ABHISHEK KUMAR PANDEY, PATNA V. ITO WARD-1(5), RANCHI

ITA 59/RAN/2023

• Counselvise Citation: [2024] 130 COUNSELVISE.COM (IT) 1538 (ITAT-RANCHI)
• Duration Of Justice: 1 year(s) 5 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 10-09-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 28-03-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: P. K. KOLEY
• Keywords: Set aside; Additional evidence; Principle of natural justice
• Section: 143(3)

Judgement Text

आयकर अपीलȣय अͬधकरण, राँची Ûयायपीठ, राँ ची IN THE INCOME TAX APPELLATE TRIBUNAL RANCHI BENCH, RANCHI BEFORE SHRI PARTHA SARATHI CHAUDHURY, J M AND SHRI PRABHASH SHANKAR, AM आयकर अपील सं./IT A No .59/RAN/2023 (Ǔनधा[रण वष[ / Assessment Year :20 14 -15 ) Abhishek Kr. Panday, Patna, Vs. IT O, Ward -1(5) , Ranchi èथायी लेखा सं./जीआइआर सं./ PAN/GIR No. : AXBPP5886H (अपीलाथȸ /Appellant) : (Ĥ×यथȸ / Respondent) राजèव कȧ ओर से /Revenue by : Shri P. K. Koley, Sr.DR िनधाŊįरती की ओर से /As sessee by : Shri Devesh Poddar. A . R स ु नवाई कȧ तारȣख / Date of Hearing : 10 /0 9/20 24 घोषणा कȧ तारȣख/Date of Pronouncement : 11 /0 9/20 24 आदेश / O R D E R Per Partha Sarathi Chaudhury, JM : This appeal preferred by the assessee emanates from the order of CIT(A)/NFAC, dated 31.01.2023, for assessment year 2014-2015 as per the grounds of appeal on record. 2. In this case the assessment was completed by the AO u/s 143(3) of the Act disallowing income from share trading of ₹37,71,270/-. There was no compliance by the assessee before the A O regarding this issue in dispute. That before the NFAC written submissions have been made by the assessee. It was observed by NFAC at para 6.1 of its order that in ITA No. 59/Ran/20 23 2 both equity as well as F & O statements submitted by the assessee, the name of one Shri Rajeev Kumar is mentioned and hence these documents do not pertain to the assessee. Accordingly the addition was confirmed. 3. At the time of hearing the Ld. A R for the assessee submitted additional evidences. The Ld. A R stated that the order of NFAC was passed on 31.01.2023 whereas these additional evidences could be procured by the assessee on 23.04.2024. The ld. A R prayed that these additional evidences may be visited by the NFAC for substantive adjudication of the case on merits. The ld.D R conceded to the prayer of the assessee. 4. Having heard the parties herein, we are of the considered view that consolidated investment portfolio dated 23.04.2024 as submitted by the assessee before this Bench is in the form of additional evidences since NFAC didn't had any occasion to examine the same as the order of NFAC was passed on 31.01.2023. In the best interest of justice these additional evidences are remanded to the file of NFAC and it shall admit the same in terms with Rule 46A (3) of the Income tax Rules 1962. In view thereof, we set aside the order passed by NFAC and remand the matter back to its file for de novo adjudication as per law while complying with the principles of natural justice and at the same time the assessee is directed to comply with all the hearing notices issued by NFAC and represent the matter substantively on merits through written submissions and documentary evidences. ITA No. 59/Ran/20 23 3 5. As per the above terms the grounds of appeal stands allowed for stati stical purposes. 6. In the result the appeal of the assessee is allowed for statistical purposes. Order pronounced in the open court on 11 /09 /2024 . Sd/ - (PRABHASH SHANKAR) Sd/ - (PA RTHA SARATHI CHAUDHURY) लेखा सदèय / ACCOUNTANT MEMBER ÛयाǓयक सदèय / JUDICIAL MEMBER राँची Ranchi; Ǒदनांक Dated 11 /09/2024 s.s , Sr.P.S. (on tour) आदेश कȧ ĤǓतͧलͪप अĒेͪषत/Copy of the Order forwarded to : आदेशान ु सार/ BY ORDER, (Senior Private Secretary) आयकर अपीलȣय अͬधकरण, राँची / ITAT, Ranchi 1. अपीलाथȸ / The Appellant- . Abhishek Kr. Panday, Patna 2. ITO, Ward-1(5), Ranchi 3. आयकर आयुƅ(अपील) / The CIT(A), 4. आयकर आय ु Èत / CIT 5. िवभागीय Ůितिनिध, आयकर अपीलीय अिधकरण, राँची / DR, ITAT, Ranchi 6. गाड[ फाईल / Guard file. स×याͪपत ĤǓत //True Copy//