Kusum Tater Vs. ITO, Ward-47(2), Kolkata

Parties Involved

Facts Summary

The assessee, Kusum Tater, filed a return of income declaring a total income of Rs. 3,19,020/- for the assessment year 2014-15. The case was selected for scrutiny, and the assessee claimed exemption under section 10(38) of the Income Tax Act for long-term capital gains of Rs. 63,20,942/- from the sale of shares. However, the Assessing Officer (AO) denied this exemption, treating the gains as income from other sources due to alleged accommodation entries. Additionally, an addition of Rs. 5,256/- …

Legal Issues

• 1. Validity of the order passed by the CIT(A) before the date of hearing fixed and without considering the submissions filed by the assessee.
• 2. Restoration of the matter back to the CIT(A) as the order was passed on the date of hearing fixed without considering the submissions filed by the assessee.

Precedents Relied Upon

Judgment Outcome