What did the Tribunal hold?

The Assessing Officer and CIT(A) had made certain additions. However, during the appeal hearing, the assessee's authorized representative did not press the grounds of appeal.

The assessee filed an appeal against the order of the CIT(A) for the assessment year 2008-09. The grounds of appeal related to the classification of a claim as capital gain instead of business income and the CIT(A)'s appreciation of the assessee's explanation.

What were the issues?

The primary issue was whether a claim should be treated as capital gain or business income. However, the appeal was dismissed as the grounds were not pressed.

M/S.Amalgam Nutrients & Feeds… vs DCIT | ITAT Cochin 2019

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

For Appellant: Shri R. Sreenivasan, CA

For Respondent: Smt. A.S. Bindhu, Sr. DR

Hearing: 06/05/2019

Per CHANDRA POOJARI, AM:

This appeal filed by the assessee is directed against the order of the CIT(A)-I,

Kochi dated 07/08/2018 and pertain to the assessment year 2008-09.

The assessee has raised the following grounds of appeal:

1) The Officers below were not justified in treating the claim arising as capital gain instead of business as claimed by the appellant.

2) the CIT(A) has not properly appreciated the working and explanation given by appellant during the course of hearing.

3) At any rate the first appellate authority should have set aside the issue to the Assessing Officer.

I.T.A. No.429/Coch/2018 3. At the time of hearing, the Ld. AR did not press the above grounds and hence,

they are dismissed as not pressed.

In the result, the appeal filed by the assessee is dismissed,

Order pronounced in the open Court on this 6th May, 2019

sd/- sd/- (GEORGE GEORGE K.) (CHANDRA POOJARI) JUDICIAL MEMBER ACCOUNTANT MEMBER

Place: Kochi Dated: 6th May, 2019

GJ Copy to: 1. M/s. Amalgam Nutrients & Feeds Ltd., Amalgam House, Bristow Road, Willinggdon Island, Kochi-3. 2. The Deputy Commissioner of Income-tax, Circle-1(1), Kochi. 3. The Commissioner of Income-tax(Appeals)-I, Kochi. 4. The Pr. Commissioner of Income-tax, Kochi. 5. D.R., I.T.A.T., Cochin Bench, Cochin. 6. Guard File. By Order

(ASSISTANT REGISTRAR) I.T.A.T., Cochin

I.T.A. No.429/Coch/2018

Date 1. Draft Order dictated on 06/05/2019 Sr.PS 2. Draft Order placed before author 06/05/2019 AM 3. Approved draft comes back 06/05/2019 Sr. PS 4. Fair order placed before the author. AM 5. Fair order placed before the Second 06/05/2019 JM Member for signature 6. Pronouncement on 06/05/2019 7. File sent to the Bench Clerk 8. Date on which file goes to the AR 9. Date on which file goes to the Head Clerk. 10. Date of dispatch of Order.

M/S.AMALGAM NUTRIENTS & FEEDS LTD,KOCHI vs. THE DCIT, CIR-1(1), KOCHI

What did the Tribunal hold?

What were the facts?

What were the issues?

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