DEVENDRA S. SHAH, DOMBIVALI V. ACIT CIR 3, KALYAN

ITA 2812/MUM/2017

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 5440 (ITAT-MUMBAI)
• Duration Of Justice: 4 year(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-05-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: Not Allotted
• Assessment Year: 2012-2013
• Appeal Filed On: 19-04-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Opportunity of being heard

Judgement Text

8 DEVENDRA S. SHAH AO, WE ARE REMITTING THE ISSUE BACK TO THE FILE OF THE AO TO REDO THE ASSESSMENT DE NOVO, WE ARE REMITTING BOTH THE ASSESSMENT YEAR UNDER CONSIDERATION TO THE FILE OF ASSESSING OFFICER TO REDO THE ASSESSMENT DE NOVO AFTER GIVING PROPER OPPORTUNITY OF BEING HEARD TO THE ASSESSEE. THIS IS BASED ON THE PRINCIPAL THAT ACTUAL INCOME ALONE CAN BE TAXED AND NOT ON THE NOTIONAL INCOME OR BASED ON PERCEIVED INCOME. AT THE SAME TIME, WE ADVISE THE ASSESSEE ALSO TO COOPERATE WITH THE TAX AUTHORITIES TO COMPLETE THE ASSESSMENT IN DUE COURSE. 8. IN THE RESULT, THE APPEALS FILED BY THE ASSESSEE AND REVENUE ARE ALLOWED FOR STATISTICAL PURPOSE. ORDER PRONOUNCED IN THE OPEN COURT ON 13.05.2021 SD/ - MAHAVIR SINGH VICE PRESIDENT SD/ - S. RIFAUR RAHMAN ACCOUNTANT MEMBER MUMBAI, DATED: 13.05.2021 COPY OF THE ORDER FORWARDED TO : (1) THE ASSESSEE; (2) THE REVENUE; (3) THE CIT(A); (4) THE CIT, MUMBAI CITY CONCERNED; (5) THE DR, ITAT, MUMBAI; (6) GUARD FILE . TRUE COPY BY ORDER PRADEEP J. CHOWDHURY SR. PRIVATE SECRETARY ASSISTANT REGISTRAR ITAT, MUMBAI