RAJIV OHRI,GURGAON, HARYANA V. .A.C.I.T., CIRCLE - 62, KOLKATA, KOLKATA

ITA 1924/KOL/2024

AI Insights

This case involves an appeal by Rajiv Ohri against the order of the National Faceless Appeal Centre, Delhi, concerning the Assessment Year 2014-15. The primary legal contention was the ex-parte order passed by the CIT (A) without a reasonable opportunity of hearing. On merits, the issues included the computation of business income and the addition concerning the sale of property under section 69A of the Income Tax Act. The assessee submitted additional evidences under Rule 46A, which were deemed crucial for a correct assessment. The Tribunal decided to admit these evidences and remand the case back to the CIT (A) for a fresh decision.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 474013 (ITAT-KOLKATA)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-12-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2014-2015
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUBHENDU DATTA
• Assessee Lawyers: SIDDARTH AGARWAL
• Keywords: Business income; Opportunity of being heard; Additional evidence
• Section: 69A

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, KOLKATA BEFORE SHRI RAJESH KUMAR, AM AND SHRI PRADIP KUMAR CHOUBEY, JM ITA No.1924/KOL/2024 (Assessment Year:2014-15) Rajiv Ohri 1508 A, The Magnolias, DLF golf Links, DLF Phase V, Golf Course Road, Galleria DLF-IV, Gurgaon, Haryana-122009 Vs. ACIT, Circle-62, Kolkata Bamboo Villa, 169, A.J.C. Bose Road, Kolkata, West Bengal, Kolkata-700017 (Appellant) (Respondent) PAN No. AAFP07001A Assessee by : Shri Siddarth Agarwal, AR Revenue by : Shri Subhendu Datta, DR Date of hearing: 03.12.2024 Date of pronouncement : 16.12.2024 O R D E R Per Rajesh Kumar, AM: This is an appeal preferred by the assessee against the order of the National Faceless Appeal Centre, Delhi (hereinafter referred to as the “Ld. CIT(A)”] dated 16.07.2024 for the AY 2014-15. 02. The assessee has challenged the order of ld. CIT (A) on legal issue as well as in merit. 03. The legal issue raised by the assessee is against the ex-parte order passed by the ld. CIT (A) without affording reasonable opportunity of hearing, whereas the issue on merit are against the confirmation of Page | 2 ITA No.1924/KOL/2024 Rajiv Ohri; A.Y. 2014-15 addition made in respect of computation of business income of ₹4,51,78,570/-, against the business loss of ₹48,39,233/- and confirmation of addition of ₹3,48,50,000/- u/s 69A of the Act as made by the ld. AO in respect of sale of property. The assessee has filed the application under Rule 46A of the Act for admission of additional evidences which are in the form of purchase deed, bank statements, breakup of purchase and sale transactions, statement of reflecting share transactions of MSE, Future & Options Transactions of Aditya Birla Money Ltd., Future & Options Transactions of India Bulls Securities Ltd. and various other documents, which are contained in paper book from page nos.68 to 155. The ld. Counsel for the assessee submitted that the examination and consideration of these documents are of paramount importance for fair and correct appreciation and adjudication of the issue. The ld. AR therefore, prayed that these additional evidences may be admitted and restored to the file of the ld. AO with a direction to decide it afresh after taking into account all these evidences. 04. The ld. DR on the other hand relied on the orders of the lower authorities. 05. After hearing the rival contentions and perusing the materials available on record including the evidences filed before us as additional evidence under Rule 46A of the Income Tax Rules, 1963 (the Rules), we are of the view that these evidences are very important for the correct assessment of income of the assessee. Accordingly, we admit these evidences and restore the appeal to the file of the ld. CIT (A) with a direction to decide the issue denovo after taking into account all the necessary documents/ evidences, and after Page | 3 ITA No.1924/KOL/2024 Rajiv Ohri; A.Y. 2014-15 allowing a reasonable opportunity of being heard to the assessee. The appeal of the assessee is allowed for statistical purposes. 06. In the result, the appeal of the assessee is allowed for statistical purposes. Order pronounced in the open court on 16.12.2024. Sd/- Sd/- (PRADIP KUMAR CHOUBEY) (RAJESH KUMAR) (JUDICIAL MEMBER) (ACCOUNTANT MEMBER) Kolkata, Dated: 16.12.2024 Sudip Sarkar, Sr.PS Copy of the Order forwarded to : 1. The Appellant 2. The Respondent 3. CIT 4. DR, ITAT, 5. Guard file. BY ORDER, True Copy// Sr. Private Secretary/ Asst. Registrar Income Tax Appellate Tribunal, Kolkata "