RAMESH RAJMAL KHATOD,NASHIK vs. INCOME-TAX OFFICER, NASHIK

Heard both parties and perused the materials available on record. The facts of the case as emanating from the records are that the assessee is an individual and derives professional income, income from capital gains and from other sources. The assessee filed return of income declaring total income of Rs.19,40,733/-. The Assessing Officer determined the income of assessee at Rs.65,90,920/- vide its order dated 09-012-2015 passed u/s. 143(3) of the Act wherein he denied exemption u/s. 54F of the Act to an extent of Rs.46,50,186/-.

The assessee challenged the order of Assessing Officer before the CIT(A) in First Appellate proceedings. It is observed from the impugned order that the CIT(A) issued notices to the assessee but however no compliances were made by the assessee. For non-compliance, the CIT(A) dismissed the grounds of appeal ex-parte of assessee.

The ld. AR, Shri Sanket Joshi undertakes that the assessee ready to prosecute its grounds before the CIT(A) if the Hon‟ble Tribunal remand the matter to the file of CIT(A). The ld. DR, Ms. Brindha reported no objection. Having considering the facts and circumstances of the case in the ends of justice taking into consideration the submissions of ld. AR and ld. DR, we deem it proper to remand the mater back to the file of CIT(A) for fresh consideration. It is needless to mention that the assessee shall co-operate for speedy disposal of its appeal before the CIT(A) and liberty to file evidences if any in support of his claim. Thus, the grounds raised by the assessee are allowed for statistical purpose.

In the result, the appeal of assessee is allowed for statistical purpose.