SHRI. KRISHNA SHIVAPRASAD,MANGALORE vs. INCOME-TAX OFFICER, WARD-2(4), MANGALORE

This appeal by assessee is directed against order of NFAC for the assessment year 2017-18 dated 213.2023. The assessee has raised following grounds: 1. The impugned order passed by the Income Tax Officer, Ward 2(4), Mangalore (Learned Officer), as upheld by the Commissioner of Income Tax (Appeal), National Faceless Appeal Centre (NFAC), Delhi (the CIT(A)) to the extent prejudicial to the Appellant, is not justified in law and on facts and circumstances of the case

The Learned Officer has erred in law and on facts in passing the impugned order without jurisdiction;

The Learned Officer has erred in law and on facts in making an addition of Rs. 11,00,000/-as short-term capital gains;

The Learned Officer has erred in law and on facts in denying the benefit of exemption to agricultural income to the extent of Rs. 84,66,000/- by treating the same as income from other sources;

The Learned AO has erred in law and on facts in not appreciating the nature of activities and circumstances under which the Assessee has undertaken his activities;

The Learned AO has erred in law and on facts in imposing conditions that are not prevalent under the statute.

The ld. D.R. relied on the order of NFAC.

We have heard the rival submissions and perused the materials available on record. In this case, various notices were issued by the NFAC which were not complied by the assessee. It was explained by the ld. A.R. that it is due to their poor knowledge about ITBA portal. In our opinion, it is appropriate vacate the order of NFAC and remit the issue to the file of NFAC for fresh consideration after giving an opportunity of being heard to the assessee. Since we have already remitted the issue to the file of NFAC, we refrain from commenting anything on the merit of the issues raised before us.

In the result, the appeal of the assessee is partly allowed for statistical purposes. Order pronounced in the open court on 4th July, 2023