THE WESTERN INDIA GENUINE GHEE COMPANY PRIVATE LIMITED,T J ROAD SEWREE, MUMBAI vs. INCOME TAX OFFICE CIRCLE 8(3)(1), MUMBAI, AAYAKAR BHAWAN,MUMBAI

Heard the parties and perused the material available on record. It appears from the impugned order that the Assessee has challenged the order dated 24.03.2022 u/s 154 of the Act passed by the ITO Ward- 8(3)(2), Mumbai. Notice for the appellate proceedings was issued to the Assessee on 17.09.2024, on which date as per Ld. AR, the Assessee had sought for adjournment but somehow the Ld. Commissioner without adjourning the case further, passed the impugned order on 25.10.2024 whereby affirmed the action of the Assessing Officer (AO) in disallowing the amount of Rs.9,99,224/- u/s 37(1) of the Act on account of alleged interest paid on loan taken for purchase of land, by dismissing the appeal of the Assessee. Admittedly, in the absence of relevant documents/reply/ submission which the Assessee has failed to file due to non-providing the proper opportunity by the Ld. Commissioner, the issue involved in this case remained to be adjudicated in its right perspective and proper manner and therefore for the just and proper decision of the case and in the interest of substantial justice, this Court deem it appropriate to remand the instant case to the file of the Ld. Commissioner for decision afresh, suffice to say by affording reasonable opportunity of being heard to the Assessee. Thus, the case is accordingly remanded to the file of the Ld. Commissioner.

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