Tristar Fashions Vs ACIT

Last updated: 30 December 2020

Court :
ITAT Mumbai

Brief :
The captioned appeal by the assessee is against the order dated 8th April 2019, passed by the learned Commissioner of Income Tax (Appeals)–28, Mumbai, for the assessment year 2015–16.

Citation :
ITA no.3521/Mum./2019

IN THE INCOME TAX APPELLATE TRIBUNAL
“E" BENCH, MUMBAI

BEFORE SHRI SAKTIJIT DEY, JUDICIAL MEMBER AND
SHRI N.K. PRADHAN, ACCOUNTANT MEMBER

ITA no.3521/Mum./2019
(Assessment Year : 2015–16)

Tristar Fashions
C/o Shankarlal Jain & Associates
12, Engineering Building
265, Princess Street
Mumbai 400 013
PAN – AAAFT0077E
……………. Appellant

v/s

Asstt. Commissioner of Income Tax
Circle–17(3), Mumbai
……………. Respondent

Assessee by : None
Revenue by : Shri Amit Pratap Singh
Date of Hearing – 30.09.2020 Date of Order – 07.10.2020

O R D E R

PER SAKTIJIT DEY. J.M.

The captioned appeal by the assessee is against the order dated 8th April 2019, passed by the learned Commissioner of Income Tax (Appeals)–28, Mumbai, for the assessment year 2015–16.

2. When the appeal was called for hearing, no one was present on behalf of the assessee to represent the case. There is no application seeking adjournment either. Considering the nature of dispute, we proceed to dispose off the appeals ex–parte qua the assessee after hearing the learned Departmental Representative and on the basis of material available on record.

3. As could be seen from the grounds raised in this appeal, the grievance of the assessee is against non–consideration of its claim of taxability of long term capital gain arising on sale of depreciable asset at 20% instead of 30%.

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