BLUE COAST HOTELS LTD.,NEW DELHI vs. ACIT, CIRCLE- 5(1), NEW DELHI

This appeal filed by the assessee is directed against the ex parte order dated 31st December, 2018 of the CIT(A)-2, New Delhi, relating to assessment year 2014-15.

The assessee in its various grounds of appeal has challenged the order of the CIT(A) sustaining various additions made by the AO.

Facts of the case, in brief, are that the assessee is a company and filed its return of income on 30th September, 2015 declaring a loss of Rs.12,08,80,745/-. The AO completed the assessment u/s 143(3) of the Act determining the total income of the assessee at Rs.9,25,00,603/- wherein after allowing unabsorbed depreciation of equal amount, determined the total income of the assessee at Rs.nil. the AO in the order has made addition of Rs.55,67,640/- being interest free loan given to subsidiary companies and Rs.20,78,13,708/- on account of disallowance u/s 14A. In appeal, the ld.CIT(A) in the ex parte order passed by him, upheld the additions made by the AO.

Aggrieved with such order of the CIT(A), the assessee is in appeal before the Tribunal.