Clitoris Marketing Private Limited vs. TRO-2, Kolkata

Parties Involved

Facts Summary

The assessee company filed its return of income for the Assessment Year 2012-13 on 30.09.2012 declaring total income of ₹ Nil. The case of the assessee was selected for scrutiny and followed by notice issued under Section 143(2) and 142(1) of the Income Tax Act, 1961. However, the assessee failed to comply with these notices. Further, summons under Section 131 of the Act were issued to the Directors of the assessee company but they too did not respond. Consequently, the assessment was completed ex parte under Section 144 of the Act. Dissatisfied with the above order, the assessee filed an appeal before the Learned Commissioner of Income Tax (Appeals) though with a delay of 19 days. Despite notice being issued by the Learned CIT(A), the assessee did not appear to argue the case. Therefore, the Learned CIT(A) dismissed the appeal of the assessee sustaining the addition made by the Assessing Officer. Aggrieved by the order of Learned CIT(A), the assessee is in appeal before this Tribunal. Despite the notice being issued form Registry regarding pendency of the appeal, the assessee failed to appear before the Tribunal leading to the matter being decided ex-parte based on material available on record and the submissions made by the Ld. DR.…

Legal Issues

• 1. The assessee claims that the Learned Assessing Officer erred in adding back Share Capital and Securities Premium to the tune of ₹ 1,00,00,000/- to the taxable income.
• 2. The assessee claims that the assessment order should be treated as null and void as it was not served within reasonable time.
• 3. The assessee craves leave to adduce further grounds on or before the hearing of the appeal.

Judgment Outcome

Decided in favour of Assessee.

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