2015 (12) TMI 26

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....d, Accountant Member This appeal by the Revenue is arising out of order of Commissioner of Income Tax (Appeals)-IV, Kolkata in appeal No.185/CIT(A)-IV/06-07 dated 09.04.2008. Assessment was framed by ACIT, Circle-4, Kolkata u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') vide his order dated 29.12.2006 for assessment year 2004-05. Revenue has following grou....

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....ce no provision in the Profit & Loss A/c. was made A.O disallowed by stating that when the interest amount is not ascertainable there can be no quantification of interest. 5. That the Ld. CIT(A) had erred in deleting the addition of Rs. 9,58,86,086/- on account of notional interest. Assessee had given loans to certain companies/persons and did not charge any interest. A.O calculated the i....

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.... Ld. Departmental Representative appearing on behalf of Revenue. 2. At the outset, Ld. DR submitted that Ld. CIT(A) has passed order in contravention of Sec. 250(2) of the Act and stated that the AO has not been given the opportunity of being heard at the time of hearing before the CIT(A). As per the section 250(2) of the Act the AO has right to attend the hearing but the CIT(A) has not issued ....

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....- "250(1) The [Commissioner (Appeals)] shall fix a day and place for the hearing of the appeal, and shall give notice of the same to the appellant and to the [Assessing] Officer against whose order the appeal is preferred. (2) The following shall have the right to be heard at the hearing of the appeal - (a) the appellant, either in person or by an authorised representati....