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Income Tax Appellate Tribunal, DELHI BENCH ‘G’, NEW DELHI
Before: SH. R.K. PANDA & MS. SUCHITRA KAMBLE
This appeal filed by the assessee is directed against the order dated 28.01.2014 of the CIT (A)-II, New Delhi relating to A. Y. 2009-10.
None appeared on behalf of the assessee at the time of hearing despite service of notice. Therefore, this appeal is being decided on the basis of material available on record and after hearing the Ld. DR.
Facts of the case, in brief, are that the assessee is a company and engaged in the business of share trading. It filed its return of income on 30.09.2009 declaring loss of Rs.1,18,49,427/-. Subsequently the assessee filed a revised return on 26.09.2010 declaring a loss of Rs.90,76,803/-. The Assessing Officer completed the assessment u/s 143 (3) determining the total loss at loss of Rs.89,68,900/- wherein he made addition of Rs.1,07,918/- u/s 14 A and treated the short term capital of Rs.27,72,622/- as business income. Since nobody appeared before the CIT (A), he passed exparte order and dismissed the appeal filed by the assessee by upholding the order of the Assessing Officer.
Aggrieved with such order of the CIT(A), the assessee is in appeal before the Tribunal by raising the following grounds of appeal :-
The order is bad in law, as it has been passed in gross violation of principles of natural justice.
2. Learned assessing officer has erred in adding sum of Rs.1,07,918/- U/s 14A under the given facts and circumstances. 3. Learned assessing officer has erred in treating short terms capital gain as business income and adding sum of Rs.27,72,622/- to the income of the assessee. 4. The Learned Assessing Officer has erred in levying the penalty U/s 271(1) (c ) under the given facts and circumstances. 5. The Appellant may be permitted to add, alter or amend any of the foregoing grounds of appeal.
We have heard the Ld. DR and perused the material available on record. It is an admitted fact that despite number of opportunities given by the CIT (A), the assessee chose not to appear before the CIT (A) for which the Ld. CIT(A) passed the exparte order dismissing the appeal of the assessee. However, considering the totality of the facts of the case and in the interest of justice we deem it proper to restore the matter back to the file of the CIT (A) with the direction to grant one final opportunity to the assessee to substantiate its case. The assessee is also hereby directed to appear before the CIT(A) without seeking any adjournment under any pretext failing which the Ld. CIT (A) is at liberty to pass appropriate order as per law. We hold and direct accordingly. The grounds raised by the assessee are accordingly allowed for statistical purposes.
In the result, the appeal filed by the assessee is allowed for statistical purposes.
Pronounced in the open court at the time of hearing itself i.e. on 12.09.2018.