SURESH DURGAPRASAD AGRAWAL,JALNA vs. INCOME -TAX OFFICER, JALNA

This appeal is time barred by 450 days. The assessee has filed a condonation application with affidavit giving the reasons for the delay. I am satisfied with the same. The delay is condoned and the appeal is admitted for disposal on merits.

The only issue raised in this appeal is against the confirmation of addition of Rs.20,05,360/- made by the Assessing Officer on account of long term capital gain.

I have heard both the sides and gone through the relevant material on record. It is seen that the assessment order was passed u/s.144 r.w.s.147 of the Act. The ld. CIT(A) partly allowed the appeal of the assessee. The ld. AR contended that the assessee was not given proper opportunity of presenting his case before the AO. It was, therefore, prayed that one more opportunity be accorded to the assessee to represent his case. In view of the above factual background of the extant case, I am of the opinion that it would be just and fair if the impugned order is set-aside and the matter is remitted to the file of the AO with a direction to dispose of the issue afresh on merits as per law after allowing a reasonable opportunity of hearing to the assessee.

Needless to say, the assessee will be at liberty to lead any fresh evidence to support his point of view in the fresh assessment. I order accordingly.

In the result, the appeal is allowed for statistical purposes. Order pronounced in the Open Court on 21st March, 2022.