ELARCI (ESTATES AND CONSTRUCTIONAL) DEVELOPMENT SERVICES PRIVATE LIMITED,MUMBAI vs. INCOME TAX OFFICER-2(1)(3), MUMBAI

The Ld.AR submitted that this is second round of proceeding. In the first round, the Tribunal vide its order dt. 06-08-2018 passed in had restored the matters back to the file of AO. Consequent thereto, the present assessment order dated 20-12-2019 came to be passed by the AO u/s. 143(3) r.w.s 254 of the Income Tax Act, 1961 („the Act‟). In that order, the AO made certain adjustments to the book profits computed u/s.115JB of the Act and the said adjustment was challenged by the assessee before the Ld.Addl./JCIT(A) as Ground No. 4. However, the Ld. Addl./JCIT(A) did not adjudicate the said ground. Accordingly the Ld.AR prayed that this appeal may be restored to the file of the Ld.Addl./JCIT(A) with a direction to adjudicate Ground No. 4 urged before him.

We heard Ld.DR and perused the record. We find merit in the submissions made by the Ld.AR. Accordingly, we restore this appeal to the file of the Ld. Addl./JCIT(A) with a direction to adjudicate Ground No.4 urged before him. The assessee should be given adequate opportunity of being heard.

In the result, the appeal of the assessee is treated as allowed for statistical purposes.