Selehium Trading Pvt. Ltd., , Kolkata V. ITO, Ward - 1(3), Kolkata , Kolkata

ITA 1599/KOL/2018

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 2226 (ITAT-KOLKATA)
• Duration Of Justice: 3 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-11-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 25-07-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ROBIN CHOUDHUR Y
• Assessee Lawyers: MIRAJ D. SHAH
• Section: 143(3); 14A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH SMC KOLKATA BEFORE SHRI S.S, GODARA, JUDICIAL MEMBER ITA NO.1599/KOL/2018 ASSESSMENT YEAR:2012-13 SELEHIUM TRADING PVT. LTD., 41, B.B.GANGULY STREET, UNIT NO.A7, 1 ST FLOOR, BOWBAZAR, KOLKATA-700012 [ PAN NO.AADCS 7717 E ] / V/S . INCOME TAX OFFICER, WARD-1(3), AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATAS-69 /APPELLANT .. /RESPONDENT /BY APPELLANT SHRI MIRAJ D SHAH, ADVOCATE /BY RESPONDENT SHRI ROBIN CHOUDHURY, ADDL. CIT-DR /DATE OF HEARING 05-11-2018 /DATE OF PRONOUNCEMENT 16-11-2018 /O R D E R THIS ASSESSEES APPEAL FOR ASSESSMENT YEAR 2012-13 , ARISES AGAINST THE COMMISSIONER OF INCOME-TAX (APPEALS)-1, KOLKATAS O RDER DATED 29.05.2018 PASSED IN CASE NO.1687/CIT(A)-1/WARD-1(3)/2015-16 INVOLVING PROCEEDINGS U/S. 143(3) OF THE INCOME TAX ACT, 1961; IN SHORT THE ACT. 2. IT IS NOTICED AT THE OUTSET THAT THE CIT(A) HAS PASSED HIS LOWER APPELLATE ORDER EX PARTE THEREBY AFFIRMING ASSESSING OFFICERS ACTI ON INVOKING SEC.36(1)(III) R.W.S 14A R.W.S. 8D DISALLOWING OF LOSS IN FOREIGN EXCHANGE T HROUGH MCX INVOLVING RESPECTIVE FIGURES OF 13,26,921/-, 66,365 & 16,36,911/- RESPECTIVELY. MR. CHOUDHURYS CASE IS THAT CIT(A) HAS RIGHTLY UPHELD THE ASSESSMENT FINDI NGS SINCE THE ASSESSEE HAD NOT PUT IN APPEARANCE DURING THE LOWER APPELLATE PROCEEDING S. I FIND THAT CIT(A) HAS DECLINED THE ASSESSEES APPEAL NOT ON MERITS BUT ON ACCOUNT OF NON-APPEARANCE. I THEREFORE ITA NO.1599/KOL/2018 A.Y. 2012-13 SELEHIUM TRADING PVT. LTD. VS. ITO WD--1(3 ) KOL. PAGE 2 DEEM IT APPROPRIATE IN THIS FACTS AND CIRCUMSTANCES THAT ON LARGER INTEREST WOULD BE MADE IN CASE THE CIT(A) HAS ADJUDICATED ALL THE THR EE ISSUES ON MERITS AFTER AFFORDING ADEQUATE OPPORTUNITIES OF HEARING. THE ASSESSEE HAD NOT SOUGHT ANY ADJOURNMENT IN THE IMPUGNED SECOND ROUND AS A MATTER OF ROUTINE. 3. THIS ASSESSEES APPEAL IS ACCEPTED FOR STATISTIC AL PURPOSE. ORDER PRONOUNCED IN OPEN COURT ON 16 /11/2018 SD/- (S.S. GODARA) JUDICIAL MEMBE R KOLKATA, *DKP/SR.PS - 16/11/2018 / COPY OF ORDER FORWARDED TO:- 1. /APPELLANT-SELEHIUM TRADING PVT. LTD, 41, B.B.GANGU LY STREET, UNIT NO.A7, 1 ST FLOOR, BOWBAZAR, KOLKATA-12 2. /RESPONDENT-ITO WARD-1(3),AAYAKAR BHAWAN, P-7, CHOW RINGHEE SQ. KOL-69 3. ' % / CONCERNED CIT 4. % - / CIT (A) 5. & ))' , ' / DR, ITAT, KOLKATA 6. + / GUARD FILE. BY ORDER/ , /TRUE COPY/ / ',