TANTIA AGROCHEMICALS PVT. LTD.,KOLKATA vs. PCIT-2, KOLKATA, KOLKATA

This is an appeal by the Assessee against the order dated 28.03.2016 of Pr.CIT- 2, Kolkata passed u/s 263 of the Income Tax Act, 1961 (Act).

The Assessee is a company engaged in the manufacturing of starch. For A.Y.2011- 12 the AO passed order of assessment u/s 143(3) of the Act dated 20.01.2014. The CIT in exercise of his powers u/s 263 of the Act was of the view that the aforesaid order of AO was erroneous and prejudicial to the interest of the revenue. He therefore issued a show cause notice u/s 263 of the Act. According to the impugned order the show cause notice was sent to the assessee and opportunity was afforded to the assessee to reply to the show cause notice. The appointed date of hearing was 22.03.2016. In the impugned order the CIT it has observed that none appeared on the appointed date nor any written submissions were filed. The CIT thereafter proceeded to hold that the order of AO was erroneous. CIT accordingly directed the AO to examine the admissibility of the claims set forth in the show cause notice u/s 263 of the Act after affording opportunity of being heard to the assessee. 3. Aggrieved by the order of CIT the assessee has filed the present appeal before the Tribunal.

In the result the appeal of the assessee is treated as allowed for statistical purposes.