majumder,

learned Counsel appearing for the respondent.

There is a delay of 782 days in filing the appeal. We find that if

the appeal had been filed on 13th March, 2020, it would have been

within the limitation. However, on 15th March, 2020 on account of

lockdown, the Hon'ble Supreme Court had extended the period of

limitation for filing the appeal. We are of the view that the benefit of

the said judgment can be extended to the case on hand. Furthermore,

we note that the substantial questions of law which have been raised

by the revenue have already been entertained and appeals have been

admitted and one such appeal being ITAT 2 of 2021 was admitted on

24th June, 2020. Further, more or less on the identical

circumstances, by order dated 24th June, 2022 in GA 1 of 2021 and

ITAT 2 of 2021 we had condoned the delay in filing the appeal.

For the above reasons, the application for condonation of delay

being GA 1 of 2022 is allowed and the delay in filing the appeal is

condoned.

The affidavit-in-opposition to the application for condonation of

delay filed in Court be kept with the record.

ITAT/40/2022

We have heard Mr. Soumen Bhattacharjee, learned standing

Counsel appearing for the appellant and Mr. Avra Majumder, learned

Counsel appearing for the respondent.

The appeal is admitted on the following substantial questions of

law :-

i) Whether on the facts and circumstances of the case, the

Learned Income Tax Appellate Tribunal has erred under law in

assumption of jurisdiction by the assessing officer to make an

assessment under section 153A/143(3) of the Income Tax Act,

1961 claiming that no incriminating document was found

and/or seized during search and he did not adjudicate other

grounds of appeal on merit ?

ii) Whether on the facts and circumstances of the case, and under

law, the decision of the Learned Income Tax Appellate Tribunal

is not as per the provision of Section 153A in which it is

provided that once a return is filed in answer to notice under

section 153A of the Income Tax Act, 1961, explanation to

section 153A of the act provides among other things, that all

provisions of the act will apply to the assessment made under

section 153A of the Act as per which, the assessment

proceeding under section 153A(1) can be concluded assessing

the total income of the assessee including making addition

without any incriminating material being available against the

assessee for any particular year ?

iii) Whether on the facts and circumstances of the case, the

Learned Income Tax Appellate Tribunal has erred in examining

the entire facts of the case in which on the basis of material

found during search and seizure operation on cash trail

transactions from bank accounts was made establishing that

assessee has received Rs. 3,60,00,000/- from Jama Kharch

Companies in form of share capital/premium liable to be treated

as unexplained income in the hand of the assessee and such

material is very well in the nature of incriminating material ?

The appellant shall file requisite number of informal paper

books prepared out of court within 10(ten) weeks from date by serving

copies thereof on the respondent. The appeal shall appear after

12(twelve) weeks.

Since Mr. Avra Majumder, learned Counsel appears for the

respondent, service of notice of this appeal to the respondent is

dispensed with. Settlement of Index and all other formalities are

dispensed with.

The stay application being GA/2/2022 stands closed.

(T.S. SIVAGNANAM, J.)

(BIVAS PATTANAYAK, J.)

PKD/SN AR(CR)