THE JUTE CORPORATION OF INDIA LTD.,,KOLKATA vs. ACIT, CIRCLE - 1(2), KOLKATA, KOLKATA

- This assessee’s appeal for assessment year 2012-13 arises against the Commissioner of Income Tax (Appeals)-1, Kolkata’s order dated 23.02.2018, passed in case No. 1008814706(1)/APL/S/APL-1/2017-18 involving proceedings u/s 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Case called twice. None appears at the assessee’s behest. We accordingly we dispose of the appeal ex parte after hearing the learned CIT-DR.

With the able assistance of learned CIT-DR, we notice at the outset that the CIT(A)’s lower appellate order under challenge affirming the Assessing Officer’s action inter alia disallowing / adding invoking sec. 43(B) disallowance of ₹4,80,95,284/- and ₹8,05,59,686/- in the nature of provision of gratuity treated as Assessment Year:2012-13 The JCI Ltd. Vs. ACIT,Cir-1(2) Kol. Page 2 unascertained or contingent liability not considering the carry forward business loss of ₹9,01,93,657/- pertaining to assessment year 2011-12 for set off in the impugned assessment year as well as in not finalizing computation sec. 115JB(1) computation has been passed ex parte without dealing with merits of the said four folded issues followed by a detailed adjudication as contemplated u/s. 250(6) of the Act.