BINOY RAJEN SHAH,MUMBAI vs. CIRCLE 19(1), MUMBAI, MUMBAI
Before: SHRI NARENDER KUMAR CHOUDHRY & SHRI PRABHASH SHANKARAssessment Year: 2016-17
Per : Narender Kumar Choudhry, Judicial Member:
This appeal has been preferred by the Assessee against the order dated 12.06.2025, impugned herein, passed by the National
Faceless Appeal Centre (NFAC), Ld. Commissioner of Income Tax
(Appeals) (in short Ld. Commissioner) u/s 250 of the Income Tax
Act, 1961 (in short ‘the Act’) for the A.Y. 2016-17. Shri Binoy Rajen Shah
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2. In the instant case, the Ld. Commissioner by way of impugned order dismissed the appeal of the Assessee in limine for want of limitation by not condoning the delay of 222 days, filed against the assessment order dated 30.05.2023 u/s 147 r.w.s. 144
r.w.s. 144B of the Act making the addition of Rs.48,75,750/- on account of variation qua claim of bogus long term capital gain as exempt income u/s 10(38) of the Act on sale of equity shares of M/s. Toyam Industries Ltd. and added the same in the income of the Assessee u/s 68 of the Act, mainly on the reason that the Assessee neither given any documentary evidence in support of the reason for condonation of delay nor filed an affidavit from the chartered accountant to substantiate the reason given.
We have given thoughtful considerations to the peculiar facts and circumstances. We observe from form No.35 that the Assessee in form No.35, column No.15, though has mentioned the reason for delay “there was a delay in filing appeal due to unexpected illness of family members of our chartered accountant”, however, neither filed any particular application nor medical document and/or affidavit of the Ld. CA. Thus, for just and proper decision of the case and substantial justice, this Court is inclined to offer one more opportunity to the Assessee to substantiate his claim before the Ld. Commissioner by filing appropriate application along with duly sworn affidavit and relevant medical documents. Thus, the case is remanded to the file of the Ld. Commissioner for decision afresh, suffice to say by affording reasonable opportunity of being heard to the Assessee. The Assessee is also directed to file appropriate application along with duly sworn affidavit and relevant medical documents in order to substantiate his claim. We also clarify that in case of subsequent default, the Assessee shall not be entitled for any leniency. Shri Binoy Rajen Shah
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4. In the result, the Assessee's appeal is allowed for statistical purposes.
Order pronounced in the open court on 30.09.2025. (PRABHASH SHANKAR)
JUDICIAL MEMBER
* Kishore, Sr. PS
Copy to: The Appellant
The Respondent
The CIT, Concerned, Mumbai
The DR Concerned Bench
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By Order
Dy/Asstt.