R.Srinivas , Bangalore V. The Income Tax Officer ward-10(2), Bangalore

ITA 1715/BANG/2017

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 4589 (ITAT-BANGALORE)
• Duration Of Justice: 9 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-06-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 22-08-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: B R RAMESH J
• Assessee Lawyers: PRATIBHA
• Section: 143(3); 148

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, B ENGALURU BEFORE S HRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER I TA NO. 1715 / BANG/2 0 1 7 (ASSESSMENT YEAR: 2008 - 09 ) SHRI R.SRINIVAS , NO.29, ST.MARTHAS HOSPITAL RO AD, UTTARAHALLI, SUBRAMANYAPURA POST, BENGALURU - 560061. PAN: ATJPS 1930 P VS. APPELLANT INCOME - TAX OFFICER, WARD 10(2), BENGALURU. RESPONDENT APPELLANT BY : SMT.PRATIBHA, ADVOCATE. RESPONDENT BY : SHRI B.R.RAMESH, JCIT(DR) DAT E OF HEARING : 07/06/2018 DATE OF PRONOUNCEMENT : 15 /06/2018 O R D E R PER I NTURI RAMA RAO, AM : THIS IS AN APPEAL FILED BY THE ASSESSEE DIRECTED AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME - TAX (APPEALS) - 3 , [CIT(A)] BANGALORE, D ATED 30 / 12 /201 6 FOR THE ASSESSMENT YEAR 20 08 - 09 . 2. THE ASSESSEE RAISED THE FOLLOWING GROUNDS OF APPEAL: ITA NO . 1715 /BANG/20 17 PAGE 2 OF 3 ITA NO . 1715 /BANG/20 17 PAGE 3 OF 3 3. BRIEFLY, THE FACTS OF THE CASE ARE THAT THE ASSESSEE IS AN INDIVIDUAL. THE RETURN OF INCOME FOR THE ASSESSMENT YEAR 2008 - 09 WAS FILED ON 16/02/2009 DECLARING TOTAL INCOME OF RS.1,88,309/ - . THE CASE WAS REOPENED BY ISSUING NOTICE U/S 148 AND THE ASSESSMENT WAS FINALLY CAME TO BE COMPLETED U/S 143(3) R.W.S. 147 AT TOTAL INCOME OF RS.12,26,280/ - AFTER MAKING ADDITION ON ACCOUNT OF SHORT TE RM CAPITAL GAIN OF RS.7,36,466/ - . 3. BEING AGGRIEVED, AN APPEAL WAS PREFERRED BEFORE THE LD.CIT(A), WHO , VIDE IMPUGNED ORDER , PARTLY ALLOWED RELIEF. 4. BEING AGGRIEVED, THE ASSESSEE IS BEFORE US. 5. WE HEARD RIVAL SUBMISSIONS AND PERUSED MATE RIAL ON RECORD. AFTER PERUSING THE MATERIAL ON RECORD, IT IS CLEAR THAT THE AO HAD COMPLETED THE ASSESSMENT WITHOUT GIVING PROPER OPPORTUNITY TO THE ASSESSEE TO PROVE GENUINENESS OF THE TRANSACTION S . THEREFORE, WE REMIT THIS ISSUE BACK TO THE FILE OF THE AO FOR DE NOVO ASSESSMENT IN ACCORDANCE WITH LAW AFTER GIVING DUE OPPORTUNITY OF HEARING TO THE ASSESSEE . 6. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 15 TH JUNE, 2018 SD/ - SD/ - (SUNIL KUMAR YADAV) (INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT MEMBER PLACE : BENGALURU. D A T E D : 15/06/2018 S RINIVASULU, SPS COPY TO : 1 APPELLANT 2 RESPONDENT 3 CIT(A) 4 CIT 5 DR, ITAT, BANGALORE. 6 GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY INCOME - TAX APPELLATE TRIBUNAL BANGALORE