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

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ITA 1212/DEL/2019Status: DisposedITAT Delhi17 November 2020AY 2015-163 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the issue to the CIT(A) with a direction to grant one final opportunity to the assessee to present its case. The assessee was directed to appear and substantiate its claims.

What were the facts?

The assessee company filed a return declaring a loss. The AO made additions for interest-free loans to subsidiaries and disallowance under Section 14A. The CIT(A) upheld these additions in an ex parte order.

What were the issues?

Whether the CIT(A) erred in passing an ex parte order without granting sufficient opportunity to the assessee to present its case.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCHES : G : NEW DELHI

Before: SHRI R.K. PANDA & MS SUCHITRA KAMBLE

For Appellant: Shri Rohit Jain, Advocate
For Respondent: Ms Shivani Bansal, Sr. DR
Hearing: 17.11.2020Pronounced: 17.11.2020

ORDER

PER R.K. PANDA, AM:

1.

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.

2.

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

3.

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.

4.

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

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