ATUL I. BORA, MUMBAI V. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-17(1), MUMBAI

ITA 5021/MUM/2017

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 0227 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 4 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-12-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 24-07-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SATISH CHANDRA RAJORE LD J
• Keywords: Principle of natural justice
• Section: 143(3); 68

Judgement Text

ITA NO.5021/MUM/2017 ATUL I.BORA ASSESSMENT YEAR-2012-13 IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI , , BEFORE HONBLE SHRI MAHAVIR SINGH, JM AND HONBLE SHRI MANOJ KUMAR AGGARWAL, AM ./I.T.A. NO.5021/MUM/2017 ( / ASSESSMENT YEAR: 2012-13) A TUL I.BORA 919, MAKER CHAMBER-V 9 TH FLOOR, NARIMAN POINT MUMBAI-400 021 / VS. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-17(1) R.NO.117, 1 ST FLOOR AAYKAR BHAWAN, M.K.ROAD MUMBAI-400 020 ./PAN : ABBPB-3098-B ( /APPELLANT ) : ( ! / RESPONDENT ) ASSESSEE BY : NONE REVENUE BY : SATISH CHANDRA RAJORE, LD. JCIT-DR / DATE OF HEARING : 29/11/2018 / DATE OF PRONOUNCEMENT : 05/12/2018 / O R D E R PER MANOJ KUMAR AGGARWAL (ACCOUNTANT MEMBER) 1. AFORESAID APPEAL BY ASSESSEE FOR ASSESSMENT YEAR [AY] 2012-13 AGITATE THE EX-PARTE ORDER OF FIRST APPELLATE AUTHORITY QUA CONFIRMATION OF CERTAIN ADDITIONS. IN THE GROUNDS OF APPEAL, THE AS SESSEE HAS ALSO ITA NO.5021/MUM/2017 ATUL I.BORA ASSESSMENT YEAR-2012-13 2 CONTESTED THE SAME ON THE GROUND THAT ADEQUATE OPPO RTUNITY OF BEING HEARD WAS NOT PROVIDED TO THE ASSESSEE. NONE HAS AP PEARED FOR ASSESSEE DESPITE NOTICE AND NO VALID ADJOURNMENT AP PLICATION IS ON RECORD. FINDING NO REASON TO KEEP THE APPEAL PENDIN G, WE DISPOSE-OFF THE SAME ON THE BASIS OF MATERIAL AVAILABLE ON RECO RD AND AFTER HEARING LD. DEPARTMENTAL REPRESENTATIVE [DR] WHO HAS PLEADE D FOR CONFIRMATION OF THE IMPUGNED ORDER. 2. BRIEFLY STATED, THE ASSESSEE BEING RESIDENT INDIVIDUAL ENGAGED IN TRADING OF SHARES AND CONSULTANCY WAS ASSESSED FOR IMPUGNED AY U/S 143(3) 28/03/2015 AT RS.19.56 CRORES AFTER CERTAIN ADDITIONS U/S 68 AS AGAINST RETURNED INCOME OF RS.31.94 LACS FILED BY T HE ASSESSEE ON 29/04/2013. 3. THE STAND OF LD. AO WAS CONTESTED BY THE ASSESSE E WITHOUT ANY SUCCESS VIDE IMPUGNED ORDER DATED 03/04/2017 WHEREI N THE ASSESSEE FAILED TO ATTEND THE APPELLATE PROCEEDINGS AND THER EFORE, THE ADDITIONS WERE CONFIRMED EX-PARTE QUA THE ASSESSEE. AGGRIEVED THE ASSESSEE IS IN FURTHER APPEAL BEFORE US WHEREIN IT IS FOUND THAT T HE ASSESSEE HAS AGAIN REMAINED NEGLIGENT IN ATTENDING THE PROCEEDINGS. 4. UPON DUE CONSIDERATION OF FACTUAL MATRIX, KEEPIN G IN VIEW THE PRINCIPLE OF NATURAL JUSTICE AND IN VIEW OF THE FAC T THAT THE ASSESSEE IS AN INDIVIDUAL AND SUFFERED HUGE ADDITIONS, WE DEEM IT FIT TO PROVIDE ANOTHER OPPORTUNITY TO THE ASSESSEE TO SUBSTANTIATE HIS STA ND BEFORE FIRST APPELLATE AUTHORITY. THEREFORE, THE MATTER STAND RE MITTED BACK TO THE FILE OF LD. CIT(A) FOR RE-ADJUDICATION WITH A DIRECTION TO THE ASSESSEE TO SUBSTANTIATE HIS STAND FAILING WHICH LD. CIT(A) SHA LL BE AT LIBERTY TO DISPOSE-OFF THE SAME ON THE BASIS OF MATERIAL AVAIL ABLE ON RECORD. ITA NO.5021/MUM/2017 ATUL I.BORA ASSESSMENT YEAR-2012-13 3 NEEDLESS TO ADD THAT REASONABLE OPPORTUNITY OF BEIN G HEARD SHALL BE PROVIDED TO THE ASSESSEE. 5. THE APPEAL STANDS ALLOWED FOR STATISTICAL PURPOS ES IN TERMS OF OUR ABOVE ORDER. ORDER PRONOUNCED IN THE OPEN COURT ON 05 TH DECEMBER, 2018 SD/- SD/- (MAHAVIR SINGH) (M ANOJ KUMAR AGGARWAL) / JUDICIAL MEMBER / ACCOUNTANT MEMBER MUMBAI; DATED :05/12/2018 SR.PS:-JAISY VARGHESE ! / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. ! / THE RESPONDENT 3. ( ( ) / THE CIT(A) 4. ( / CIT CONCERNED 5. )* #+ , + , / DR, ITAT, MUMBAI 6. *,-. / GUARD FILE / BY ORDER, / (DY./ASSTT.REGISTRAR) , / ITAT, MUMBAI.