Ramesh Rajmal Khatod, Nashik V. Income-tax Officer, Nashik

ITA 1370/PUN/2017

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 0143 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 3 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-09-2019
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2013-2014
• Appeal Filed On: 30-05-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: BRINDHA
• Keywords: Capital Gains
• Section: 143(3); 54F; 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI S.S. VISWANETHRA RAVI, J UDICIAL MEMBER . / ITA NO . 1 370 /PUN/201 7 / ASSESSMENT YEAR : 201 3 - 14 SHRI RAMESH RAJMAL KHATOD, 409, GHANKAR LANE, RAVIVAR PETH, NASHIK 422001 PAN : AIOPK5636N ....... / APPELLANT / V/S. THE INCOME TAX OFFICER, WARD 1(2), NASHIK / RESPONDENT ASSESSEE BY : S HRI SANKET JOSHI REVENUE BY : MS. BRINDHA / DATE OF HEARING : 1 9 - 09 - 2019 / DATE OF PRONOUNCEMENT : 24 - 09 - 2019 / ORDER PER S.S. VISWANETHRA RAVI, JM : THIS APPEAL BY THE ASSESSEE AGAINST THE ORDER DATED 20 - 03 - 2017 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS) - 2, NASHIK [CIT(A)] FOR ASSESSMENT YEAR 201 3 - 14 WHEREIN HE DISMISSED THE GROUNDS OF APPEAL EX - PARTE OF ASSESSEE . 2 ITA NO.1 370/PUN/2017, A.Y. 2013 - 14 2. HEARD BOTH PARTIES AND PERUSED THE MATERIALS AVAILABLE ON RECORD. THE FACTS OF THE CASE AS EMANATING FROM THE RECO RDS ARE THAT THE ASSESSEE IS AN INDIVIDUAL AND DERIVES PROFESSIONAL INCOME , INCOME FROM CAPITAL GAINS AND FROM OTHER SOURCES. THE ASSESSEE FILED RETURN OF INCOME DECLARING TOTAL INCOME OF RS.19,40,733/ - . THE ASSESSING OFFICER DETERMINED THE INCOME OF ASS ESSEE AT RS.65,90,920/ - VIDE ITS ORDER DATED 09 - 012 - 2015 PASSED U/S. 143(3) OF THE ACT WHEREIN HE DENIED EXEMPTION U/S. 54F OF THE ACT TO AN EXTENT OF RS.46,50,186/ - . 3. THE ASSESSEE CHALLENGED THE ORDER OF ASSESSING OFFICER BEFORE THE CIT(A) IN FIRST APPELLATE PROCEEDINGS. IT IS OBSERVED FROM THE IMPUGNED ORDER THAT THE CIT(A) ISSUED NOTICES TO THE ASSESSEE BUT HOWEVER NO COMPLIANCES WERE MADE BY THE ASSESSEE. FOR NON - COMPLIANCE , THE CIT(A) DISMISSED THE GROUNDS OF APPEAL EX - PARTE OF ASSESSEE. 4. THE LD. AR, SHRI SANKET JOSHI UNDERTAKES THAT THE ASSESSEE READY TO PROSECUTE ITS GROUNDS BEFORE THE CIT(A) IF THE HONBLE TRIBUNAL REMAND THE MATTER TO THE FILE OF CIT(A). THE LD. DR, MS. BRINDHA REPORTED NO OBJECTION. HAVING CONSIDERING THE FACTS AND C IRCUMSTANCES OF THE CASE IN THE ENDS OF JUSTICE TAKING INTO CONSIDERATION THE SUBMISSIONS OF LD. AR AND LD. DR, WE DEEM IT PROPER TO REMAND THE MATER BACK TO THE FILE OF CIT(A) FOR FRESH CONSIDERATION. IT IS NEEDLESS TO MENTION THAT THE ASSESSEE SHALL CO - OPERATE FOR SPEEDY DISPOSAL OF ITS APPEAL BEFORE THE CIT(A) AND LIBERTY TO FILE EVIDENCES IF ANY IN SUPPORT OF HIS CLAIM. THUS, THE GROUNDS RAISED BY THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSE. 3 ITA NO.1 370/PUN/2017, A.Y. 2013 - 14 5. IN THE RESULT, THE APPEAL OF ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT ON 24 TH SEPTEMBER, 2019. SD/ - SD/ - ( R.S. SYAL ) ( S.S. VISWANETHRA RAVI ) VICE PRESIDENT JUDICIAL MEMBER / PUNE; / DATED : 24 TH SEPTEMBER, 2019 RK / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 2, NASHIK 4. THE PR. COMMISSIONER OF INCOME TAX - 1, NASHIK 5. , , , / DR, ITAT, B BENCH, PUNE. 6. / GUARD FILE. // // TRUE COPY// / BY ORDER, / PRIVATE SECRETARY, , / ITAT, PUNE