(LATE) SHEIK AHMED BASHEER REP BY LEGAL HEIR S.B.FAZULUR RAHMAN,CHENNAI vs. ITO NON CORPORATE WARD 11(5), CHENNAI

This is an appeal filed by the assessee against the impugned order of the Commissioner of Income-tax (Appeals)- 13,Chennai in dated 18.05.2018 for the assessment year 2014-15 on the grounds stated in the grounds of appeal broadly upholding a sum of `.13,05,990/- as income from other sources u/s.56(2)(vii) of the Income Tax Act, 1961 without appreciating the value of the property, purchased by the assessee, was only `.2,40,00,000/-.

We have considered the rival submissions and perused the material available on record. The face in brief are that the assessee declared income of `.2,16,250/- in his return filed on 31.03.2016,. The ld.A.O had reasoned to believe that the assessee purchased the property along with others on 12.09.2013 for a consideration of `.2.40 crores. As per the Revenue, the guideline value of the property was reported at 4.29 crores, therefore, he observed that Sec.56(2)(vii) clause (b) (ii) is applicable. The ld.A.O added `.13,05,990/- as income from other sources u/s.57 (2)(vii) of the Act. Without going into much deliberation /merits of the appeal, as claimed by the ld. Counsel for the assessee, all the legal heir are expected to be brought on record and then the appeal of the assessee has to be adjudicated on merits. Thus, we deem it appropriate to remand this appeal to the file of the ld.First Appellate Authroity to bring all the legal heir on record and then, decide in accordance with law. All the legal heir be heard and proper opportunity of hearing be provided to them. Thus, the appeal of the assessee is allowed for statistical purposes only.