2005 (2) TMI 107

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....ses out of an order passed by the Income-tax Appellate Tribunal, Kochi Bench, in I.T.A. Nos. 68 and 109/Coch/98 and also against the order dated February 7, 2003, in M.P. No. 53/Coch/2002. The appellant-assessee is a firm consisting of three partners. The firm had filed its return for the assessment year 1994-95 on August 31, 1994. The assessee had claimed a loss of Rs. 6,63,630. While completi....

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....landlords to the effect that at least one member from the family would be given employment in the proposed factory. The project did not materialise due to various reasons. M/s. Sunflag Nylons Limited had then proposed to sell the land to realise the investment. For the said purpose they had entered into an agreement with the assessee. As per the said agreement, the assessee had to pay a sum of Rs.....

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....ed into three. The first category of persons are unrelated to the partners of the firm, the second category are the partners themselves and the third category of persons were treated as benamis of the partners. The Assessing Officer completed the assessment accordingly. The petitioner took up the matter in appeal before the Commissioner of Income-tax (Appeals). The Commissioner as per order dated ....

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....d they were posted for hearing on various occasions. On November 27, 2001 when the appeal was taken up for hearing, there was no appearance on behalf of the assessee and the Tribunal suo motu posted the appeals for hearing and disposal to January 16, 2002. Though application for adjournment was preferred on January 16, 2002, the same was declined and the appeals were disposed of by common order on....