HOABL IMPACTUM LANDS,MUMBAI vs. MUM-W-(251)(94), MUMBAI

IN THE INCOME TAX APPELLATE TRIBUNAL
“E” BENCH, MUMBAI
BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER&
SMT.RENU JAUHRI, ACCOUNTANT MEMBER
(Physical hearing)

Hoabl Impactum Lands
Lodha Excelus, 7th Floor, Apollo Mills
Compound, N.M. Joshi Marg, Jacob
Circle S O, Mumbai – 400011. [PAN: AAHPL1285H]
Vs
ITO, Ward-34(2)(1), Mumbai
Kautilya Bhavan, BKC,
Mumbai-400051. Appellant / Assessee

Respondent / Revenue
(Physical hearing)

ITO, Ward-34(2)(1), Mumbai
Kautilya Bhavan, BKC,
Mumbai-400051. Vs
Hoabl Impactum Lands
Lodha Excelus, 7th Floor, Apollo Mills
Compound, N.M. Joshi Marg, Jacob
Circle S O, Mumbai – 400011. [PAN: AAHPL1285H]
Appellant / Assessee

Respondent / Revenue

Assessee by Shri Ravikant Pathak, CA
Revenue by Shri Hemanshu Joshi, Sr. DR
Date of Institution
08.07.2025
Date of hearing
04.09.2025
Date of pronouncement
04.09.2025

Order under section 254(1) of Income Tax Act

PER BENCH: 1. These cross-appeals by assessee as well as revenue are directed against the order of ld. CIT(A)/NFAC dated 20.05.2025 for A.Y. 2022-23. 2. Rival submissions of both the parties have been heard and record perused. The learned Authorised Representative (ld. AR) of the assessee submits that assessment was completed under section 144 on 20.03.2024. Against the additions made in the assessment order, the assessee filed appeal

ITA Nos. 4433& 4656/Mum/2025
Hoabl Impactum Lands
2

before ld. CIT(A). Before ld. CIT(A), the assessee filed detailed written submission as well as various evidences. The ld. CIT(A) allowed part relief to the assessee. Though, the substantial relief was allowed to the assessee. However, the ld. CIT(A) before allowing the relief to the assessee has not obtained remand report from assessing officer on various submissions and evidences. The revenue in its cross-appeal has raised specific ground of appeal about valuation of Rule 46A. Therefore, instead of going on merit or demerit of various issues raised by assessee as well as by revenue, the matter may be restored back to the file of assessing officer. The assessee may be allowed liberty to file all evidences in support of various claims. He undertakes on behalf of assessee to be more vigilant on future in making compliance before lower authorities.
3. On the other hand, the learned Senior Departmental Representative (ld. Sr.
DR) for the revenue submits that there is valuation of Rule 46A by ld.
CIT(A), and the revenue has raised a specific ground of appeal hence, matter may be restored to ld. CIT(A) for fresh adjudication.
4. In short rejoinder submission, the ld. AR of the assessee submits that ld.
CIT(A) may require remand report on various submissions and evidences, therefore, to avoid such technical glitches in the faceless appeal manner, it would be appropriate to restore all the issues to the file of juri ictional assessing officer.
5. We have considered the submissions of both the parties and considering the fairness in approach of both the ld. Representatives, we find merit in their submission that assessment was completed under section 144 and ITA Nos. 4433& 4656/Mum/2025
Hoabl Impactum Lands
3

the ld. CIT(A) allowed relief to the assessee in accepting the submission of assessee on various issues without seeking remand report of assessing officer. Therefore, all the grounds of appeal raised in both the appeals are restored back to the file of assessing officer to pass the assessment order afresh. The assessee is directed to be more vigilant in future making timely compliance. Needless to direct that before passing assessment order afresh, the assessing officer shall allow fair and reasonable opportunity to the assessee. In the result, both the ground of appeals of assessee is allowed for statistical purposes.
6. In the result, both the appeals of the assessee as well as Revenue are allowed for statistical purposes.
Order was pronounced in the open Court on 04/09/2025. RENU JAUHRI
ACCOUNTANT MEMBER PAWAN SINGH
JUDICIAL MEMBER

MUMBAI, Dated: 04/09/2025
Biswajit

Copy of the order forwarded to:
(1)
The Assessee;
(2)
The Revenue;
(3)
The PCIT / CIT (Judicial);
(4)
The DR, ITAT, Mumbai; and (5)
Guard file.
By Order