I.T.O. Vs. RASHMI LOGISTICS PVT. LTD.

JUDGEMENT

(1.) THIS appeal by the department is directed against the order dated 24.03.2010 of ld. C.I.T -(A) -IV, Kolkata and pertains to A.Yr. 2006 -07.

(2.) DURING the course of hearing nobody was present on behalf of the assessee. Neither any adjournment petition was moved. Notice of hearing was sent to the assessee through RPAD on 29.10.2014. It appears that the assessee is not interested to prosecute the matter. We, therefore, proceeded to decide the appeal ex parte qua the assessee on merits after hearing the ld. DR.

(3.) THE facts of the case in brief are that the assessee filed its e -return of income on 29.07.2006 declaring a loss of Rs. 18,97,443/ -. Later on the case was selected for scrutiny and the AO framed the assessment at an income of Rs. 6,42,413/ - by disallowing the claim for deduction on account of rent paid to Kolkata Port Trust amounting to Rs. 24,32,998/ -. He also considered the rent from KPT under the head income from House property' and not as business income shown by the assessee. He also disallowed the depreciation.