INTER GLOBE FINANCE LIMITED,KOLKATA vs. DEPUTY COMMISSIONER OF INCOME TAX, CC-4(1), KOLKATA

The captioned appeal has been preferred by the assessee against the order dated 22.08.2024 of the Ld. Commissioner of Income Tax, (Appeal), Kolkata-27 [hereinafter referred to as the “Ld. CIT(A)”] passed u/s. 250 of the Income-tax Act, 1961 (hereinafter referred to as the “Act”) for Assessment Year (AY) 2018-19.

The assessee in this appeal is aggrieved by the action of the Ld. CIT(A) in confirming the addition made by the AO for Rs.16,36,602/- on account of interest expenses and further of Rs.15,00,000/- on account of repayment of loan to Anuttar Mercantile Pvt. Ltd.

At the outset, the Ld. Counsel for the assessee has invited our attention to the impugned order of the Ld. CIT(A) to show that the same is an ex parte order of the Ld. CIT(A). It has been pleaded that though the assessee had filed on line adjournment application on 16.08.2024, however, the Ld. CIT(A) ignored the same and passed the impugned order dated 22.08.2024. The Ld. Counsel has pleaded that the assessee has fair case on merit. That the assessee may be given an opportunity to present its case before the Ld. CIT(A). Ld. DR, however, has relied upon the findings of the Ld. CIT(A).

Considering the rival submissions, in our view, the interests of justice will be well served, if the assessee is given an opportunity of hearing before the Ld. CIT(A). The impugned order of the Ld. CIT(A) is set aside and the matter is restored to file of the Ld. CIT(A) for decision afresh. Needless to say that the Ld. CIT(A) will give proper opportunity to the assessee to present its case. It is also directed that the assessee will promptly appear and present its case as and when called for by the Ld. CIT(A). It is also directed that the assessee will duly check the e-mail box regarding notices, if any, sent by the Ld. CIT(A) regarding dates of hearing and will promptly appear and present its case as and when called for by the Ld. CIT(A). With the above observations, the appeal of the assessee is treated as allowed for statistical purposes.