SHRI RAJ SHEKHAR AGARWAL,HOWRAH vs. ITO, WARD - 46(1), KOLKATA, KOLKATA

ITA 1443/KOL/2018Status: DisposedITAT Kolkata31 October 2018AY 2014-152 pages

AI SummaryRemanded

What did the Tribunal hold?

The tribunal noted that the CIT(A) passed the order ex parte and did not apply his mind on merits. Therefore, the appeal was restored to the CIT(A) for fresh adjudication.

What were the facts?

The assessee's appeal for AY 2014-15 was against the CIT(A)'s order which disallowed ₹22,11,430/- on account of share transactions. The CIT(A) passed the order ex parte without proper service of notice.

What were the issues?

Whether the CIT(A) followed the proper procedure for ex parte assessment and applied his mind on merits.

Which sections of the Income-tax Act were involved?

Section 250(6),Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “SMC” KOLKATA

Before: Shri S.S, Godara

आदेश /O R D E R This assessee’s appeal for assessment year 2014-15, arises against the Commissioner of Income-tax (Appeals)-14, Kolkata’s order dated 21.05.2018 passed in case No.05/CIT(A)-14/Wd-46(1)/2016-17 affirming the Assessing Officer’s action disallowing an amount of ₹22,11,430/- on account of share transactions out of which an amount of ₹80,500/- is only stated to have been belonged to him in proceedings u/s. 143(3) of the Income Tax Act, 1961; in short ‘the Act’. Heard both the parties. Case file perused.

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