)RAJYAVARDHAN SINGH,INDORE vs. ACIT,CIRCLE 5(1), INDORE

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ITA 294/IND/2018Status: DisposedITAT Indore15 May 2019AY 2012-132 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal set aside the order of the CIT(A) and remanded the matter back to the CIT(A) for a fresh decision. This was to be done in light of the earlier ITAT order on identical issues and after affording the assessee an opportunity of being heard.

What were the facts?

The assessee appealed against the CIT(A)'s order concerning exemption under Section 54F and computation of capital gains. The assessee pointed out that identical issues for a prior assessment year were set aside by the ITAT and restored to the CIT(A) for fresh decision.

What were the issues?

Whether the assessee is eligible for exemption under Section 54F on long-term capital gains and the correct computation of capital gains.

Which sections of the Income-tax Act were involved?

Section 54F

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, INDORE BENCH, INDORE

Before: SHRI KUL BHARAT & SHRI MANISH BORAD

For Appellant: Shri T.N. Unni &
For Respondent: Smt. Ashima Gupta, CIT
Hearing: 14.5.2019Pronounced: 15.5.2019

O R D E R

PER SHRI KUL BHARAT, JM

1.

This appeal is filed by the assessee against the order of ld. CIT(A)-II, Indore dated 27.12.2017. Grounds of appeal relate to the issues of exemption u/s 54F of long term capital gain on sale of residential property and computation of capital gain.

2. At the outset of the hearing, ld. counsel for the assessee contended that for the assessment year 2009-10 in the assessee’s own appeal bearing the identical issues involved in the present appeal too, had been dealt with by the ITAT, Indore and the Indore Bench had, vide order dated 23.3.2018, set aside the order of the ld. CIT(A) and restored back to the file of the ld. CIT(A) for decision afresh. On the other hand, the ld. CIT/DR relied on the orders of the Revenue Authorities. However, she did not object if the matter is reconsidered by the ld. CIT(A).

3. Considering the rival submissions and in the interest of justice, we deem it appropriate to set aside the order of the ld. CIT(A). The issues raised in the present appeal are remanded back to the file of the ld. CIT(A) with direction to decide the matter afresh in the light of the earlier order of the Tribunal (supra). The ld. CIT(A) would decide the appeal afresh in terms as indicated hereinabove after affording due opportunity of being heard to the assessee as per law and the assessee is also directed to suo motu take this order and appear before the ld. CIT(A) in this regard.

4.

In result, appeal filed by the assessee is allowed for statistical purposes only.

Order was pronounced in the open court on 15.5.2019.

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