M/S. WIZARD TRADERS PVT. LTD., ,KOLKATA vs. ITO, WARD - 6(4) , KOLKATA

The assessee in the present case is a non-Banking Finance Company, which is also engaged in share trading business. The return of income for the year under consideration was filed by it on 14.09.2014 declaring total income of Rs.2,89,955/-. In the assessment completed under section 143(3) vide an order dated 16.12.2016, the total income of the assessee was determined by the Assessing Officer at Rs.12,68,866/- (Assessment Year: 2014-2015) M/s. Wizard Traders Pvt. Limited after making the additions of Rs.9,68,687/- and Rs.10,224/- on account of disallowance of long-term capital loss and disallowance under section 14A respectively.

Against the order passed by the Assessing Officer under section 143(3), an appeal was preferred by the assessee before the ld. CIT(Appeals) and since there was no satisfactory compliance to the notices issued by him fixing the said appeal for hearing from time to time, the ld. CIT(Appeals) dismissed the appeal of the assessee for non- prosecution vide his appellate order dated 23.10.2018 passed ex-parte. Aggrieved by the order of the ld. CIT(Appeals), the assessee has preferred this appeal before the Tribunal.

I have heard the arguments of both the sides and also perused the relevant material available on record. The ld. Counsel for the assessee has submitted that even though the appeal of the assessee was fixed for hearing by the ld. CIT(Appeals) on four occasions, the assessee sought adjournment on the last date of hearing fixed on 23.10.2018. He has submitted that when the assessee came to know about the rejection of his request of adjournment by the ld. CIT(Appeals), a written submission was prepared and filed by it on 24.10.2018. He has contended that the ld. CIT(Appeals), however, dismissed the appeal of the assessee vide his impugned order passed ex-parte on 23.10.2018 itself without going into the merit of the case and without considering the written submission filed by the assessee on 24.10.2018. He has urged that the matter may, therefore, be sent back to the ld. CIT(Appeals) for deciding the same on merit after considering the written submission filed by the assessee. Keeping in view all the facts and circumstances of the case, I am inclined to accept the request made on behalf of the assessee and since the ld. D.R. has also not raised any objection in sending the matter back to the ld. CIT(Appeals), I set aside the impugned order passed by the ld. CIT(Appeals) ex-parte and remit the matter back to him for deciding the (Assessment Year: 2014-2015) M/s. Wizard Traders Pvt. Limited same afresh on merit after giving one more opportunity of being heard to the assessee.

In the result, the appeal of the assessee is treated as allowed for statistical purposes. Order pronounced in the open Court on May 06, 2019.