SHRISTI VINCOM(P)LTD,KOLKATA vs. ITO, KOLKATA

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ITA 886/KOL/2023Status: DisposedITAT Kolkata20 June 2024AY 2014-15Bench: DR. MANISH BORAD, HON’BLE (Accountant Member), SHRI PRADIP KUMAR CHOUBEY, HON’BLE (Judicial Member)4 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal restored the issues on merits to the file of the CIT(A) for fresh adjudication. This was to ensure that the remand report and other relevant details were considered, providing a fair opportunity to both parties.

What were the facts?

The assessee's appeals for AY 2013-14 and 2014-15 involved additions for alleged bogus loss from share transactions. The CIT(A) had not considered a remand report submitted by the AO, which was crucial for adjudicating the issues.

What were the issues?

Whether the CIT(A) erred by not considering the remand report submitted by the AO before passing the appellate orders. The appeals involved the issue of alleged bogus loss from share transactions.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC” BENCH, KOLKATA

Before: DR. MANISH BORAD, HON’BLE & SHRI PRADIP KUMAR CHOUBEY, HON’BLE

For Appellant: Shri Anil Kochar, Advocate
Hearing: 01/05/2024Pronounced: 20/06/2024

O R D E R

PER DR. MANISH BORAD, ACCOUNTANT MEMBER :

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