DEVVRAT MOONDHRA,MUMBAI vs. JOINT COMMISSIONER OF INCOME TAX RANGE-17(1), MUMBAI

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ITA 5496/MUM/2017Status: DisposedITAT Mumbai08 November 2017AY 2012-134 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the issue needed to be decided on merits after hearing the assessee. The CIT(A) had not passed a speaking order, necessitating a fresh examination.

What were the facts?

The assessee challenged an ex-parte order passed by the CIT(A) without granting a proper opportunity of hearing. The assessee argued that the CIT(A) erred in applying Rule 11UA and Section 56 to the sale of shares.

What were the issues?

Whether the CIT(A) passed an ex-parte order in violation of natural justice and if Section 56 and Rule 11UA were correctly applied to the sale of shares.

Which sections of the Income-tax Act were involved?

Section 56

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH, MUMBAI

For Appellant: Shri S C Tiwari
Hearing: 8.11.2017Pronounced: 8.11.2017

O R D E R PER RAJESH KUMAR, A. M: This is an appeal filed by the assessee challenging the order dated 3.4.2017 of ld.CIT(A)-28, Mumbai for the assessment year 2012-13, whereby the assessee has interalia challenged the ex-parte order in violation of principle of natural justice.

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