SYDNEY GOMES,MUMBAI vs. COMMISSIONER OF INCOME TAX (APPEALS), DELHI
| आयकर अपीलीय अिधकरण ायपीठ, मुंबई |
IN THE INCOME TAX APPELLATE TRIBUNAL
“G” BENCH, MUMBAI
BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER
&
SHRI ANIKESH BANERJEE, HON’BLE JUDICIAL MEMBER
I.T.A. No. 3334/Mum/2024
Assessment Year: 2013-14
Sydney Gomes, Mumbai
House No. 360, Bamanwada
M. C. Chhagala Road
Vile Parle East
Maharashtra - 400099
[PAN: BLNPG9307D]
Vs
Commissioner of Income Tax
(Appeals), Delhi
अपीलाथ/ (Appellant)
यथ/ (Respondent)
Assessee by :
None
Revenue by :
Shri Bhangepatil Pushkaraj Ramesh, Sr. A/R
सुनवाई की तारीख/Date of Hearing : 01/04/2025
घोषणा की तारीख /Date of Pronouncement: 01/04/2025
आदेश/O R D E R
PER NARENDRA KUMAR BILLAIYA, AM:
This appeal by the assessee is preferred against the order dt.
06/06/2024 of the NFAC, Delhi [hereinafter ‘the CIT(A)’]
pertaining to AY 2013-14. 2. The solitary grievance of the assessee reads as under:-
“1. On the facts and circumstances of the case and in law, the learned ITO erred in computing Long Term Capital Gain of Rs 2,31,67,200 without considering the cost the said Property as per section 48 of the Act. In doing so, the learned ITO failed to appreciate the fact that though the said Property was acquired before 1981, market value of the said Property as on 1.4.1981 shall be considered as cost as per provision of section 48 of the Act Thus, the learned ITO failed to comply with the provision of section 48 of the Act. In doing so, the learned ITO failed to grant the benefit of indexation of cost as per the provisions of section 48 of the Act. In view of the above, the learned ITO has erred in computing Long Term Capital Gain as per the provisions of Section 50C of the Act in the Appellants case.”
None appeared on behalf of the assessee in spite of notice. We decide to proceed ex-parte.
I.T.A. No. 3334/Mum/2024
2
We have carefully perused the order of the authorities below. We find that the assessment order is framed ex-parte u/s 144 of the Act and even before the ld. CIT(A), none appeared and even the ld. CIT(A) was forced to pass an ex-parte order. 5. We have carefully considered the grievance of the assessee. We find that the AO has added the entire sale consideration as long-term capital gains without giving any deduction to the cost of acquisition. 6. We are of the considered view that the assessee should get one more opportunity to furnish the necessary details/documents relating to the cost of acquisition. Therefore, in the interest of justice, we restore the issues to the file of the AO. The assessee is directed to avail this second opportunity and furnish all the details relating to the claim of cost of acquisition and the AO is directed to decide the issue afresh as per the provisions of law after affording reasonable and adequate opportunity of being heard to the assessee. 7. In the result, appeal of the assessee is allowed for statistical purposes.
Order pronounced in the Court on 1st April, 2025 at Mumbai. (ANIKESH BANERJEE)
ACCOUNTANT MEMBER
Mumbai, Dated 01/04/2025
*SC SrPs
*SC SrPs
*SC SrPs
*SC SrPs
I.T.A. No. 3334/Mum/2024
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आदेश की ितिलिप अेिषत /Copy of the Order forwarded to :
अपीलाथ / The Appellant 2. थ / The Respondent 3. संबंिधतआयकरआयु! / Concerned Pr. CIT 4. आयकरआयु! ) अपील ( / The CIT(A)- 5. िवभागीय ितिनिध ,आयकर अपीलीय अिधकरण, मुंबई /DR,ITAT, Mumbai, 6. गाड% फाई/ Guard file.
आदेशानुसार/ BY ORDER