Loading judgment…
Facts
The assessee filed an appeal against the order of CIT(A) which dismissed the assessee's appeal. The original assessment order was passed ex-parte under Section 147 r.w.s. 144 of the Income Tax Act, determining the total income at Rs. 1,10,00,000/-. The assessee had not filed any return of income.
Held
The Tribunal observed that neither the assessment order nor the impugned order examined the merits of the case. Considering the peculiar facts involving capital gains calculation, the Tribunal set aside the impugned order.
Key Issues
Whether the impugned orders correctly adjudicated the case on merits, especially concerning the calculation of capital gains, and if not, whether the matter should be remanded for fresh consideration.
Sections Cited
253, 250, 147, 144, 246A, 45
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, INDORE BENCH, INDORE
5.1 In the premises we set aside the “impugned order” as and by way of remand back to the file of Ld. A.O on denovo basis to enable him to file a fresh order subject however to assessee cooperating with the department. Assessee is directed not seek
Page 5 of 6 any unnecessary adjournment and to cooperate with revenue.
The assessee is further directed to place all material information to Ld. A.O before completion of assessment. The assessee to note that this opportunity is granted in view of undertaking given by Ld. AR during hearing held on 06.05.2025 in open court.
5.2 Appeal allowed for statistical purpose.
Order pronounced in open court on 08.05.2025.