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Income Tax Appellate Tribunal, KOLKATA BENCH “C” KOLKATA
Before: Shri S.S.Godara & Dr. A.L. Saini
O R D E R
PER S.S.Godara, Judicial Member:
- This assessee’s appeal for assessment year 2011-12 arises against the Commissioner of Income Tax (Appeals)-19 Kolkata’s order dated 29.11.2017 passed in case No.154/CIT(A)-19/Kol/2015-16, involving proceedings u/s 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Case called twice. None appears at assessee behest. The registry has already sent an RPAD notice dated 13.12.2018 for today’s hearing. It is accordingly proceeded ex parte. We take up the instant appeal on merits.
The assessee’s former substantive ground seeks to revive both the lower authorities action disallowing its loss of ₹,1,30,10,266/- claimed on trading loss in F&O’s transactions to be lacking genuineness. It transpires during the course of hearing that relevant contract notes coming from M/s