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Income Tax Appellate Tribunal, KOLKATA BENCH “A” KOLKATA
Before: Shri J.Sudhakar Reddy & Shri S.S.Godara
O R D E R
PER S.S.Godara, Judicial Member:
- This assessee’s appeal for assessment year 2012-13 arises against the Commissioner of Income Tax (Appeals)-23, Kolkata’s order dated 03.05.2017 passed in case No.104/CIT(A)-23/W-5(3)/16-17 involving proceedings u/s 144 of the Income Tax Act, 1961; in short ‘the Act’. Case called twice. None appears at assessee’s behest despite the fact that the registry has already sent it an RPAD notice dated 31.10.2018. It is accordingly proceeded ex parte.
We now come to assessee’s pleadings. It has raised two substantive grounds in the instant appeal. Its former grievance challenges correctness of both the lower authorities’ action treating its share / premium amount of ₹20,73,01,000/- as unexplained cash credits u/s 68 of the Act. Its latter substantive ground seeks to delete u/s 14A r.w.s. Rule 8D disallowance of ₹18,650/- made in the course of assessment as upheld in lower appellate proceedings. We find that the assessee had not put in appearance in lower appellate