MADHU S. JHUNJHUNWALA,MUMBAI vs. ACIT CEN CIR 11, MUMBAI

ITA 6541/MUM/2010Status: DisposedITAT Mumbai14 March 2016AY 2007-082 pages

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

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal heard the DR and perused the records. Since the assessee failed to furnish any material to challenge the CIT(A)'s reasoned order on share transactions and cash credits, the CIT(A)'s order was confirmed.

What were the facts?

The assessee's appeal was against the order of the CIT(A) for AY 2007-08. The assessee did not appear for the hearing despite proper notice.

What were the issues?

The appeal involved the issues of loss incurred in share transactions and unexplained cash credits.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, MUMBAI

Hearing: 14.3.2016Pronounced: 14.3.2016

अऩीरधथी ओय से / Appellant by None प्रत्मथी की ओय से/ Respondent by Shri N P Singh सुनवधई की तधयीख / Date of Hearing : 14.3.2016 घोषणध की तधयीख /Date of Pronouncement: 14.3.2016 आदेश / O R D E R Per B R Baskaran, AM:

The appeal filed by the assessee is directed against the order dated 17.6.2010 passed by the ld.CIT(A)-37, Mumbai and it relates to the assessment year 2007-08.

None appeared on behalf of the assessee even though the notice was served to the assessee by RPAD earlier. Hence, we proceed to dispose of the appeal ex-parte without the presence of the assessee.

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