ABHAY GANPAT RAWOOL, MUMBAI V. ASST. CIT 21 (1), MUMBAI

ITA 6541/MUM/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 5235 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 6 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-05-2021
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: A
• Assessment Year: 2015-2016
• Appeal Filed On: 16-10-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Sale consideration of property below Jantri Value; Principle of natural justice

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, MUMBAI , , BEFORE HONBLE SHRI C.N. PRASAD, JM AND HONBLE SHRI MANOJ KUMAR AGGARWAL, AM (HEARING THROUGH VIDEO CONFERENCING MODE) ./ I.T.A. NO.6541/MUM/2019 ( / ASSESSMENT YEAR: 2015-16) ABHAY GANPAT RAWOOL 702, SAMRAT, L.J.ROAD MAHIM, MUMBAI 400016 / VS. A CIT - 21 (1) PIRAMAL CHAMBERS, LALBAUG MUMBAI - 400012 PAN NO. : AA APR - 5815 - N ( /APPELLANT ) : ( ! / RESPONDENT ) ASSESSEE BY : NONE REVENUE BY : SHRI BRAJENDRA KUMAR LD. SR. DR / DATE OF HEARING : 03/05/2021 / DATE OF PRONOUNCEMENT : 03/05/2021 / O R D E R PER C.N.PRASAD (JUDICIAL MEMBER) 1. AT THE TIME OF HEARING OF APPEAL, NONE APPEARED FOR ASSESSEE. THE LD. DR PLEADED FOR DISMISSAL OF APPEAL BY POINTING OUT THAT THE ASSESSEE FAILED TO APPEAR BEFORE FIRST APPELLATE AUTHORITY A LSO. IN THIS APPEAL, THE ASSESSEE IS AGGRIEVED BY CERTAIN ADDITIONS ARISING ON ACCOUNT OF APPLICATION OF SEC.50C. FROM PARA-6 OF THE IMPUGNED ORDER, IT IS EVIDENT THAT DESPITE NOTICES, THE ASSESSEE HAS FAILED TO AT TEND APPELLATE 2 PROCEEDINGS AND CONSEQUENTLY, THE ADDITION OF RS.76 .85 LACS HAS BEEN CONFIRMED WHEREAS ANOTHER ADDITION OF RS.18.47 LACS HAS BEEN DELETED. 2. ALTHOUGH WE CONCUR WITH LD. DRS SUBMISSIONS THA T THE ASSESSEE REMAINED NEGLIGENT, HOWEVER, KEEPING IN VIEW THE PR INCIPLE OF NATURAL JUSTICE, THE BENCH DEEMS IT FIT TO PROVIDE ANOTHER OPPORTUNITY TO THE ASSESSEE TO SUBSTANTIATE ITS CASE BEFORE LEARNED FI RST APPELLATE AUTHORITY QUA ADDITION OF RS.76.85 LACS. THEREFORE, IMPUGNED ORDE R, ON THIS ISSUE, IS SET-ASIDE AND THE SAME IS RESTORED BACK TO THE F ILE OF LD. CIT(A) FOR RE- ADJUDICATION AFTER PROVIDING ANOTHER OPPORTUNITY OF HEARING TO THE ASSESSEE. THE ASSESSEE, IN TURN, IS DIRECTED TO SUB STANTIATE ITS CLAIM FAILING WHICH LD. CIT(A) SHALL BE AT LIBERTY TO PRO CEED WITH ADJUDICATION ON THE BASIS OF MATERIAL ON RECORD. 3. THE APPEAL STAND ALLOWED FOR STATISTICAL PURPOSE . ORDER PRONOUNCED ON 03 RD MAY, 2021. SD/- SD/- (MANOJ KUMAR AGGARWAL) (C.N. PRASA D) / ACCOUNTANT MEMBER / JUDICIAL MEMBER MUMBAI; DATED : 03/05/2021 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.