T.Mallikarjuna Reddy , Hyderabad V. Income Tax Officer, Ward-13(4), Hyderabad

ITA 912/Hyd/2019

• Counselvise Citation: [2019] 112 COUNSELVISE.COM (IT) 1708 (ITAT-HYDERABAD)
• Duration Of Justice: 6 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-12-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: DB-A
• Next Hearing Date: 20-11-2019
• Assessment Year: 2015-2016
• Appeal Filed On: 29-05-2019
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Keywords: Capital Gains
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH A - SMC, HYDERABAD BEFORE SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ITA NO.912/HYD/2019 ASSESSMENT YEAR: 2015 - 16 SHRI T. MALLIKARJUNA REDDY, VILLA NO. 14, MAPLE TOWN, SUN CITY, NEAR GLENDALE SCHOOL, HYDERGUDA, RAJENDRA NAGAR MANDAL, HYDERABAD. PAN: ABIPT 6849 F VS. INCOME TAX OFFICER, WARD - 13(4), HYDERABAD. (APPELLANT) (RESPONDENT) ASSESSEE BY: SRI A. SRINIVAS REVENUE BY: SRI K. RAVI KIRAN - DR DATE OF HEARING: 20/11/2019 DATE OF PRONOUNCEMENT: 05 /1 2 /2019 ORDER 1. THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE ORDER OF THE LD. CIT(A) - 4, HYDERABAD IN APPEAL NO. 4/10258/17 - 18/W - 13(4),HYD/CIT(A) - 4/HYD/18 - 19, DATED 14/03/2019 PASSED U/S. 143(3) R.W.S 250(6) OF THE ACT FOR THE A.Y. 2015 - 16. 2. THE ASSESSEE HAS RAISED THE FOLLOWING GROUNDS IN HIS APPEAL: - 1. THE ORDER OF THE APPELLATE COMMISSIONER IS CONTRARY TO LAW, FACTS AND CIRCUMSTANCES OF THE CASE. 2. THE APPELLATE COMMISSIONER ERRED IN CONFIRMING THE WITHDRAWAL OF LONG TERM CAPITAL GAINS AMOUNTING TO RS. 22,13,589/ - . 2 3. THE APPELLATE COMMISSIONER ERRED IN CONFIRMING THE CONVERSION OF LONG TERM CAPITAL GAINS OFFE RED INTO SHORT TERM CAPITAL GAIN AMOUNTING TO RS. 22,20,160/ - . 4. ANY OTHER GROUNDS WHICH THE APPELLANT MAY URGE EITHER AT OR BEFORE THE DATE OF HEARING. 3. AT THE OUTSET, THE LD. AR SUBMITTED BEFORE US THAT THE LD. CIT (A) HAS PASSED EX - PARTE ORDER WITHOUT PROVIDING AN OPPORTUNITY TO THE ASSESSEE OF BEING HEARD. IT WAS THEREFORE PLEADED THAT THE MATTER MAY BE REMITTED BACK TO THE FILE OF THE LD CIT (A) IN ORDER TO PROVIDE ONE MORE OPPORTUNITY TO THE AS SESSEE TO PURSUE THE APPEAL . LD. DR, ON THE OTHER HAND, VEHEMENTLY OPPOSED TO THE SUBMISSIONS OF THE LD. AR AND ARGUED THAT SUFFICIENT OPPORTUNITIES HAD BEEN PROVIDED TO THE ASSESSEE HOWEVER, ON THE GIVEN DATES OF HEARING, NEITHER THE ASSESSEE NOR HIS REPR ESENTATIVE APPEARED BEFORE THE LD. CIT (A). IT WAS FURTHER SUBMITTED THAT THE LD. CIT (A) HAD NO OTHER OPTION BUT TO PASS EX - PARTE ORDER ON MERITS BASED ON THE MATERIALS AVAILABLE ON RECORD. HENCE, IT WAS PLEADED THAT THE ORDER PASSED BY THE LD. CIT(A) D OES NOT CALL FOR ANY INTERFERENCE AND APPEAL OF THE ASSESSEE MAY BE DISMISSED. 4. I HAVE HEARD THE RIVAL SUBMISSIONS AND CAREFULLY PERUSED THE MATERIALS ON RECORD. ON EXAMINING THE FACTS OF THE CASE, I FIND MERIT IN THE SUBMISSIONS OF THE LD. DR. THE LD. CIT (A) HAD POSTED THE CASE ON TWO OCCASIONS I.E., 11/02/2019 AND 06/03/2019. HOWEVER, NONE APPEARED ON BEHALF OF THE ASSESSEE BEFORE THE CIT(A) ON THE ABOVEMENTIONED DATES OF HEARING. THEREFORE, THE LD. CIT (A) WAS LEFT 3 WITH NO OTHER OPTION EXCEPT TO A DJUDICATE THE APPEAL EX - PARTE. IN THIS SITUATION, I DO NOT FIND MUCH STRENGTH IN THE ARGUMENTS ADVANCED BY THE LD. AR. HOWEVER, CONSIDERING THE PRAYER OF THE LD. AR, AND IN THE INTEREST OF JUSTICE, I HEREBY REMIT THE MATTER BACK TO THE FILE OF LD. CIT (A) IN ORDER TO CONSIDER THE APPEAL AFRESH BY PROVIDING ONE MORE OPPORTUNITY TO THE ASSESSEE OF BEING HEARD. AT THE SAME BREATH, I ALSO HEREBY CAUTION THE ASSESSEE TO PROMPTLY CO - OPERATE BEFORE THE LD. CIT (A) IN THE PROCEEDINGS FAILING WHICH THE LD. CIT (A) SHALL BE AT LIBERTY TO PASS APPROPRIATE ORDER IN ACCORDANCE WITH LAW AND MERITS BASED ON THE MATERIALS ON THE RECORD. IT IS ORDERED ACCORDINGLY. 5. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES AS INDICATED HEREINABOVE . P RONOUNCED IN THE OPEN COURT ON 05 TH DECEMBER , 2019. SD/ - ( A. MOHAN ALANKAMONY ) ACCOUNTANT MEMBER HYDERABAD, DATED: 05 TH DECEMBER , 2019 OKK COPY TO: - 1) SHRI T. MALLIKARJUNA REDDY, VILLA NO. 14, MAPLE TOWN, SUN CITY, NEAR GLENDALE SCHOOL, HYDERGUDA, RAJENDRA NAGAR MANDAL, HYDERABAD. 2) INCOME TAX OFFICER,WARD - 13(4), 4 TH FLOOR, AAYAKAR BHAVAN, HYDERABAD. 3) THE CIT(A) - 4 , HYDERABAD 4) THE PR. CIT - 4 , HYDERABAD 5) THE DR, ITAT, HYDERABAD 6) GUARD FILE