SANJAY H. PANJABI, MUMBAI V. ITO RG 19(3)(4), MUMBAI

ITA 1200/MUM/2012

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 1311 (ITAT-MUMBAI)
• Duration Of Justice: 5 year(s) 1 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-04-2017
• Appeal Filed By: Assessee
• Bench Allotted: E
• Next Hearing Date: 13-04-2017
• Assessment Year: 2006-2007
• Appeal Filed On: 21-02-2012
• Court: TRIBUNAL
• Assessee Lawyers: VAIBHAV D RANE
• Keywords: Opportunity of being heard; Principle of natural justice
• Section: 54

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL E BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN (AM) & SHRI RAMLAL NEGI (JM) I.T.A. NO. 1200 /MUM/20 12 (ASSESSMENT YEAR 20 06 - 07 ) SANJAY H. PANJABI 801, 8 TH FLOOR BUENAVISTA ST. ALEXIOUS ROAD OFF. TURNER ROAD BANDRA WEST M UMBAI - 400 050. VS. ITO 19(3)(4) AAYAKAR BHAVAN M.K. ROAD MUMBAI - 400 020. ( APPELLANT ) ( RESPONDENT ) PAN NO . AEYPP3672D ASSESSEE BY SHRI VAIBHAV D. RANE DEPARTMENT BY S HRI AARSI PRASAD DATE OF HEARING 1 3 .4 . 201 7 DATE OF PRONOUNCEMENT 13 . 4 . 201 7 O R D E R PER B.R. BASKARAN (AM) : - THE APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 26.9.2011 PASSED BY THE LEARNED CIT(A) - 30, MUMBAI AND IT RELATES TO A.Y. 2006 - 07. THE ASSESSEE IS AGGRIEVED BY THE DECISION RENDERED BY THE LEARNED CIT(A) ON THE FOLLOWING ISSUES : - A) REJECTION OF DEDUCT ION CLAIMED U/S. 54 OF THE ACT. B) DISALLOWANCE OF EXPENSES CLAIMED AGAINST INTEREST INCOME. C) DISALLOWANCE OF CLAIM MADE WHILE COMPUTING HOUSE PROPERTY INCOME. D) REJECTION OF CLAIM FOR EXEMPTION OF LON G TERM CAPITAL GAINS. E) ASSESSMENT OF SHORT TERM CAPITAL GAINS AS INCOME FROM OTHER SOURCES. 2. LEARNED COUNSEL APPEARING FOR THE ASSESSEE SUBMITTED THAT THE ASSESSEE COULD NOT PROPERLY SUBMIT THE DETAILS BEFORE THE TAX AUTHORITIES. HE FURTHER SUBMITTED THA T THE REPRESENTATIVES OF THE ASSESSEE ALSO DID NOT PROPERLY REPRESENT THE MATTER BEFORE THE TAX AUTHORITIES. HE SUBMITTED THAT THE ASSESSING OFFICER HAS MADE ADDITIONS ONLY FOR WANT OF EVIDENCE S . HE FURTHER SANJAY H. PANJABI 2 SUBMITTED THAT THE ASSESSEE HAS FURNISHED ALL THE EVIDENCES IN THE PAPER BOOK FILED BEFORE THE TRIBUNAL. ACCORDINGLY, HE SUBMITTED THAT THE MATTER MAY BE RESTORED TO THE FILE OF THE ASSESSING OFFICER FOR EXAMINING ALL THE ISSUES AFRESH. 3. ON THE CONTRARY, LEARNED DEPARTMENTAL REPRESENTATIVE SUBMITTED THAT THE ADDITIONS HAVE BEEN MADE BY THE TAX AUTHORITIES SINCE THE ASSESSEE DID NOT COOPERATE WITH THEM. 4. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE RECORD. WE NOTICED THAT THE ASSESSING OFFICER HAS MADE ALL THE ADDITIONS MAINLY ON ACCOUNT OF NON - FURNISHING ALL THE DETAILS CALLED FOR BY HIM. NOW, LEARNED AR SUBMITTED THAT THE DETAILS HAVE SINCE BEEN COLLATED AND ACCORDINGLY PRAYED THAT ALL THE MATTER MAY BE RESTORED TO THE FILE OF THE ASSESSING OFFICER. IT IS ALSO THE CONTENTION OF THE ASSESSEE THAT THE REPRESENTATIVES WHO APPEARED BEFORE THE TAX AUTHORITIES DID NOT PRESENT THE FACTS PROPERLY . H ENCE , IN THE INTEREST OF NATURAL JUSTICE, WE ARE OF THE VIEW THAT ALL THE ISSUES REQUIRE FRESH EXAMINATION AT THE END OF THE ASSESSING OFFICER BY DULY CO NSIDERING THE INFORMATION/EXPLANATION THAT MAY BE FURNISHED BY THE ASSESSEE. ACCORDINGLY, WE SET ASIDE THE ORDER PASSED BY THE LEARNED CIT(A) ON ALL THE ISSUES AND RESTORE THEM TO THE FILE OF THE ASSESSING OFFICER WITH THE DIRECTION TO EXAMINE THEM AFRESH BY DULY CONSIDERING THE INFORMATION/EXPLANATION S THAT MAY BE FURNISHED BY THE ASSESSEE. AFTER PROVIDING ADEQUATE OPPORTUNITY OF BEING HEARD TO THE ASSESSEE, THE ASSESSING OFFICER MAY TAKE APPROPRIATE DECISION IN ACCORDANCE WITH THE LAW. 5 . IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS TREATED AS ALLOWED FOR STATISTICAL PURPOSES. ORDER HAS BE EN PRONOUNCED IN THE COURT ON 1 3 .4 .201 7. SD/ - SD/ - (RAMLAL NEGI ) (B.R.BASKARAN) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 1 3 / 4 / 20 1 7 SANJAY H. PANJABI 3 COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// ( DY./ASSTT. REGIST RAR) PS ITAT, MUMBAI