Sri. K Gopal Raju, Bangalore V. ITO, Bangalore

ITA 1096/BANG/2016

• Counselvise Citation: [2017] 130 COUNSELVISE.COM (IT) 8490 (ITAT-BANGALORE)
• Duration Of Justice: 9 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-03-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 09-03-2017
• Assessment Year: 2001-2002
• Appeal Filed On: 27-05-2016
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Opportunity of being heard; Set aside; Capital Gains
• Section: 32; 147; 131; 68; 246; 69; 145; 27; 148; 54; 37; 6; 56; 263; 63; 132; 12; 28; 144; 10; 90; 154; 2; 11; 15; 271(1)(b); 139; 92

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K., JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER ITA NO. 1096/BANG/2016 ASSESSMENT YEAR : 2001-02 SHRI K. GOPAL RAJU, L/R OF LATE SRI A S KUPPA RAJU, # 104, R V LAYOUT, KUMARA PARK WEST, BANGALORE 560 020. PAN: AESPK 0724K VS. THE INCOME-TAX OFFICER, WARD-6[2], BANGALORE. APPELLANT RESPONDENT APPELLANT BY : SHRI NARENDRA SHARMA, ADVOCATE RESPONDENT BY : SHRI M.K. BIJU, JCIT(DR) DATE OF HEARING : 09.03.2017 DATE OF PRONOUNCEMENT : 09.03.2017 O R D E R PER GEORGE GEORGE K., JUDICIAL MEMBER THIS APPEAL AT THE INSTANCE OF ASSESSEE IS DIRECTE D AGAINST CIT(A) ORDER DATED: 31.03.2016. THE RELEVANT ASSESSMENT Y EAR IS 2001-02. ITA NO. 1096/BANG/2016 PAGE 2 OF 3 2. THE SOLITARY ISSUE RAISED IN THIS APPEAL IS WHETHER THE AO IS JUSTIFIED IN DISMISSING THE RECTIFICATION APPLICATION FOR RE-COM PUTATION OF INCOME ON LONG TERM CAPITAL GAINS AND WHETHER THE CIT(A) IS J USTIFIED IN CONFIRMING THE SAME. 3. THE LD. AR OF THE ASSESSEE SUBMITTED THAT THE ORDER PASSED BY THE AO IS NOT A REASONED AND SPEAKING ORDER AND THEREFORE, TH E MATTER SHOULD BE RESTORED TO AO FOR PASSING A REASONED AND SPEAKING ORDER. IT WAS SUBMITTED BY THE LD. COUNSEL FOR THE ASSESSMENT YEA R 2002-03 A SIMILAR ORDER WAS PASSED BY THE AO AND THE ORDER OF THE HON BLE TRIBUNAL HAS SET ASIDE THE SAME AND RESTORED THE ISSUE TO THE AO FOR PASSING A SPEAKING ORDER. THE LD. DR SUPPORTED THE ORDERS OF THE INCO ME TAX AUTHORITIES. 4. WE HAVE CONSIDERED THE RIVAL SUBMISSIONS AND PERUSE D THE MATERIAL ON RECORD. WE FIND THAT AS PER THE ORDER PASSED BY TH E AO, THERE IS NO BASIS OR REASONING INDICATED BY HIM FOR HOLDING THAT THER E IS NO MISTAKE APPARENT FROM RECORDS AND HENCE, WE FEEL IT PROPER TO RESTORE THE MATTER TO AO FOR PASSING A REASONED AND SPEAKING ORDER. WE O RDER ACCORDINGLY. THE AO SHOULD PASS A REASONED AND SPEAKING ORDER AS PER LAW AFTER AFFORDING ADEQUATE OPPORTUNITY OF BEING HEARD TO TH E ASSESSEE. ITA NO. 1096/BANG/2016 PAGE 3 OF 3 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALLOWE D FOR STATISTICAL PURPOSES. PRONOUNCED IN THE OPEN COURT ON THIS 09 TH DAY OF MARCH, 2017 SD/- SD/- (S. JAYARAMAN) (GEORGE GEO RGE K.) ACCOUNTANT MEMBER JUDICIAL MEMBER BANGALORE, DATED, THE 09 TH MARCH, 2017. / MS/ COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE.