DEVENDRA S. SHAH,DOMBIVALI vs. ACIT CIR 3, KALYAN

8 Devendra S. Shah

AO, we are remitting the issue back to the file of the AO to redo the assessment de novo, we are remitting both the assessment year under consideration to the file of assessing officer to redo the assessment de novo after giving proper opportunity of being heard to the assessee. This is based on the principal that actual income alone can be taxed and not on the notional income or based on perceived income. At the same time, we advise the assessee also to cooperate with the tax authorities to complete the assessment in due course.

MUMBAI, DATED: 13.05.2021 Copy of the order forwarded to: (1) The Assessee; (2) The Revenue; (3) The CIT(A); (4) The CIT, Mumbai City concerned; (5) The DR, ITAT, Mumbai; (6) Guard file.By Order Pradeep J. Chowdhury Sr. Private Secretary