M/S. PARK LEATHER COMPANY,KOLKATA vs. ACIT, CIRCLE - 31, KOLKATA, KOLKATA

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ITA 1507/KOL/2017Status: DisposedITAT Kolkata31 December 2018AY 2013-142 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the CIT(A)'s order lacked detailed adjudication and did not discuss the case facts. Therefore, the appeal was restored to the CIT(A) for fresh adjudication on merits.

What were the facts?

The assessee challenged the disallowance of its short-term capital loss by the lower authorities. The CIT(A) had passed an ex parte order affirming the Assessing Officer's disallowance without discussing the relevant facts.

What were the issues?

Whether the CIT(A) properly adjudicated the appeal by not discussing the facts and providing a detailed adjudication. Whether the ex parte order passed by the CIT(A) was justified.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 250(6)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “A” KOLKATA

Before: Shri S.S.Godara & Shri, M. Balaganesh

O R D E R

PER S.S.Godara, Judicial Member:

1.

- This assessee’s appeal for assessment year 2013-14 arises against Commissioner of Income Tax (Appeals)-9 Kolkata’s order dated 23.03.2017 passed in case No.359/CIT(A)-9/Cir-31/2015-16/Kol involving proceedings u/s 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file perused.

2.

The assessee’s sole substantive grievance challenges both the lower authorities action disallowing / adding its short term capital loss of ₹5,62,63,659/- in the course of assessment as affirmed in CIT(A)’s lower appellate order passed ex parte. We notice at the outset that the CIT(A)’s order has stated to have issued three hearing notice(s) 02.11.2016, 22,12,2016 & 22.03.2017 before upholding Assessing Officer’s action disallowing assessee’s capital loss in issue. It is an admitted fact that CIT(A)

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