ANAND BHUVAN CO-OP HSG SOCIETY LTD,MUMBAI vs. THE INCOME TAX OFFICER, WARD 22(1)(1), MUMBAI, MUMBAI

Thus, in order to examine the aforesaid transaction, the Assessing Officer issued various statutory notices to the Assessee, including through affixture at the last known address of the Assessee by the Ward Inspector on 18.05.2023, whereby the date of hearing was fixed on 22.05.2023. However, the Assessee did not and 6865/M/2025 3 ANAND BHUVAN CO-OP HSG SOCIETY LIMITED file any reply/details till the passing of the Assessment Order dated 25.05.2023 u/s. 147 read with section 144 of the Act, thus, Assessing Officer, was constrained to make the addition of Rs.5,93,50,999/- u/s 50C of the Act, being short-term capital gain.

The Assessee being aggrieved, challenged the aforesaid addition and the Assessment Order before the Ld. Commissioner and claimed that the Assessee was not registered on E-filing portal and on receipt of notice for recovery of demand dated 09.01.2025, the Assessee came to know about the Assessment Order and outstanding demand.

The Ld. Commissioner, by considering the peculiar facts and circumstances of the case and the powers granted with effect from 01.10.2024 for setting aside an Assessment Order by statute, set- aside the Assessment Order to the file of the Assessing Officer for making fresh Assessment, within the time limit provided in section 153(3) of the Act.

As the Ld. Commissioner has set-aside the Assessment Order in toto with the direction to make a fresh Assessment Order, by the Assessing Officer, thus he has not gone into the merits of the case/each ground taken by the Assessee. The Assessee, still being dissatisfied with the impugned order, has preferred instant appeal raising various issues, including legal in nature.

We have given thoughtful consideration to the peculiar facts and circumstances of the case. As the Ld. Commissioner has already set-aside the Assessment Order and therefore, as on today, there is no Assessment Order in existence, which requires to be quashed. and 6865/M/2025 4 ANAND BHUVAN CO-OP HSG SOCIETY LIMITED

On being asked, the Ld. Counsel for the Assessee alternatively submitted that the Assessing Officer will not adjudicate the legal grounds raised by the Assessee and within the time framework and therefore appropriate direction may be issued. The Ld. DR did not refute the said claim of the Assessee.

Considering the request of Assessee, we deem it appropriate to direct the Assessing Officer to adjudicate the legal grounds as raised before us, which the Assessee intends to raise before the Assessing Officer, as well in due course of time. Further, the Assessing Officer shall adhere to the time limit as prescribed in the provisions of Section 153(3) of the Act, for passing the fresh Assessment Order, in the remand case, as directed by the learned Commissioner.

Thus, in effect, the Assessing Officer is directed to adjudicate the legal issues to be raised by the Assessee and also pass the assessment order afresh within the time limit, as provided in section 153(3) of the Act, as also directed by the Ld. Commissioner in impugned order. pertains to the penalty levied u/s. 270A of the Act. As the Ld. Commissioner has already set-aside the quantum appeal/case to the file of the Assessing Officer for passing the Assessment Order afresh. Thus, in view of above, this case is also set-aside to the file of the Assessing Officer for decision afresh, on arising the necessity for levying the penalty. and 6865/M/2025 5 ANAND BHUVAN CO-OP HSG SOCIETY LIMITED

In the result, both the Appeals under consideration are partly allowed, on the above terms/directions.