SUNDER VISHAN LAKHANI, MUMBAI V. ASST CIT 15(2)(1), MUMBAI

ITA 646/MUM/2020

• Counselvise Citation: [2020] 108 COUNSELVISE.COM (IT) 5603 (ITAT-MUMBAI)
• Duration Of Justice: 11 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-12-2020
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: G
• Assessment Year: 2015-2016
• Appeal Filed On: 28-01-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 68

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH G, MUMBAI BEFORE SHRI RAJESH KUMAR, ACCOUNTANT MEMBER AND SHRI AMARJIT SINGH, JUDICIAL MEMBER ITA NO.646/M/2020 ASSESSMENT YEAR: 2015-16 SHRI SUNDER VISHAN LAKHANI GOKUL, PLOT NO.117, LANE A, NEAR SAGAR VIHAR, SECTION 8, VASHI, NAVI MUMBAI - 400703 PAN: ACZPL 8934B VS. ASSTT. COMMISSIONER OF INCOME TAX-15(2)(1), ROOM NO.357, 4 TH FLOOR, AAYAKAR BHAVAN, M.K. ROAD, MUMBAI - 400020 (APPELLANT) (RESPONDENT) PRESENT FOR: ASSESSEE BY : MS. RITIKA AGARWAL, A.R. SHRI SALMAN BALBALE, A.R. REVENUE BY : SHRI T.S. KHALSA, D.R. DATE OF HEARING : 17.12.2020 DATE OF PRONOUNCEMENT : 31.12.2020 O R D E R PER RAJESH KUMAR, ACCOUNTANT MEMBER: THE PRESENT APPEAL HAS BEEN PREFERRED BY THE ASSESSEE AGAINST THE ORDER DATED 02.12.2019 OF THE COMMISSIONER OF INCOME TAX (APPEALS) [HEREINAFTER REFERRED TO AS THE CIT(A)] RELEVANT TO ASSESSMENT YEAR 2015-16. 2. THE ONLY ISSUE RAISED BY THE ASSESSEE IN THE VARIOUS GROUNDS OF APPEAL IS AGAINST THE CONFIRMATION OF ADDITION BY LD. CIT(A) AS MADE BY THE AO UNDER SECTION 68 IN RESPECT OF LONG TERM CAPITAL GAIN OF RS.42,33,893/- WHICH WAS CLAIMED BY THE ASSESSEE AS EXEMPT UNDER SECTION 10(38) OF THE ACT. ITA NO.646/M/2020 SHRI SUNDER VISHAN LAKHANI GOKUL 2 3. AT THE OUTSET, THE LD. COUNSEL OF THE ASSESSEE HAS POINTED OUT THAT THE APPEAL OF THE ASSESSEE HAS BEEN DISMISSED BY THE LD. CIT(A) WITHOUT CONSIDERING THE MERIT OF THE CASE DESPITE THE ASSESSEE HAVING FILED WRITTEN SUBMISSIONS BEFORE THE LD. CIT(A) ALONG WITH THE NECESSARY EVIDENCES. THE LD. A.R. THEREFORE PRAYED THAT THE MATTER MAY KINDLY BE RESTORED TO THE FILE OF THE LD. CIT(A) TO DECIDE THE SAME ON MERIT TO WHICH THE LD. D.R. FAIRLY AGREED. 4. AFTER HEARING BOTH THE PARTIES AND PERUSING THE MATERIAL ON RECORD, WE OBSERVE THAT THE LD. CIT(A) HAS DISMISSED THE APPEAL OF THE ASSESSEE WITHOUT CONSIDERING THE MERIT OF THE ASSESSEE BY MENTIONING THAT ASSESSEE HAS NOT ATTENDED THE PROCEEDINGS ON THE DATE GIVEN. IN OUR VIEW, IT WOULD MEET THE ENDS OF THE JUSTICE IF THE ASSESSEE IS GRANTED ONE MORE OPPORTUNITY OF HEARING BEFORE THE LD. CIT(A) TO PRESENT HIS CASE ON MERIT. ACCORDINGLY, WE ARE SETTING ASIDE THE ISSUE TO THE FILE OF THE LD. CIT(A) WITH THE DIRECTION TO DECIDE THE SAME ON MERIT AFTER AFFORDING A REASONABLE OPPORTUNITY TO THE ASSESSEE AND ASSESSEE IS ALSO DIRECTED TO COOPERATE IN THE PROCEEDINGS BEFORE THE LD. CIT(A). 5. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON 31.12.2020. SD/- SD/- ( AMARJIT SINGH) (RAJESH KUMAR) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI, DATED: 31.12.2020. * KISHORE, SR. P.S. ITA NO.646/M/2020 SHRI SUNDER VISHAN LAKHANI GOKUL 3 COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT (A) CONCERNED, MUMBAI THE DR CONCERNED BENCH //TRUE COPY// [ BY ORDER DY/ASSTT. REGISTRAR, ITAT, MUMBAI.